CrowdStrike (NASDAQ:CRWD) Shares Down 2.9% After Insider Selling

CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s stock price traded down 2.9% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $317.56 and last traded at $320.45. 1,404,351 shares were traded during trading, a decline of 65% from the average session volume of 3,988,613 shares. The stock had previously closed at $330.01.

Specifically, CAO Anurag Saha sold 1,786 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $331.52, for a total value of $592,094.72. Following the transaction, the chief accounting officer now directly owns 34,350 shares of the company’s stock, valued at approximately $11,387,712. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other CrowdStrike news, CAO Anurag Saha sold 1,786 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $331.52, for a total transaction of $592,094.72. Following the transaction, the chief accounting officer now owns 34,350 shares in the company, valued at approximately $11,387,712. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO George Kurtz sold 60,000 shares of the stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $283.69, for a total transaction of $17,021,400.00. Following the transaction, the chief executive officer now owns 1,020,194 shares in the company, valued at approximately $289,418,835.86. The disclosure for this sale can be found here. Insiders have sold a total of 237,667 shares of company stock valued at $72,822,280 in the last three months. 5.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CRWD has been the subject of several research reports. Robert W. Baird increased their price objective on shares of CrowdStrike from $281.00 to $350.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 price target on shares of CrowdStrike in a research note on Thursday, March 14th. Wells Fargo & Company raised their price target on shares of CrowdStrike from $315.00 to $380.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. TD Cowen lifted their target price on shares of CrowdStrike from $340.00 to $400.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 6th. Finally, Sanford C. Bernstein initiated coverage on shares of CrowdStrike in a research note on Thursday, January 18th. They set an “outperform” rating and a $334.00 target price for the company. One research analyst has rated the stock with a hold rating and thirty-seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $373.29.

CrowdStrike Stock Performance

The company’s 50 day moving average is $315.08 and its 200-day moving average is $247.33. The company has a market capitalization of $77.54 billion, a P/E ratio of 890.55, a price-to-earnings-growth ratio of 13.08 and a beta of 1.06. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.32.

CrowdStrike (NASDAQ:CRWD) last announced its quarterly earnings results on Tuesday, March 5th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.06. The firm had revenue of $845.34 million for the quarter, compared to the consensus estimate of $839.08 million. CrowdStrike had a net margin of 2.92% and a return on equity of 6.09%. Equities analysts anticipate that CrowdStrike Holdings, Inc. will post 1.1 EPS for the current fiscal year.

Hedge Funds Weigh In On CrowdStrike

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its stake in CrowdStrike by 17.6% during the 2nd quarter. BlackRock Inc. now owns 16,070,200 shares of the company’s stock worth $2,360,230,000 after acquiring an additional 2,401,659 shares during the period. Vanguard Group Inc. grew its holdings in shares of CrowdStrike by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 15,746,120 shares of the company’s stock valued at $4,020,299,000 after purchasing an additional 1,028,405 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of CrowdStrike by 33.2% in the fourth quarter. Jennison Associates LLC now owns 6,340,819 shares of the company’s stock valued at $1,618,938,000 after purchasing an additional 1,581,796 shares in the last quarter. Morgan Stanley grew its holdings in shares of CrowdStrike by 124.4% in the third quarter. Morgan Stanley now owns 4,973,809 shares of the company’s stock valued at $832,516,000 after purchasing an additional 2,757,251 shares in the last quarter. Finally, State Street Corp boosted its stake in CrowdStrike by 1.6% during the second quarter. State Street Corp now owns 4,392,861 shares of the company’s stock worth $645,179,000 after buying an additional 70,484 shares during the period. 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.