CrowdStrike (NASDAQ:CRWD) Stock Price Up 2.3% - Here's Why

CrowdStrike (NASDAQ:CRWD - Get Free Report)'s stock price shot up 2.3% on Wednesday . The stock traded as high as $500.41 and last traded at $496.77. 1,440,289 shares changed hands during trading, a decline of 70% from the average session volume of 4,785,487 shares. The stock had previously closed at $485.38.

Analysts Set New Price Targets

A number of research firms recently commented on CRWD. Guggenheim reiterated a "neutral" rating on shares of CrowdStrike in a report on Wednesday, March 5th. BMO Capital Markets upped their price target on CrowdStrike from $405.00 to $500.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. Mizuho increased their price objective on CrowdStrike from $425.00 to $450.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. The Goldman Sachs Group boosted their target price on CrowdStrike from $389.00 to $530.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Finally, Scotiabank boosted their price objective on CrowdStrike from $370.00 to $480.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $453.17.

CrowdStrike Price Performance

The firm has a market cap of $123.03 billion, a P/E ratio of -715.69 and a beta of 1.16. The stock's 50-day moving average is $444.73 and its 200-day moving average is $398.54. 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 released its earnings results on Tuesday, June 3rd. The company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the business earned $0.93 earnings per share. The firm's revenue for the quarter was up 19.8% compared to the same quarter last year. As a group, equities analysts anticipate that CrowdStrike will post 0.55 EPS for the current fiscal year.

Insider Activity

In other CrowdStrike news, Director Sameer K. Gandhi sold 6,250 shares of CrowdStrike stock in a transaction on Friday, April 4th. The stock was sold at an average price of $324.16, for a total transaction of $2,026,000.00. Following the completion of the transaction, the director now directly owns 768,092 shares of the company's stock, valued at approximately $248,984,702.72. This trade represents a 0.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO George Kurtz sold 55,556 shares of the business's stock in a transaction 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 in the company, valued at $981,280,679.40. This represents a 2.47% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 197,060 shares of company stock worth $87,750,868. 3.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CrowdStrike

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of CrowdStrike by 4.1% during the first 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 in the last quarter. Jennison Associates LLC grew its position in 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 acquiring an additional 1,144,295 shares during the last quarter. Geode Capital Management LLC grew its position 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 last quarter. Norges Bank acquired a new stake in CrowdStrike during the 4th quarter valued at $1,111,542,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in CrowdStrike by 52.6% in the 1st 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 last quarter. 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.

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