CrowdStrike (NASDAQ:CRWD) Hits New 52-Week High - What's Next?

CrowdStrike (NASDAQ:CRWD - Get Free Report)'s stock price reached a new 52-week high on Monday . The stock traded as high as $517.98 and last traded at $507.04, with a volume of 2654026 shares traded. The stock had previously closed at $496.10.

Analyst Upgrades and Downgrades

CRWD has been the topic of several research analyst reports. Barclays set a $500.00 target price on shares of CrowdStrike in a research report on Tuesday, June 3rd. Raymond James Financial reissued an "outperform" rating and set a $485.00 target price (up previously from $390.00) on shares of CrowdStrike in a research report on Wednesday, June 4th. Oppenheimer boosted their target price on shares of CrowdStrike from $410.00 to $520.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Truist Financial reissued a "buy" rating and set a $500.00 target price (up previously from $450.00) on shares of CrowdStrike in a research report on Wednesday, June 4th. Finally, The Goldman Sachs Group upped their price objective on shares of CrowdStrike from $389.00 to $530.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-seven have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $453.88.

CrowdStrike Price Performance

The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.21. The stock's 50-day simple moving average is $463.46 and its two-hundred day simple moving average is $406.65. The company has a market capitalization of $125.99 billion, a price-to-earnings ratio of -732.55 and a beta of 1.16.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last issued its earnings results on Tuesday, June 3rd. The company reported $0.73 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.07. The business had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.11 billion. CrowdStrike had a negative net margin of 4.17% and a positive return on equity of 0.43%. The company's quarterly revenue was up 19.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.93 earnings per share. Equities research analysts predict that CrowdStrike will post 0.55 earnings per share for the current year.

Insiders Place Their Bets

In other news, President Michael Sentonas sold 11,527 shares of the stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $471.20, for a total value of $5,431,522.40. Following the completion of the sale, the president directly owned 410,677 shares in the company, valued at $193,511,002.40. This represents a 2.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Burt W. Podbere sold 10,714 shares of the stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $469.49, for a total transaction of $5,030,115.86. Following the completion of the sale, the chief financial officer owned 239,008 shares of the company's stock, valued at $112,211,865.92. This trade represents a 4.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 249,571 shares of company stock valued at $115,469,993. Corporate insiders own 3.32% of the company's stock.

Institutional Investors Weigh In On CrowdStrike

A number of hedge funds have recently modified their holdings of CRWD. Brighton Jones LLC grew its holdings in shares of CrowdStrike by 44.9% in the fourth quarter. Brighton Jones LLC now owns 7,803 shares of the company's stock valued at $2,670,000 after purchasing an additional 2,417 shares during the period. Assetmark Inc. grew its holdings in shares of CrowdStrike by 69.5% in the fourth quarter. Assetmark Inc. now owns 522 shares of the company's stock valued at $179,000 after purchasing an additional 214 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of CrowdStrike in the fourth quarter valued at about $254,000. Machina Capital S.A.S. purchased a new stake in shares of CrowdStrike in the fourth quarter valued at about $304,000. Finally, Bank Julius Baer & Co. Ltd Zurich grew its holdings in shares of CrowdStrike by 3.2% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 57,641 shares of the company's stock valued at $21,004,000 after purchasing an additional 1,780 shares during the period. 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.