CrowdStrike (NASDAQ:CRWD) to Repurchase $500.00 million in Outstanding Shares

CrowdStrike (NASDAQ:CRWDGet Free Report) declared that its Board of Directors has initiated a share buyback plan on Monday, April 6th, RTT News reports. The company plans to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 0.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

CrowdStrike Stock Performance

Shares of CRWD stock traded down $0.51 on Monday, hitting $398.61. 1,594,213 shares of the stock traded hands, compared to its average volume of 3,523,210. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.77 and a quick ratio of 1.77. The company has a market capitalization of $101.09 billion, a PE ratio of -538.65, a PEG ratio of 17.51 and a beta of 1.07. CrowdStrike has a 1-year low of $298.00 and a 1-year high of $566.90. The company’s fifty day moving average is $410.52 and its 200 day moving average is $466.59.

CrowdStrike (NASDAQ:CRWDGet Free Report) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.02. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. CrowdStrike had a negative return on equity of 0.14% and a negative net margin of 3.81%.The business’s revenue was up 23.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.03 EPS. On average, equities research analysts predict that CrowdStrike will post 0.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CRWD has been the topic of a number of recent analyst reports. BMO Capital Markets cut their target price on CrowdStrike from $555.00 to $500.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 4th. Argus cut their target price on CrowdStrike from $600.00 to $520.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. Wedbush reaffirmed an “outperform” rating and issued a $550.00 target price on shares of CrowdStrike in a research report on Wednesday, March 4th. Canaccord Genuity Group dropped their price target on CrowdStrike from $515.00 to $400.00 and set a “hold” rating on the stock in a research report on Wednesday, March 4th. Finally, Stephens upped their price target on CrowdStrike from $465.00 to $490.00 and gave the company an “overweight” rating in a research report on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $504.98.

View Our Latest Report on CRWD

Insider Activity

In related news, CAO Anurag Saha sold 1,138 shares of the company’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $411.06, for a total transaction of $467,786.28. Following the completion of the transaction, the chief accounting officer directly owned 42,588 shares in the company, valued at $17,506,223.28. This represents a 2.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Burt W. Podbere sold 7,871 shares of the company’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $415.78, for a total value of $3,272,604.38. Following the transaction, the chief financial officer owned 169,613 shares of the company’s stock, valued at approximately $70,521,693.14. The trade was a 4.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 68,636 shares of company stock worth $28,690,657 over the last 90 days. Insiders own 3.32% of the company’s stock.

Key Stories Impacting CrowdStrike

Here are the key news stories impacting CrowdStrike this week:

CrowdStrike Company Profile

Get Free Report)

CrowdStrike Holdings, Inc (NASDAQ: CRWD) is a cybersecurity company founded in 2011 and headquartered in Sunnyvale, California. The firm was co-founded by George Kurtz and Dmitri Alperovitch and became a publicly traded company following its initial public offering in 2019. CrowdStrike positions itself as a provider of cloud-native security solutions designed to protect endpoints, cloud workloads, identities and data against sophisticated cyber threats.

The company’s core offering is the CrowdStrike Falcon platform, a modular, cloud-delivered security architecture that combines endpoint protection (EPP), endpoint detection and response (EDR), threat intelligence, and device control through lightweight agents and centralized telemetry.

Further Reading

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