CrowdStrike (NASDAQ:CRWD) Trading 5.6% Higher After Analyst Upgrade

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) traded up 5.6% during mid-day trading on Wednesday after UBS Group raised their price target on the stock from $396.00 to $450.00. UBS Group currently has a buy rating on the stock. CrowdStrike traded as high as $400.15 and last traded at $400.98. 1,289,835 shares traded hands during trading, a decline of 60% from the average session volume of 3,263,468 shares. The stock had previously closed at $379.75.

Other analysts have also recently issued research reports about the stock. HSBC cut shares of CrowdStrike from a “buy” rating to a “hold” rating and set a $347.00 price objective for the company. in a research note on Wednesday, November 27th. Cantor Fitzgerald increased their price target on shares of CrowdStrike from $350.00 to $370.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Needham & Company LLC increased their price target on shares of CrowdStrike from $360.00 to $420.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Evercore ISI increased their price target on shares of CrowdStrike from $325.00 to $400.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. Finally, Mizuho increased their price target on shares of CrowdStrike from $385.00 to $450.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-nine have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $387.08.

Insider Activity

In other news, CAO Anurag Saha sold 1,863 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $358.46, for a total value of $667,810.98. Following the sale, the chief accounting officer now directly owns 41,059 shares in the company, valued at approximately $14,718,009.14. This trade represents a 4.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gerhard Watzinger sold 30,000 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $348.93, for a total transaction of $10,467,900.00. Following the completion of the transaction, the director now directly owns 42,391 shares in the company, valued at $14,791,491.63. This trade represents a 41.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 136,565 shares of company stock worth $51,038,529. 4.34% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CRWD. Empirical Asset Management LLC purchased a new position in CrowdStrike during the 4th quarter worth $11,310,000. Beacon Financial Advisory LLC purchased a new position in CrowdStrike during the 3rd quarter worth $955,000. Sumitomo Mitsui Trust Group Inc. grew its position in CrowdStrike by 10.2% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 846,189 shares of the company’s stock worth $237,331,000 after purchasing an additional 78,305 shares during the last quarter. Hemenway Trust Co LLC grew its position in CrowdStrike by 356.8% during the 3rd quarter. Hemenway Trust Co LLC now owns 6,852 shares of the company’s stock worth $1,922,000 after purchasing an additional 5,352 shares during the last quarter. Finally, Arcadia Investment Management Corp MI grew its position in CrowdStrike by 30.8% during the 4th quarter. Arcadia Investment Management Corp MI now owns 11,954 shares of the company’s stock worth $4,090,000 after purchasing an additional 2,814 shares during the last quarter. 71.16% of the stock is owned by hedge funds and other institutional investors.

CrowdStrike Price Performance

The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.86 and a current ratio of 1.86. The company has a market capitalization of $97.18 billion, a PE ratio of 773.66, a P/E/G ratio of 17.86 and a beta of 1.16. The company’s 50-day simple moving average is $385.81 and its 200-day simple moving average is $333.53.

CrowdStrike Company Profile

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.