CrowdStrike (NASDAQ:CRWD) Trading Up 2% – Here’s What Happened

Shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) shot up 2% on Wednesday . The company traded as high as $370.33 and last traded at $369.64. 618,570 shares traded hands during trading, a decline of 87% from the average session volume of 4,881,380 shares. The stock had previously closed at $362.38.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CRWD. Bank of America increased their target price on CrowdStrike from $400.00 to $420.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. DA Davidson upped their target price on shares of CrowdStrike from $395.00 to $415.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Robert W. Baird decreased their price objective on shares of CrowdStrike from $440.00 to $405.00 and set a “neutral” rating for the company in a report on Wednesday, March 5th. Stephens initiated coverage on CrowdStrike in a research note on Tuesday. They set an “overweight” rating and a $450.00 target price on the stock. Finally, Canaccord Genuity Group lifted their target price on CrowdStrike from $370.00 to $420.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $400.88.

CrowdStrike Price Performance

The company has a market cap of $92.73 billion, a P/E ratio of 733.54, a PEG ratio of 17.86 and a beta of 1.19. The firm’s 50-day moving average is $387.98 and its two-hundred day moving average is $350.89. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.86 and a quick ratio of 1.86.

Insider Activity

In related news, CAO Anurag Saha sold 1,496 shares of the company’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $358.62, for a total transaction of $536,495.52. Following the transaction, the chief accounting officer now directly owns 36,165 shares in the company, valued at approximately $12,969,492.30. This represents a 3.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sameer K. Gandhi sold 6,250 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $345.65, for a total transaction of $2,160,312.50. Following the completion of the sale, the director now directly owns 811,842 shares of the company’s stock, valued at approximately $280,613,187.30. The trade was a 0.76 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,801 shares of company stock worth $42,092,255. 4.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CrowdStrike

Several hedge funds and other institutional investors have recently modified their holdings of CRWD. Berbice Capital Management LLC purchased a new stake in CrowdStrike in the fourth quarter worth $27,000. Fortitude Family Office LLC increased its stake in CrowdStrike by 112.8% in the 4th quarter. Fortitude Family Office LLC now owns 83 shares of the company’s stock worth $28,000 after buying an additional 44 shares during the period. FPC Investment Advisory Inc. increased its stake in CrowdStrike by 811.1% in the 4th quarter. FPC Investment Advisory Inc. now owns 82 shares of the company’s stock worth $28,000 after buying an additional 73 shares during the period. Luken Investment Analytics LLC purchased a new stake in CrowdStrike in the 4th quarter valued at about $34,000. Finally, Crowley Wealth Management Inc. bought a new position in CrowdStrike in the 4th quarter worth about $34,000. 71.16% of the stock is currently owned by hedge funds and other institutional investors.

About CrowdStrike

CrowdStrike Holdings, Inc provides cybersecurity solutions in the United States and internationally. Its unified platform offers cloud-delivered protection of endpoints, cloud workloads, identity, and data. The company offers corporate endpoint and cloud workload security, managed security, security and vulnerability management, IT operations management, identity protection, SIEM and log management, threat intelligence, data protection, security orchestration, automation and response and AI powered workflow automation, and securing generative AI workload services.