CrowdStrike (NASDAQ:CRWD) Trading Down 1% – Here’s What Happened

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) dropped 1% during trading on Thursday . The stock traded as low as $373.46 and last traded at $374.08. Approximately 575,272 shares were traded during trading, a decline of 79% from the average daily volume of 2,794,317 shares. The stock had previously closed at $377.98.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. HSBC downgraded shares of CrowdStrike from a “buy” rating to a “hold” rating and set a $347.00 target price for the company. in a research note on Wednesday, November 27th. Citigroup boosted their target price on CrowdStrike from $400.00 to $420.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. CICC Research started coverage on CrowdStrike in a research note on Monday, November 18th. They issued a “market perform” rating and a $295.00 price target for the company. Wells Fargo & Company boosted their price target on CrowdStrike from $350.00 to $400.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Finally, Barclays increased their price objective on shares of CrowdStrike from $295.00 to $372.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $369.00.

CrowdStrike Price Performance

The stock’s 50 day moving average is $358.65 and its two-hundred day moving average is $312.32. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.86 and a current ratio of 1.86. The stock has a market capitalization of $92.35 billion, a PE ratio of 735.15, a price-to-earnings-growth ratio of 20.07 and a beta of 1.14.

Insider Activity

In other news, CAO Anurag Saha sold 1,863 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $358.46, for a total transaction of $667,810.98. Following the transaction, the chief accounting officer now directly owns 41,059 shares in the company, valued at $14,718,009.14. The trade was a 4.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Shawn Henry sold 4,500 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $368.14, for a total value of $1,656,630.00. Following the completion of the sale, the insider now owns 115,798 shares of the company’s stock, valued at $42,629,875.72. This trade represents a 3.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 110,351 shares of company stock worth $38,935,113 over the last quarter. 4.34% of the stock is currently owned by corporate insiders.

Institutional Trading of CrowdStrike

Several large investors have recently added to or reduced their stakes in CRWD. Empirical Asset Management LLC purchased a new position in CrowdStrike during the fourth quarter worth about $11,310,000. Beacon Financial Advisory LLC purchased a new stake in CrowdStrike in the third quarter valued at approximately $955,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in CrowdStrike by 10.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 846,189 shares of the company’s stock worth $237,331,000 after purchasing an additional 78,305 shares in the last quarter. Doliver Advisors LP grew its stake in shares of CrowdStrike by 223.2% in the third quarter. Doliver Advisors LP now owns 6,754 shares of the company’s stock valued at $1,894,000 after buying an additional 4,664 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of CrowdStrike by 0.7% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 439,865 shares of the company’s stock valued at $124,644,000 after buying an additional 2,863 shares during the period. 71.16% of the stock is currently owned by hedge funds and other institutional investors.

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.