CrowdStrike (NASDAQ:CRWD) Shares Up 2% - Still a Buy?

CrowdStrike (NASDAQ:CRWD - Get Free Report) shot up 2% during mid-day trading on Tuesday . The stock traded as high as $486.00 and last traded at $488.94. 744,379 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 5,001,400 shares. The stock had previously closed at $479.39.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CRWD. BMO Capital Markets raised their target price on CrowdStrike from $405.00 to $500.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. BTIG Research reissued a "buy" rating on shares of CrowdStrike in a report on Thursday, May 22nd. Oppenheimer lifted their target price on CrowdStrike from $410.00 to $520.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Jefferies Financial Group lifted their price objective on CrowdStrike from $410.00 to $520.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $485.00 price target (up previously from $390.00) on shares of CrowdStrike in a report on Wednesday, June 4th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $453.17.

CrowdStrike Stock Performance

The firm has a market capitalization of $120.93 billion, a PE ratio of -703.13 and a beta of 1.16. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.85 and a quick ratio of 1.85. The stock has a 50-day moving average price of $434.17 and a 200-day moving average price of $394.15.

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

Insider Activity

In related news, insider Shawn Henry sold 5,096 shares of the business's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $358.43, for a total transaction of $1,826,559.28. Following the transaction, the insider now owns 84,618 shares of the company's stock, valued at approximately $30,329,629.74. The trade was a 5.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Roxanne S. Austin sold 10,000 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $482.50, for a total transaction of $4,825,000.00. Following the transaction, the director now directly owns 18,297 shares of the company's stock, valued at $8,828,302.50. This represents a 35.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold 257,861 shares of company stock worth $109,595,558 over the last quarter. Corporate insiders own 3.32% of the company's stock.

Institutional Trading of CrowdStrike

Several institutional investors have recently modified their holdings of CRWD. Vanguard Group Inc. lifted its position in shares of CrowdStrike by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 22,834,565 shares of the company's stock worth $8,051,011,000 after buying an additional 908,554 shares during the period. Jennison Associates LLC grew its position in shares of CrowdStrike by 21.1% during the 1st quarter. Jennison Associates LLC now owns 6,565,275 shares of the company's stock worth $2,314,785,000 after buying an additional 1,144,295 shares during the period. Geode Capital Management LLC grew its holdings in CrowdStrike by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 5,018,441 shares of the company's stock worth $1,712,063,000 after acquiring an additional 124,984 shares during the period. Norges Bank bought a new stake in CrowdStrike in the fourth quarter valued at about $1,111,542,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in CrowdStrike by 52.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,771,424 shares of the company's stock valued at $977,149,000 after purchasing an additional 955,529 shares during the period. Institutional investors and hedge funds 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.