CrowdStrike (NASDAQ:CRWD) Shares Down 0.5% After Insider Selling

Shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) dropped 0.5% during trading on Wednesday after an insider sold shares in the company. The company traded as low as $383.39 and last traded at $384.84. Approximately 946,818 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 4,146,440 shares. The stock had previously closed at $386.76.

Specifically, CAO Anurag Saha sold 1,662 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $380.63, for a total transaction of $632,607.06. Following the transaction, the chief accounting officer now directly owns 40,645 shares of the company’s stock, valued at $15,470,706.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Anurag Saha sold 1,662 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $380.63, for a total transaction of $632,607.06. Following the completion of the sale, the chief accounting officer now owns 40,645 shares of the company’s stock, valued at $15,470,706.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Burt W. Podbere sold 64,000 shares of CrowdStrike stock in a transaction on Monday, April 1st. The stock was sold at an average price of $316.48, for a total transaction of $20,254,720.00. Following the completion of the transaction, the chief financial officer now directly owns 306,508 shares in the company, valued at $97,003,651.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 273,675 shares of company stock worth $92,085,172. 4.34% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $425.00 price target on shares of CrowdStrike in a research note on Wednesday, June 5th. Scotiabank cut their target price on shares of CrowdStrike from $400.00 to $393.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, June 5th. JPMorgan Chase & Co. increased their price target on shares of CrowdStrike from $371.00 to $400.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 29th. TD Cowen lifted their price objective on CrowdStrike from $340.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 target price on shares of CrowdStrike in a research report on Friday, June 21st. One investment analyst has rated the stock with a hold rating, thirty-seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $380.62.

CrowdStrike Trading Up 1.8 %

The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $94.25 billion, a PE ratio of 730.75, a P/E/G ratio of 19.36 and a beta of 1.08. The stock has a 50 day moving average price of $337.67 and a 200-day moving average price of $312.01.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CRWD. Morgan Stanley boosted 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 worth $832,516,000 after buying an additional 2,757,251 shares during the last quarter. Norges Bank bought a new position in CrowdStrike in the 4th quarter worth $683,336,000. Pathstone Holdings LLC purchased a new position in CrowdStrike during the fourth quarter valued at $450,418,000. Jennison Associates LLC grew its holdings in CrowdStrike by 33.2% during 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 during the period. Finally, Vanguard Group Inc. raised its stake 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 worth $4,020,299,000 after buying an additional 1,028,405 shares during the period. 71.16% of the stock is 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.