Austin Roxanne S, a director at CrowdStrike Holdings, Inc. (NASDAQ:), sold 5,000 shares of the company's Class A shares on 12/16/2023, according to a recent SEC filing. The cybersecurity giant, currently valued at $86.3 billion, has delivered an impressive 47% year-to-date return, according to InvestingPro data.
The shares were sold at an average price of $387.01 each, for a total transaction value of approximately $1.94 million. After this statement, Roxanne still holds 18,297 shares. Additionally, the filing noted a separate transaction in which 5,000 stock options were exercised at a conversion price of $11.13.
CrowdStrike stock is currently trading near its 52-week high of $398.33, according to InvestingPro analysis. The company also receives an EXCELLENT overall financial health rating. Subscribers can access 13 additional ProTips and a comprehensive Pro Research Report for deeper insights into CrowdStrike's valuation and growth prospects.
In other recent news, CrowdStrike reached a significant milestone: the company surpassed $1 billion in sales with SHI International. This makes CrowdStrike the first and fastest pure Software-as-a-Service (SaaS) cybersecurity provider to achieve this goal. This success is largely attributed to the partnership between CrowdStrike and SHI International, with the latter contributing to over 70 percent of CrowdStrike's total revenue over the past three years. CrowdStrike's Falcon platform, known for its AI-native capabilities, was instrumental in this success.
In a significant change to its stock structure, CrowdStrike converted all outstanding Class B shares into Class A shares, resulting in the discontinuation of Class B common stock. This development has changed the voting rights of CrowdStrike shareholders. Several analyst firms, including Mizuho Securities, KeyBanc and TD Cowen, have maintained CrowdStrike and raised price targets following strong third-quarter results and reviewed positive ratings.
CrowdStrike CFO, Burt Podbere, expressed confidence in the company's Falcon Flex program and its ability to recover and strengthen after a significant IT outage. The company's expansion beyond traditional endpoint security markets was also recognized as particularly successful, supported by an impressive gross margin of 75.24%. These recent developments reflect CrowdStrike Holdings' dynamic business operations.
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