CrowdStrike (NASDAQ:CRWD) Shares Gap Down on Insider Selling

Shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) gapped down prior to trading on Tuesday after an insider sold shares in the company. The stock had previously closed at $392.15, but opened at $382.27. CrowdStrike shares last traded at $385.00, with a volume of 579,680 shares traded.

Specifically, insider Shawn Henry sold 4,000 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $308.79, for a total value of $1,235,160.00. Following the transaction, the insider now directly owns 208,961 shares in the company, valued at $64,525,067.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Shawn Henry sold 4,000 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $308.79, for a total value of $1,235,160.00. Following the transaction, the insider now directly owns 208,961 shares in the company, valued at $64,525,067.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO George Kurtz sold 56,279 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $304.41, for a total value of $17,131,890.39. Following the completion of the transaction, the chief executive officer now owns 1,146,048 shares in the company, valued at $348,868,471.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 219,675 shares of company stock valued at $76,681,402. Company insiders own 4.34% of the company’s stock.

Analysts Set New Price Targets

CRWD has been the topic of a number of research analyst reports. Scotiabank decreased their target price on CrowdStrike from $400.00 to $393.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, June 5th. Guggenheim reiterated a “buy” rating and issued a $424.00 target price on shares of CrowdStrike in a research report on Tuesday, June 25th. Citigroup boosted their target price on CrowdStrike from $320.00 to $425.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Jefferies Financial Group boosted their target price on CrowdStrike from $375.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, Evercore ISI upped their price objective on CrowdStrike from $255.00 to $405.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. Two investment analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, CrowdStrike has a consensus rating of “Moderate Buy” and an average target price of $382.35.

CrowdStrike Stock Performance

The business has a fifty day simple moving average of $345.31 and a two-hundred day simple moving average of $316.23. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.80 and a quick ratio of 1.80. The company has a market cap of $94.22 billion, a PE ratio of 730.54, a price-to-earnings-growth ratio of 19.31 and a beta of 1.10.

CrowdStrike (NASDAQ:CRWD) last posted its earnings results on Tuesday, June 4th. The company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). The company had revenue of $921.04 million for the quarter, compared to analysts’ expectations of $904.82 million. CrowdStrike had a return on equity of 7.39% and a net margin of 4.01%. Research analysts anticipate that CrowdStrike Holdings, Inc. will post 0.9 earnings per share for the current year.

Institutional Trading of CrowdStrike

Several hedge funds and other institutional investors have recently made changes to their positions in CRWD. Morgan Stanley lifted its holdings in shares of CrowdStrike by 124.4% during the 3rd 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 during the last quarter. Norges Bank purchased a new stake in shares of CrowdStrike during the 4th quarter valued at $683,336,000. Pathstone Holdings LLC purchased a new stake in shares of CrowdStrike during the 4th quarter valued at $450,418,000. Jennison Associates LLC lifted its holdings in shares of CrowdStrike by 33.2% during the 4th 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 last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of CrowdStrike by 7.0% during the 4th 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 during 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.