CrowdStrike (NASDAQ:CRWD) Trading 1.4% Higher - Here's Why

Key Points

• CrowdStrike (NASDAQ:CRWD) shares increased by 1.4%, trading at approximately $432.60, despite a significant drop in trading volume.
• Research firms have mixed reviews: Piper Sandler downgraded the stock while others, like Susquehanna and Cantor Fitzgerald, raised their price targets, resulting in a consensus price target of $461.17.
• Insider selling was observed, with CEO George Kurtz selling over 42,000 shares valued at approximately $19 million, indicating a 1.94% decrease in his ownership stake.

CrowdStrike (NASDAQ:CRWD - Get Free Report)'s share price rose 1.4% on Tuesday . The company traded as high as $433.98 and last traded at $432.60. Approximately 487,350 shares changed hands during trading, a decline of 87% from the average daily volume of 3,730,850 shares. The stock had previously closed at $426.43.

Wall Street Analyst Weigh In

A number of research firms recently commented on CRWD. Piper Sandler downgraded CrowdStrike from an "overweight" rating to a "neutral" rating and set a $505.00 target price on the stock. in a research report on Monday, July 7th. Susquehanna increased their price objective on shares of CrowdStrike from $425.00 to $530.00 and gave the stock a "positive" rating in a research report on Wednesday, June 4th. Cantor Fitzgerald raised their target price on shares of CrowdStrike from $440.00 to $475.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Canaccord Genuity Group reiterated a "hold" rating and set a $475.00 target price (up from $420.00) on shares of CrowdStrike in a report on Wednesday, June 4th. Finally, UBS Group reaffirmed a "buy" rating on shares of CrowdStrike in a report on Tuesday, June 3rd. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $461.17.

CrowdStrike Stock Up 2.1%

The stock has a market cap of $108.47 billion, a price-to-earnings ratio of -630.75 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. The stock has a fifty day moving average of $475.99 and a two-hundred day moving average of $426.20.

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

Insiders Place Their Bets

In other news, CEO George Kurtz sold 42,267 shares of the business's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $450.47, for a total transaction of $19,040,015.49. Following the transaction, the chief executive officer directly owned 2,132,887 shares of the company's stock, valued at approximately $960,801,606.89. The trade was a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Burt W. Podbere sold 11,883 shares of the stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $455.47, for a total value of $5,412,350.01. Following the completion of the transaction, the chief financial officer directly owned 231,130 shares of the company's stock, valued at $105,272,781.10. This represents a 4.89% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 214,414 shares of company stock valued at $101,484,738. Company insiders own 3.32% of the company's stock.

Institutional Investors Weigh In On CrowdStrike

Institutional investors have recently made changes to their positions in the company. Cloud Capital Management LLC bought a new position in shares of CrowdStrike in the first quarter valued at approximately $25,000. Atlantic Edge Private Wealth Management LLC raised its stake in shares of CrowdStrike by 114.3% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 75 shares of the company's stock worth $26,000 after buying an additional 40 shares in the last quarter. Vision Financial Markets LLC bought a new position in CrowdStrike during the first quarter valued at about $26,000. AlphaQuest LLC acquired a new position in CrowdStrike in the 2nd quarter worth approximately $26,000. Finally, E Fund Management Hong Kong Co. Ltd. grew its position in CrowdStrike by 305.3% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 77 shares of the company's stock worth $27,000 after purchasing an additional 58 shares in the last quarter. 71.16% of the stock is currently owned by institutional investors.

CrowdStrike Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.