CrowdStrike Holdings, Inc. (NASDAQ:CRWD) Short Interest Down 10.1% in October

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) was the recipient of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 8,040,000 shares, a drop of 10.1% from the October 15th total of 8,940,000 shares. Based on an average daily trading volume, of 4,120,000 shares, the short-interest ratio is presently 2.0 days.

Wall Street Analyst Weigh In

CRWD has been the subject of a number of research analyst reports. The Goldman Sachs Group reduced their price objective on shares of CrowdStrike from $400.00 to $295.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Morgan Stanley lifted their price objective on shares of CrowdStrike from $325.00 to $355.00 and gave the stock an “overweight” rating in a research note on Monday. HSBC upgraded CrowdStrike from a “hold” rating to a “buy” rating and boosted their price target for the company from $302.00 to $339.00 in a research note on Friday, August 30th. Westpark Capital reiterated a “hold” rating on shares of CrowdStrike in a research report on Thursday, September 19th. Finally, Truist Financial boosted their price target on CrowdStrike from $325.00 to $375.00 and gave the company a “buy” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-one have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $331.90.

Insiders Place Their Bets

In related news, insider Shawn Henry sold 4,500 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $260.73, for a total value of $1,173,285.00. Following the completion of the sale, the insider now owns 174,591 shares in the company, valued at $45,521,111.43. This represents a 2.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sameer K. Gandhi sold 5,036 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $320.48, for a total value of $1,613,937.28. Following the sale, the director now directly owns 816,730 shares of the company’s stock, valued at approximately $261,745,630.40. The trade was a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 108,248 shares of company stock worth $32,465,110. Insiders own 4.34% of the company’s stock.

Hedge Funds Weigh In On CrowdStrike

Several institutional investors and hedge funds have recently made changes to their positions in the business. Abich Financial Wealth Management LLC bought a new stake in shares of CrowdStrike in the 2nd quarter valued at about $25,000. Oakworth Capital Inc. purchased a new stake in shares of CrowdStrike during the third quarter worth about $28,000. Tsfg LLC increased its holdings in CrowdStrike by 593.3% during the 3rd quarter. Tsfg LLC now owns 104 shares of the company’s stock valued at $29,000 after purchasing an additional 89 shares during the period. Family Firm Inc. purchased a new stake in CrowdStrike in the 2nd quarter worth approximately $30,000. Finally, Castleview Partners LLC purchased a new position in shares of CrowdStrike in the 3rd quarter valued at approximately $32,000. Institutional investors own 71.16% of the company’s stock.

CrowdStrike Stock Performance

NASDAQ:CRWD traded up $8.56 on Tuesday, reaching $351.53. 1,913,158 shares of the company’s stock were exchanged, compared to its average volume of 4,998,443. The stock has a fifty day simple moving average of $299.72 and a 200-day simple moving average of $310.63. The firm has a market cap of $86.17 billion, a price-to-earnings ratio of 501.32, a P/E/G ratio of 22.77 and a beta of 1.10. CrowdStrike has a 52 week low of $200.81 and a 52 week high of $398.33. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.90 and a quick ratio of 1.90.

CrowdStrike (NASDAQ:CRWD) last released its earnings results on Wednesday, August 28th. The company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. The business had revenue of $963.87 million for the quarter, compared to analysts’ expectations of $958.27 million. CrowdStrike had a return on equity of 8.44% and a net margin of 4.84%. The firm’s revenue was up 31.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.06 earnings per share. As a group, sell-side analysts predict that CrowdStrike will post 0.52 earnings per share for the current year.

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.