CrowdStrike (NASDAQ:CRWD) Shares Gap Up Following Analyst Upgrade

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) shares gapped up prior to trading on Thursday after Stifel Nicolaus raised their price target on the stock from $375.00 to $400.00. The stock had previously closed at $349.18, but opened at $364.93. Stifel Nicolaus currently has a buy rating on the stock. CrowdStrike shares last traded at $354.53, with a volume of 547,700 shares traded.

Other equities analysts have also recently issued reports about the company. TD Cowen dropped their price objective on CrowdStrike from $400.00 to $380.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. BMO Capital Markets raised their target price on CrowdStrike from $315.00 to $380.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Morgan Stanley increased their price target on CrowdStrike from $325.00 to $355.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Westpark Capital reissued a “hold” rating on shares of CrowdStrike in a report on Monday, November 25th. Finally, Wells Fargo & Company increased their target price on shares of CrowdStrike from $350.00 to $400.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $358.63.

Insider Activity at CrowdStrike

In other news, CAO Anurag Saha sold 1,683 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $297.28, for a total transaction of $500,322.24. Following the transaction, the chief accounting officer now owns 38,962 shares of the company’s stock, valued at approximately $11,582,623.36. This represents a 4.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Michael Sentonas sold 10,776 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $297.28, for a total value of $3,203,489.28. Following the transaction, the president now owns 400,390 shares in the company, valued at approximately $119,027,939.20. This represents a 2.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 144,498 shares of company stock worth $45,599,730 in the last 90 days. 4.34% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CrowdStrike

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp lifted its position in shares of CrowdStrike by 2.9% in the third quarter. State Street Corp now owns 9,630,776 shares of the company’s stock valued at $2,701,144,000 after acquiring an additional 275,717 shares in the last quarter. Jennison Associates LLC raised its stake in CrowdStrike by 25.0% in the 3rd quarter. Jennison Associates LLC now owns 5,068,800 shares of the company’s stock valued at $1,421,646,000 after purchasing an additional 1,013,161 shares during the last quarter. Geode Capital Management LLC lifted its holdings in CrowdStrike by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,893,457 shares of the company’s stock valued at $1,367,505,000 after purchasing an additional 97,990 shares in the last quarter. Legal & General Group Plc boosted its stake in CrowdStrike by 3.0% during the 2nd quarter. Legal & General Group Plc now owns 2,049,704 shares of the company’s stock worth $785,425,000 after purchasing an additional 60,607 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of CrowdStrike by 4.4% during the second quarter. Ameriprise Financial Inc. now owns 1,817,387 shares of the company’s stock worth $696,471,000 after buying an additional 77,100 shares in the last quarter. 71.16% of the stock is owned by institutional investors and hedge funds.

CrowdStrike Price Performance

The stock’s 50-day moving average price is $335.33 and its 200 day moving average price is $314.89. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $87.61 billion, a price-to-earnings ratio of 697.43, a PEG ratio of 19.48 and a beta of 1.11.

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.