CrowdStrike (NASDAQ:CRWD) Stock Price Up 2.3% Following Analyst Upgrade

CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s stock price rose 2.3% during trading on Monday after JMP Securities raised their price target on the stock from $400.00 to $500.00. JMP Securities currently has a market outperform rating on the stock. CrowdStrike traded as high as $450.41 and last traded at $450.53. Approximately 853,744 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 5,050,801 shares. The stock had previously closed at $440.58.

Other research analysts also recently issued research reports about the stock. Royal Bank of Canada reaffirmed an “outperform” rating on shares of CrowdStrike in a research note on Wednesday, March 5th. Piper Sandler set a $347.00 price target on shares of CrowdStrike in a report on Wednesday, March 5th. Scotiabank restated a “sector perform” rating on shares of CrowdStrike in a report on Wednesday, February 5th. The Goldman Sachs Group reiterated a “buy” rating on shares of CrowdStrike in a report on Wednesday, March 5th. Finally, Rosenblatt Securities restated a “buy” rating and set a $450.00 price target on shares of CrowdStrike in a research note on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, thirty have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, CrowdStrike has an average rating of “Moderate Buy” and a consensus target price of $403.20.

Insiders Place Their Bets

In other news, insider Shawn Henry sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were 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 of the company’s stock, valued at approximately $42,459,423.38. This represents a 4.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction, the director now owns 768,092 shares in the company, valued at approximately $248,984,702.72. This trade represents a 0.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 132,875 shares of company stock worth $50,630,611. Insiders own 4.34% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new position in CrowdStrike in the fourth quarter valued at about $1,111,542,000. Jennison Associates LLC grew its stake in CrowdStrike by 21.1% in the 1st quarter. Jennison Associates LLC now owns 6,565,275 shares of the company’s stock valued at $2,314,785,000 after buying an additional 1,144,295 shares during the last quarter. GAMMA Investing LLC increased 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 purchasing an additional 1,084,506 shares during the period. Pathstone Holdings LLC lifted its position in shares of CrowdStrike by 379.0% during the 4th quarter. Pathstone Holdings LLC now owns 1,286,200 shares of the company’s stock worth $440,116,000 after purchasing an additional 1,017,678 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in CrowdStrike during the 4th quarter valued at approximately $237,375,000. 71.16% of the stock is currently owned by institutional investors and hedge funds.

CrowdStrike Price Performance

The stock has a market cap of $109.86 billion, a price-to-earnings ratio of 869.06, a price-to-earnings-growth ratio of 17.86 and a beta of 1.22. The stock has a fifty day simple moving average of $374.02 and a 200-day simple moving average of $367.80. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.24.

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.