CrowdStrike (NASDAQ:CRWD) Shares Up 1.6% - Here's Why

CrowdStrike Holdings, Inc. (NASDAQ:CRWD - Get Free Report)'s share price shot up 1.6% during trading on Friday . The stock traded as high as $301.71 and last traded at $301.70. 602,874 shares traded hands during trading, a decline of 88% from the average session volume of 5,096,371 shares. The stock had previously closed at $296.87.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CRWD shares. Evercore ISI reduced their price target on CrowdStrike from $350.00 to $325.00 and set an "outperform" rating for the company in a report on Tuesday, July 30th. Citigroup dropped their target price on CrowdStrike from $345.00 to $300.00 and set a "buy" rating on the stock in a research report on Wednesday, August 14th. TD Cowen lowered their price objective on CrowdStrike from $400.00 to $380.00 and set a "buy" rating on the stock in a research report on Thursday, August 29th. Redburn Atlantic cut CrowdStrike from a "neutral" rating to a "sell" rating and lowered their price target for the stock from $380.00 to $275.00 in a report on Thursday, July 18th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on CrowdStrike from $350.00 to $275.00 and set a "hold" rating on the stock in a report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $328.74.

CrowdStrike Stock Up 1.9 %

The firm has a market capitalization of $74.16 billion, a PE ratio of 437.25, a PEG ratio of 20.79 and a beta of 1.10. The company has a fifty day simple moving average of $284.22 and a two-hundred day simple moving average of $307.74. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.90 and a current ratio of 1.90.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.97 by $0.07. CrowdStrike had a return on equity of 8.44% and a net margin of 4.84%. The company had revenue of $963.87 million for the quarter, compared to the consensus estimate of $958.27 million. During the same quarter last year, the company earned $0.06 earnings per share. The firm's revenue for the quarter was up 31.7% compared to the same quarter last year. Analysts forecast that CrowdStrike Holdings, Inc. will post 0.52 EPS for the current fiscal year.

Insider Activity at CrowdStrike

In related news, CAO Anurag Saha sold 1,683 shares of the firm's stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $297.28, for a total transaction of $500,322.24. Following the sale, the chief accounting officer now owns 38,962 shares of the company's stock, valued at $11,582,623.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other CrowdStrike news, CAO Anurag Saha sold 1,683 shares of the firm's stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $297.28, for a total value of $500,322.24. Following the completion of the sale, the chief accounting officer now owns 38,962 shares of the company's stock, valued at approximately $11,582,623.36. This trade represents a 0.00 % 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 the SEC website. Also, President Michael Sentonas sold 10,776 shares of the firm's stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $297.28, for a total value of $3,203,489.28. Following the completion of the transaction, the president now owns 400,390 shares of the company's stock, valued at approximately $119,027,939.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 103,212 shares of company stock valued at $30,529,413 over the last quarter. 4.34% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Abich Financial Wealth Management LLC purchased a new position in CrowdStrike during the second quarter valued at approximately $25,000. Family Firm Inc. purchased a new position in CrowdStrike during the second quarter valued at approximately $30,000. Itau Unibanco Holding S.A. purchased a new position in CrowdStrike during the second quarter valued at approximately $33,000. Unique Wealth Strategies LLC purchased a new position in CrowdStrike during the second quarter valued at approximately $36,000. Finally, Hobbs Group Advisors LLC purchased a new position in CrowdStrike during the second quarter valued at approximately $38,000. 71.16% of the stock is currently owned by hedge funds and other institutional investors.

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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