CrowdStrike (NASDAQ:CRWD) Stock Price Down 2.4% Following Insider Selling

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) dropped 2.4% during trading on Friday following insider selling activity. The company traded as low as $334.79 and last traded at $336.14. Approximately 891,691 shares changed hands during trading, a decline of 82% from the average daily volume of 5,012,243 shares. The stock had previously closed at $344.36.

Specifically, insider Shawn Henry sold 4,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $340.44, for a total transaction of $1,361,760.00. Following the transaction, the insider now owns 120,298 shares of the company’s stock, valued at approximately $40,954,251.12. This trade represents a 3.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Robert W. Baird cut their price target on shares of CrowdStrike from $335.00 to $315.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. Royal Bank of Canada cut their price target on shares of CrowdStrike from $345.00 to $335.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. DA Davidson reaffirmed a “buy” rating and set a $310.00 target price on shares of CrowdStrike in a report on Wednesday, September 18th. Hsbc Global Res upgraded shares of CrowdStrike from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 30th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on CrowdStrike from $350.00 to $275.00 and set a “hold” rating for the company in a report on Monday, August 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $328.74.

CrowdStrike Stock Performance

The stock has a 50 day simple moving average of $297.79 and a two-hundred day simple moving average of $310.13. The company has a market capitalization of $82.55 billion, a price-to-earnings ratio of 488.04, a PEG ratio of 23.52 and a beta of 1.10. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.90 and a quick ratio of 1.90.

CrowdStrike (NASDAQ:CRWD) last announced its quarterly earnings results on Wednesday, August 28th. The company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. CrowdStrike had a return on equity of 8.44% and a net margin of 4.84%. The firm had revenue of $963.87 million during the quarter, compared to the consensus estimate of $958.27 million. During the same period in the prior year, the company posted $0.06 earnings per share. The firm’s quarterly revenue was up 31.7% compared to the same quarter last year. As a group, analysts anticipate that CrowdStrike Holdings, Inc. will post 0.52 earnings per share for the current year.

Institutional Investors Weigh In On CrowdStrike

Hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp increased its position in shares of CrowdStrike by 2.9% during the third quarter. State Street Corp now owns 9,630,776 shares of the company’s stock worth $2,701,144,000 after purchasing an additional 275,717 shares in the last quarter. Jennison Associates LLC increased its position in CrowdStrike by 25.0% during the third quarter. Jennison Associates LLC now owns 5,068,800 shares of the company’s stock worth $1,421,646,000 after buying an additional 1,013,161 shares during the period. Geode Capital Management LLC lifted its stake in CrowdStrike by 2.0% in the third quarter. Geode Capital Management LLC now owns 4,893,457 shares of the company’s stock valued at $1,367,505,000 after buying an additional 97,990 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of CrowdStrike by 3.0% in the second quarter. Legal & General Group Plc now owns 2,049,704 shares of the company’s stock valued at $785,425,000 after acquiring an additional 60,607 shares during the period. Finally, Ameriprise Financial Inc. grew its position in shares of CrowdStrike by 4.4% during the second quarter. Ameriprise Financial Inc. now owns 1,817,387 shares of the company’s stock worth $696,471,000 after acquiring an additional 77,100 shares during the last quarter. 71.16% of the stock is currently owned by institutional investors and hedge funds.

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.