CrowdStrike (NASDAQ:CRWD) Trading 2.8% Higher - Here's Why

CrowdStrike Holdings, Inc. (NASDAQ:CRWD - Get Free Report) rose 2.8% during mid-day trading on Wednesday . The company traded as high as $376.25 and last traded at $373.46. Approximately 860,834 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 4,724,221 shares. The stock had previously closed at $363.15.

Wall Street Analysts Forecast Growth

CRWD has been the topic of a number of recent research reports. Susquehanna raised their target price on shares of CrowdStrike from $400.00 to $425.00 and gave the stock a "positive" rating in a report on Wednesday, March 5th. BMO Capital Markets boosted their target price on CrowdStrike from $380.00 to $405.00 and gave the stock an "outperform" rating in a report on Wednesday, March 5th. Canaccord Genuity Group lifted their price target on shares of CrowdStrike from $370.00 to $420.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. KeyCorp decreased their price target on shares of CrowdStrike from $480.00 to $450.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 5th. Finally, Jefferies Financial Group decreased their price target on shares of CrowdStrike from $450.00 to $425.00 and set a "buy" rating on the stock in a research report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, CrowdStrike presently has a consensus rating of "Moderate Buy" and a consensus target price of $399.51.

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CrowdStrike Stock Performance

The company has a market cap of $89.79 billion, a P/E ratio of 710.29, a P/E/G ratio of 17.86 and a beta of 1.19. The firm's fifty day moving average price is $386.53 and its 200-day moving average price is $344.11. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.24.

Insiders Place Their Bets

In other news, CEO George Kurtz sold 18,071 shares of CrowdStrike stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $359.70, for a total transaction of $6,500,138.70. Following the transaction, the chief executive officer now directly owns 2,159,935 shares of the company's stock, valued at $776,928,619.50. This trade represents a 0.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Anurag Saha sold 1,863 shares of the firm's stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $358.46, for a total transaction of $667,810.98. Following the sale, the chief accounting officer now owns 41,059 shares in the company, valued at approximately $14,718,009.14. The trade was a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 100,315 shares of company stock valued at $38,319,124. 4.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Empirical Asset Management LLC acquired a new position in CrowdStrike during the 4th quarter worth approximately $11,310,000. Arcadia Investment Management Corp MI increased its holdings in CrowdStrike by 30.8% during the fourth quarter. Arcadia Investment Management Corp MI now owns 11,954 shares of the company's stock worth $4,090,000 after buying an additional 2,814 shares during the last quarter. Greenleaf Trust increased its holdings in CrowdStrike by 53.4% during the fourth quarter. Greenleaf Trust now owns 2,967 shares of the company's stock worth $1,015,000 after buying an additional 1,033 shares during the last quarter. Trifecta Capital Advisors LLC increased its stake in shares of CrowdStrike by 2,140.3% in the fourth quarter. Trifecta Capital Advisors LLC now owns 8,961 shares of the company's stock worth $3,066,000 after purchasing an additional 8,561 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in shares of CrowdStrike by 42.6% in the fourth quarter. Fifth Third Bancorp now owns 44,609 shares of the company's stock valued at $15,263,000 after acquiring an additional 13,323 shares during the period. 71.16% of the stock is currently owned by institutional investors and hedge funds.

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.