CrowdStrike (NASDAQ:CRWD) Trading 1.6% Higher on Analyst Upgrade

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) shares traded up 1.6% on Friday after Morgan Stanley raised their price target on the stock from $415.00 to $455.00. Morgan Stanley currently has an overweight rating on the stock. CrowdStrike traded as high as $440.58 and last traded at $438.56. 658,281 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 5,081,856 shares. The stock had previously closed at $431.84.

Other equities research analysts have also recently issued reports about the company. Roth Capital initiated coverage on CrowdStrike in a research report on Wednesday, April 23rd. They issued a “buy” rating and a $410.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $420.00 target price on shares of CrowdStrike in a research report on Wednesday, March 5th. Stifel Nicolaus reduced their target price on CrowdStrike from $475.00 to $435.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Raymond James cut CrowdStrike from an “outperform” rating to a “cautious” rating in a research report on Monday, March 10th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of CrowdStrike in a research report on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-nine have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $403.56.

Insider Activity

In other news, insider Shawn Henry sold 4,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $450.67, for a total value of $1,802,680.00. Following the completion of the sale, the insider now directly owns 94,214 shares in the company, valued at approximately $42,459,423.38. This trade represents a 4.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO George Kurtz sold 55,556 shares of CrowdStrike stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $447.54, for a total value of $24,863,532.24. Following the completion of the sale, the chief executive officer now owns 2,192,610 shares of the company’s stock, valued at approximately $981,280,679.40. The trade was a 2.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 189,431 shares of company stock worth $76,275,228. 3.32% of the stock is owned by corporate insiders.

Institutional Trading of CrowdStrike

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Empirical Asset Management LLC acquired a new stake in CrowdStrike in the fourth quarter worth about $11,310,000. Primoris Wealth Advisors LLC acquired a new stake in CrowdStrike in the fourth quarter worth about $2,166,000. Arcadia Investment Management Corp MI increased its position in CrowdStrike by 30.8% in the fourth quarter. Arcadia Investment Management Corp MI now owns 11,954 shares of the company’s stock worth $4,090,000 after purchasing an additional 2,814 shares during the period. Greenleaf Trust increased its position in CrowdStrike by 53.4% in the fourth quarter. Greenleaf Trust now owns 2,967 shares of the company’s stock worth $1,015,000 after purchasing an additional 1,033 shares during the period. Finally, Trifecta Capital Advisors LLC boosted its holdings in CrowdStrike by 2,140.3% during the fourth quarter. Trifecta Capital Advisors LLC now owns 8,961 shares of the company’s stock worth $3,066,000 after buying an additional 8,561 shares during the last quarter. 71.16% of the stock is currently owned by institutional investors and hedge funds.

CrowdStrike Stock Performance

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 stock has a market cap of $108.88 billion, a P/E ratio of 861.31, a PEG ratio of 17.86 and a beta of 1.22. The stock has a fifty day simple moving average of $385.84 and a 200-day simple moving average of $374.26.

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.