CrowdStrike (NASDAQ:CRWD) Stock Price Down 3.4% – Here’s What Happened

CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s share price dropped 3.4% on Friday . The company traded as low as $344.70 and last traded at $346.48. Approximately 923,158 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 2,384,126 shares. The stock had previously closed at $358.72.

Wall Street Analysts Forecast Growth

CRWD has been the topic of a number of research analyst reports. Truist Financial raised their target price on shares of CrowdStrike from $375.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Westpark Capital reiterated a “hold” rating on shares of CrowdStrike in a research note on Monday, November 25th. BNP Paribas started coverage on CrowdStrike in a research note on Tuesday, October 8th. They set a “neutral” rating and a $285.00 target price for the company. Piper Sandler lifted their price target on CrowdStrike from $290.00 to $375.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Finally, Royal Bank of Canada increased their price objective on CrowdStrike from $365.00 to $420.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, CrowdStrike currently has an average rating of “Moderate Buy” and a consensus target price of $365.88.

CrowdStrike Stock Down 2.8 %

The firm has a 50 day moving average price of $352.17 and a 200-day moving average price of $313.50. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.86 and a quick ratio of 1.86. The firm has a market cap of $85.92 billion, a price-to-earnings ratio of 684.01, a price-to-earnings-growth ratio of 19.48 and a beta of 1.14.

Insider Buying and Selling at CrowdStrike

In other CrowdStrike news, insider Shawn Henry sold 4,500 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $368.14, for a total value of $1,656,630.00. Following the transaction, the insider now owns 115,798 shares of the company’s stock, valued at approximately $42,629,875.72. This represents a 3.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sameer K. Gandhi sold 6,250 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $345.65, for a total value of $2,160,312.50. Following the completion of the sale, the director now directly owns 811,842 shares of the company’s stock, valued at approximately $280,613,187.30. This trade represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,351 shares of company stock worth $38,752,993. Company 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 company. State Street Corp increased its holdings in shares of CrowdStrike by 2.9% in the third quarter. State Street Corp now owns 9,630,776 shares of the company’s stock worth $2,701,144,000 after acquiring an additional 275,717 shares in the last quarter. Jennison Associates LLC raised its holdings in CrowdStrike by 25.0% during the 3rd quarter. Jennison Associates LLC now owns 5,068,800 shares of the company’s stock worth $1,421,646,000 after buying an additional 1,013,161 shares during the period. Geode Capital Management LLC lifted its stake in CrowdStrike by 2.0% in the third quarter. Geode Capital Management LLC now owns 4,893,457 shares of the company’s stock valued at $1,367,505,000 after buying an additional 97,990 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of CrowdStrike by 3.0% in the second quarter. Legal & General Group Plc now owns 2,049,704 shares of the company’s stock valued at $785,425,000 after buying an additional 60,607 shares during the period. Finally, Ameriprise Financial Inc. increased its position in shares of CrowdStrike by 4.4% during the second quarter. Ameriprise Financial Inc. now owns 1,817,387 shares of the company’s stock worth $696,471,000 after acquiring an additional 77,100 shares in the last quarter. Institutional investors and hedge funds 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.