CrowdStrike (NASDAQ:CRWD) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

CrowdStrike (NASDAQ:CRWD) had its price objective upped by equities research analysts at Wells Fargo & Company from $400.00 to $430.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 21.50% from the company’s previous close.

A number of other equities research analysts have also issued reports on the company. Rosenblatt Securities reiterated a “buy” rating and issued a $450.00 target price on shares of CrowdStrike in a research note on Wednesday. Stifel Nicolaus increased their price objective on shares of CrowdStrike from $400.00 to $475.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. The Goldman Sachs Group boosted their target price on shares of CrowdStrike from $372.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, December 24th. Robert W. Baird lowered their price target on shares of CrowdStrike from $440.00 to $405.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Baird R W lowered shares of CrowdStrike from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-nine have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $393.60.

CrowdStrike Trading Down 9.3 %

NASDAQ CRWD traded down $36.26 during mid-day trading on Wednesday, hitting $353.90. The company’s stock had a trading volume of 6,035,314 shares, compared to its average volume of 3,500,142. The firm has a market capitalization of $87.17 billion, a P/E ratio of 692.57, a price-to-earnings-growth ratio of 17.86 and a beta of 1.19. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.86 and a quick ratio of 1.86. CrowdStrike has a 52-week low of $200.81 and a 52-week high of $455.59. The stock’s fifty day simple moving average is $387.85 and its two-hundred day simple moving average is $337.82.

Insider Activity

In related news, insider Shawn Henry sold 4,500 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $368.14, for a total value of $1,656,630.00. Following the completion of the sale, the insider now owns 115,798 shares in the company, valued at approximately $42,629,875.72. This represents a 3.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Burt W. Podbere sold 11,217 shares of CrowdStrike stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $358.14, for a total transaction of $4,017,256.38. Following the transaction, the chief financial officer now owns 290,711 shares in the company, valued at approximately $104,115,237.54. The trade was a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 100,315 shares of company stock valued at $38,387,254 over the last three months. Insiders own 4.34% of the company’s stock.

Institutional Investors Weigh In On CrowdStrike

Several hedge funds have recently bought and sold shares of the business. Empirical Asset Management LLC acquired a new stake in shares of CrowdStrike during the fourth quarter worth approximately $11,310,000. Beacon Financial Advisory LLC acquired a new stake in shares of CrowdStrike during the 3rd quarter valued at $955,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of CrowdStrike by 10.2% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 846,189 shares of the company’s stock valued at $237,331,000 after acquiring an additional 78,305 shares in the last quarter. Hemenway Trust Co LLC increased its stake in shares of CrowdStrike by 356.8% in the third quarter. Hemenway Trust Co LLC now owns 6,852 shares of the company’s stock worth $1,922,000 after acquiring an additional 5,352 shares during the last quarter. Finally, Arcadia Investment Management Corp MI increased its stake in shares of 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 acquiring an additional 2,814 shares during the last quarter. 71.16% of the stock is owned by hedge funds and other institutional investors.

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.