CrowdStrike (NASDAQ:CRWD) Shares Up 3.6% – Here’s What Happened

CrowdStrike (NASDAQ:CRWD) shot up 3.6% during trading on Friday . The stock traded as high as $517.98 and last traded at $513.77. 2,654,026 shares traded hands during trading, a decline of 44% from the average session volume of 4,779,107 shares. The stock had previously closed at $496.10.

Analyst Ratings Changes

Several research firms have recently commented on CRWD. Bank of America restated a “neutral” rating and set a $470.00 price objective (up previously from $420.00) on shares of CrowdStrike in a report on Wednesday, June 4th. JMP Securities reaffirmed a “market outperform” rating and set a $500.00 target price on shares of CrowdStrike in a research report on Wednesday, June 4th. Piper Sandler lifted their target price on CrowdStrike from $400.00 to $505.00 and gave the company an “overweight” rating in a research report on Wednesday, June 4th. Stifel Nicolaus lifted their target price on CrowdStrike from $480.00 to $495.00 and gave the company a “buy” rating in a research report on Wednesday, June 4th. Finally, Truist Financial reaffirmed a “buy” rating and set a $500.00 target price (up previously from $450.00) on shares of CrowdStrike in a research report on Wednesday, June 4th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-eight have given a buy rating to the stock. Based on data from MarketBeat.com, CrowdStrike has a consensus rating of “Moderate Buy” and a consensus price target of $453.88.

CrowdStrike Price Performance

The firm has a 50-day simple moving average of $463.46 and a two-hundred day simple moving average of $406.27. The company has a market capitalization of $128.06 billion, a price-to-earnings ratio of -744.59 and a beta of 1.16. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.21.

CrowdStrike (NASDAQ:CRWD) last announced its quarterly earnings results on Tuesday, June 3rd. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.07. CrowdStrike had a positive return on equity of 0.43% and a negative net margin of 4.17%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the firm earned $0.93 EPS. The firm’s revenue for the quarter was up 19.8% compared to the same quarter last year. As a group, analysts predict that CrowdStrike will post 0.55 earnings per share for the current fiscal year.

Insider Transactions at CrowdStrike

In other news, CEO George Kurtz sold 55,556 shares of CrowdStrike stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $447.54, for a total transaction of $24,863,532.24. Following the sale, the chief executive officer owned 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Roxanne S. Austin sold 15,000 shares of CrowdStrike stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $497.67, for a total transaction of $7,465,050.00. Following the sale, the director directly owned 18,858 shares in the company, valued at approximately $9,385,060.86. The trade was a 44.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 249,571 shares of company stock worth $115,469,993 in the last three months. 3.32% of the stock is owned by corporate insiders.

Institutional Trading of CrowdStrike

Several institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of CrowdStrike in the fourth quarter worth $1,111,542,000. Nuveen LLC acquired a new position in shares of CrowdStrike in the first quarter worth $595,766,000. Jennison Associates LLC grew its stake in shares of CrowdStrike by 21.1% in the first quarter. Jennison Associates LLC now owns 6,565,275 shares of the company’s stock worth $2,314,785,000 after acquiring an additional 1,144,295 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of CrowdStrike by 50,536.2% in the first quarter. GAMMA Investing LLC now owns 1,086,652 shares of the company’s stock worth $383,132,000 after acquiring an additional 1,084,506 shares in the last quarter. Finally, Pathstone Holdings LLC grew its stake in shares of CrowdStrike by 379.0% in the fourth quarter. Pathstone Holdings LLC now owns 1,286,200 shares of the company’s stock worth $440,116,000 after acquiring an additional 1,017,678 shares in the last quarter. Institutional investors and hedge funds own 71.16% of the company’s stock.

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.