CrowdStrike (NASDAQ:CRWD) Trading Down 3.1% – Here’s What Happened

CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s share price was down 3.1% on Thursday . The company traded as low as $332.85 and last traded at $336.08. Approximately 1,074,788 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 4,019,136 shares. The stock had previously closed at $346.76.

Analysts Set New Price Targets

A number of analysts recently weighed in on CRWD shares. Bank of America increased their price objective on shares of CrowdStrike from $400.00 to $420.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Westpark Capital reissued a “hold” rating on shares of CrowdStrike in a research report on Wednesday, March 5th. Royal Bank of Canada reissued an “outperform” rating on shares of CrowdStrike in a research report on Wednesday, March 5th. Truist Financial increased their price objective on shares of CrowdStrike from $385.00 to $460.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, Oppenheimer increased their price objective on shares of CrowdStrike from $365.00 to $410.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $398.78.

CrowdStrike Trading Up 6.4 %

The stock’s fifty day simple moving average is $385.70 and its 200-day simple moving average is $340.82. The firm has a market cap of $87.13 billion, a PE ratio of 693.60, a PEG ratio of 17.86 and a beta of 1.19. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.86 and a quick ratio of 1.86.

Insiders Place Their Bets

In related news, insider Shawn Henry sold 4,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $450.67, for a total transaction of $1,802,680.00. Following the completion of the transaction, the insider now owns 94,214 shares of the company’s stock, valued at $42,459,423.38. This trade represents a 4.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sameer K. Gandhi sold 6,250 shares of the firm’s stock in a transaction 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 transaction, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 100,315 shares of company stock valued at $38,387,254. Insiders own 4.34% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Empirical Asset Management LLC purchased a new position in shares of CrowdStrike during the fourth quarter worth $11,310,000. Arcadia Investment Management Corp MI increased its holdings in CrowdStrike by 30.8% in the fourth quarter. Arcadia Investment Management Corp MI now owns 11,954 shares of the company’s stock valued at $4,090,000 after buying an additional 2,814 shares in the last quarter. Greenleaf Trust increased its holdings in CrowdStrike by 53.4% in the fourth quarter. Greenleaf Trust now owns 2,967 shares of the company’s stock valued at $1,015,000 after buying an additional 1,033 shares in the last quarter. Trifecta Capital Advisors LLC increased its holdings in CrowdStrike by 2,140.3% in the fourth quarter. Trifecta Capital Advisors LLC now owns 8,961 shares of the company’s stock valued at $3,066,000 after buying an additional 8,561 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in CrowdStrike by 42.6% in the fourth quarter. Fifth Third Bancorp now owns 44,609 shares of the company’s stock valued at $15,263,000 after buying an additional 13,323 shares in the last quarter. 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.