CrowdStrike (NASDAQ:CRWD) Trading Down 2.6% – Here’s Why

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) shares fell 2.6% during mid-day trading on Friday . The company traded as low as $355.77 and last traded at $356.99. 824,009 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 4,762,175 shares. The stock had previously closed at $366.56.

Analyst Ratings Changes

CRWD has been the topic of several recent research reports. Cantor Fitzgerald reissued an “overweight” rating and set a $440.00 price target on shares of CrowdStrike in a research report on Wednesday, March 5th. BTIG Research upgraded shares of CrowdStrike from a “neutral” rating to a “buy” rating and set a $431.00 target price on the stock in a report on Tuesday. Canaccord Genuity Group lifted their price target on shares of CrowdStrike from $370.00 to $420.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Susquehanna increased their price objective on CrowdStrike from $400.00 to $425.00 and gave the stock a “positive” rating in a research report on Wednesday, March 5th. Finally, Guggenheim restated a “neutral” rating on shares of CrowdStrike in a research report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $400.26.

CrowdStrike Stock Performance

The company has a market cap of $88.46 billion, a PE ratio of 699.69, a PEG ratio of 17.86 and a beta of 1.19. The stock has a 50 day simple moving average of $388.15 and a two-hundred day simple moving average of $347.35. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.86 and a quick ratio of 1.86.

Insider Activity at CrowdStrike

In other news, Director Sameer K. Gandhi sold 6,250 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $345.65, for a total transaction of $2,160,312.50. Following the completion of the sale, the director now owns 811,842 shares in the company, valued at $280,613,187.30. This represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Shawn Henry sold 4,000 shares of CrowdStrike stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $354.91, for a total transaction of $1,419,640.00. Following the completion of the transaction, the insider now owns 98,214 shares in the company, valued at approximately $34,857,130.74. This trade represents a 3.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,801 shares of company stock worth $42,092,255 in the last 90 days. 4.34% of the stock is owned by insiders.

Institutional Trading of CrowdStrike

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in CrowdStrike in the fourth quarter valued at about $1,111,542,000. Pathstone Holdings LLC lifted its holdings in shares of CrowdStrike by 379.0% in the 4th quarter. Pathstone Holdings LLC now owns 1,286,200 shares of the company’s stock valued at $440,116,000 after buying an additional 1,017,678 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of CrowdStrike in the fourth quarter valued at approximately $237,375,000. Voya Investment Management LLC boosted its stake in shares of CrowdStrike by 43.5% in the fourth quarter. Voya Investment Management LLC now owns 1,920,901 shares of the company’s stock valued at $657,106,000 after buying an additional 582,471 shares in the last quarter. Finally, Amundi grew its holdings in CrowdStrike by 41.9% during the fourth quarter. Amundi now owns 1,382,952 shares of the company’s stock worth $496,093,000 after acquiring an additional 408,190 shares during the period. Hedge funds and other institutional investors own 71.16% of the company’s stock.

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.