CrowdStrike (NASDAQ:CRWD) Stock Price Up 6.6% - What's Next?

CrowdStrike Holdings, Inc. (NASDAQ:CRWD - Get Free Report) shares traded up 6.6% during trading on Wednesday . The company traded as high as $396.31 and last traded at $392.90. 1,554,714 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 5,019,274 shares. The stock had previously closed at $368.45.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CRWD. Wedbush raised their target price on CrowdStrike from $390.00 to $395.00 and gave the company an "outperform" rating in a research note on Wednesday, March 5th. Evercore ISI boosted their target price on shares of CrowdStrike from $400.00 to $450.00 and gave the stock an "outperform" rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. raised their target price on shares of CrowdStrike from $418.00 to $450.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Guggenheim reaffirmed a "neutral" rating on shares of CrowdStrike in a report on Wednesday, March 5th. Finally, Wells Fargo & Company increased their price objective on CrowdStrike from $400.00 to $430.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, thirty-one have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $400.76.

CrowdStrike Stock Performance

The stock has a market cap of $96.84 billion, a price-to-earnings ratio of 766.09, a PEG ratio of 17.86 and a beta of 1.28. The firm has a fifty day simple moving average of $372.64 and a 200 day simple moving average of $359.37. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.24.

Insider Buying and Selling

In related news, insider Shawn Henry sold 4,500 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $353.00, for a total transaction of $1,588,500.00. Following the completion of the sale, the insider now directly owns 89,714 shares of the company's stock, valued at $31,669,042. This trade represents a 4.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sameer K. Gandhi sold 6,250 shares of CrowdStrike stock in a transaction on Friday, April 4th. The shares were sold at an average price of $324.16, for a total value of $2,026,000.00. Following the completion of the transaction, the director now owns 768,092 shares of the company's stock, valued at approximately $248,984,702.72. The trade was a 0.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 122,375 shares of company stock valued at $46,197,236 over the last ninety days. 4.34% of the stock is owned by company insiders.

Institutional Investors Weigh In On CrowdStrike

A number of hedge funds have recently added to or reduced their stakes in CRWD. Vanguard Group Inc. raised its position in CrowdStrike by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 21,926,011 shares of the company's stock worth $7,502,204,000 after purchasing an additional 342,294 shares during the last quarter. Jennison Associates LLC raised its position in shares of CrowdStrike by 6.9% during the fourth quarter. Jennison Associates LLC now owns 5,420,980 shares of the company's stock worth $1,854,843,000 after acquiring an additional 352,180 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of CrowdStrike by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 5,018,441 shares of the company's stock valued at $1,712,063,000 after acquiring an additional 124,984 shares during the period. Norges Bank acquired a new stake in CrowdStrike in the fourth quarter worth about $1,111,542,000. Finally, Northern Trust Corp raised its stake in shares of CrowdStrike by 16.6% during the fourth quarter. Northern Trust Corp now owns 2,271,722 shares of the company's stock worth $777,292,000 after buying an additional 324,136 shares during the last quarter. 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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