CrowdStrike (NASDAQ:CRWD) Stock Price Up 1.1% - Here's Why

Key Points

• CrowdStrike's stock price increased by 1.1% to $446.56, with trading volume significantly declining to 511,553 shares, compared to an average of 3.7 million.
• Analyst ratings show a consensus of "Moderate Buy", with an average target price of $461.17, despite a sell rating from one analyst.
• Insider selling has been notable, with the President and CEO selling shares worth over $20 million in total, indicating potential concerns about stock valuation.

CrowdStrike (NASDAQ:CRWD - Get Free Report) shares shot up 1.1% on Wednesday . The stock traded as high as $448.51 and last traded at $446.56. 511,553 shares changed hands during trading, a decline of 86% from the average session volume of 3,737,293 shares. The stock had previously closed at $441.75.

Analyst Ratings Changes

A number of brokerages have commented on CRWD. Macquarie assumed coverage on shares of CrowdStrike in a report on Thursday, July 17th. They set a "neutral" rating and a $465.00 target price for the company. Westpark Capital reaffirmed a "hold" rating on shares of CrowdStrike in a research note on Thursday, June 5th. Oppenheimer raised their price target on shares of CrowdStrike from $410.00 to $520.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. Citigroup restated an "outperform" rating on shares of CrowdStrike in a research note on Monday, May 5th. Finally, Morgan Stanley reissued an "equal weight" rating and issued a $495.00 price target (up previously from $490.00) on shares of CrowdStrike in a report on Monday, July 14th. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and twenty-six have given a buy rating to the company's stock. Based on data from MarketBeat, CrowdStrike presently has a consensus rating of "Moderate Buy" and an average target price of $461.17.

CrowdStrike Stock Up 1.8%

The firm has a fifty day moving average of $478.89 and a 200-day moving average of $424.11. The firm has a market cap of $112.12 billion, a P/E ratio of -653.42 and a beta of 1.13. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.21.

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

Insider Buying and Selling

In other news, President Michael Sentonas sold 25,000 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $477.00, for a total value of $11,925,000.00. Following the completion of the transaction, the president directly owned 422,204 shares in the company, valued at approximately $201,391,308. This represents a 5.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO George Kurtz sold 17,525 shares of the firm's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $477.62, for a total value of $8,370,290.50. Following the transaction, the chief executive officer directly owned 2,175,154 shares of the company's stock, valued at approximately $1,038,897,053.48. This represents a 0.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 160,264 shares of company stock worth $77,032,372 in the last ninety days. Insiders own 3.32% of the company's stock.

Hedge Funds Weigh In On CrowdStrike

A number of hedge funds and other institutional investors have recently modified their holdings of CRWD. Vanguard Group Inc. grew 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 valued at $8,051,011,000 after purchasing an additional 908,554 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of CrowdStrike by 21.1% during the first 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 during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of 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 worth $977,149,000 after purchasing an additional 955,529 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of CrowdStrike by 39.9% during the first quarter. Goldman Sachs Group Inc. now owns 2,665,344 shares of the company's stock worth $939,747,000 after purchasing an additional 760,222 shares during the period. Finally, Invesco Ltd. raised its stake in CrowdStrike by 16.4% in the first quarter. Invesco Ltd. now owns 2,506,418 shares of the company's stock worth $883,713,000 after buying an additional 352,473 shares in 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.

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