Barclays Reiterates "Overweight" Rating for CrowdStrike (NASDAQ:CRWD)

CrowdStrike (NASDAQ:CRWD - Get Free Report)'s stock had its "overweight" rating reissued by Barclays in a research report issued on Wednesday, Marketbeat reports. They currently have a $500.00 price objective on the stock, up from their prior price objective of $475.00. Barclays's price objective indicates a potential upside of 7.34% from the company's current price.

Several other equities analysts have also recently weighed in on CRWD. Wells Fargo & Company raised their target price on shares of CrowdStrike from $400.00 to $430.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Citigroup restated an "outperform" rating on shares of CrowdStrike in a research report on Monday, May 5th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of CrowdStrike in a report on Wednesday, March 5th. KeyCorp dropped their price target on CrowdStrike from $480.00 to $450.00 and set an "overweight" rating for the company in a research note on Wednesday, March 5th. Finally, Bank of America lifted their price objective on CrowdStrike from $400.00 to $420.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-nine have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $408.12.

CrowdStrike Price Performance

CRWD stock traded up $7.01 during midday trading on Wednesday, hitting $465.82. The company's stock had a trading volume of 4,481,144 shares, compared to its average volume of 5,121,588. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.24. CrowdStrike has a 12 month low of $200.81 and a 12 month high of $474.23. The company has a 50 day moving average of $404.18 and a two-hundred day moving average of $383.65. The firm has a market capitalization of $115.46 billion, a price-to-earnings ratio of 913.39, a price-to-earnings-growth ratio of 17.86 and a beta of 1.22.

Insider Buying and Selling

In related news, CEO George Kurtz sold 55,556 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $447.54, for a total transaction of $24,863,532.24. Following the completion of the sale, the chief executive officer now owns 2,192,610 shares of the company's stock, valued at $981,280,679.40. This represents a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Anurag Saha sold 1,496 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $358.62, for a total transaction of $536,495.52. Following the completion of the sale, the chief accounting officer now owns 36,165 shares of the company's stock, valued at approximately $12,969,492.30. This trade represents a 3.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 195,431 shares of company stock worth $79,162,548 in the last three months. 3.32% of the stock is owned by insiders.

Institutional Trading of CrowdStrike

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in CrowdStrike in the fourth quarter worth about $1,111,542,000. Nuveen LLC purchased a new position in shares of CrowdStrike in the 1st quarter valued at approximately $595,766,000. Jennison Associates LLC boosted its stake in CrowdStrike by 21.1% in the 1st quarter. Jennison Associates LLC now owns 6,565,275 shares of the company's stock worth $2,314,785,000 after purchasing an additional 1,144,295 shares in the last quarter. GAMMA Investing LLC grew its position in CrowdStrike by 50,536.2% during the 1st quarter. GAMMA Investing LLC now owns 1,086,652 shares of the company's stock worth $383,132,000 after purchasing an additional 1,084,506 shares during the last quarter. Finally, Pathstone Holdings LLC grew its position in CrowdStrike by 379.0% during the 4th quarter. Pathstone Holdings LLC now owns 1,286,200 shares of the company's stock worth $440,116,000 after purchasing an additional 1,017,678 shares during the last quarter. Hedge funds and other institutional investors own 71.16% of the company's stock.

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.