CrowdStrike (NASDAQ:CRWD) Shares Down 2% Following Insider Selling

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) fell 2% during trading on Wednesday after an insider sold shares in the company. The company traded as low as $372.11 and last traded at $377.15. 710,299 shares traded hands during trading, a decline of 85% from the average session volume of 4,759,874 shares. The stock had previously closed at $384.95.

Specifically, insider Shawn Henry sold 2,547 shares of CrowdStrike stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $365.96, for a total transaction of $932,100.12. Following the completion of the transaction, the insider now directly owns 82,071 shares of the company’s stock, valued at $30,034,703.16. The trade was a 3.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shawn Henry sold 5,096 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of $358.43, for a total transaction of $1,826,559.28. Following the sale, the insider now directly owns 84,618 shares in the company, valued at $30,329,629.74. This trade represents a 5.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other CrowdStrike news, CFO Burt W. Podbere sold 13,529 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $358.10, for a total value of $4,844,734.90. Following the sale, the chief financial officer now directly owns 244,739 shares of the company’s stock, valued at approximately $87,641,035.90. This trade represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analysts Set New Price Targets

CRWD has been the subject of several recent analyst reports. UBS Group cut their price target on shares of CrowdStrike from $450.00 to $425.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Mizuho raised their price target on shares of CrowdStrike from $385.00 to $450.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Royal Bank of Canada reissued an “outperform” rating on shares of CrowdStrike in a report on Wednesday, March 5th. Morgan Stanley set a $429.00 price target on CrowdStrike in a research report on Tuesday, March 18th. Finally, Raymond James lowered CrowdStrike from an “outperform” rating to a “cautious” rating in a report on Monday, March 10th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $400.26.

CrowdStrike Stock Performance

The company has a debt-to-equity ratio of 0.24, a current ratio of 1.86 and a quick ratio of 1.86. The company has a market capitalization of $90.86 billion, a PE ratio of 718.76, a P/E/G ratio of 17.86 and a beta of 1.19. The stock has a 50-day simple moving average of $388.15 and a 200 day simple moving average of $347.35.

Institutional Investors Weigh In On CrowdStrike

A number of large investors have recently added to or reduced their stakes in CRWD. Empirical Asset Management LLC purchased a new position in CrowdStrike during the fourth quarter worth $11,310,000. Arcadia Investment Management Corp MI raised its position in shares of 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 during the last quarter. Greenleaf Trust raised its holdings in CrowdStrike by 53.4% in the 4th quarter. Greenleaf Trust now owns 2,967 shares of the company’s stock valued at $1,015,000 after acquiring an additional 1,033 shares during the last quarter. Trifecta Capital Advisors LLC lifted its stake in shares of CrowdStrike by 2,140.3% during the 4th quarter. Trifecta Capital Advisors LLC now owns 8,961 shares of the company’s stock worth $3,066,000 after purchasing an additional 8,561 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in shares of CrowdStrike by 42.6% during the fourth quarter. Fifth Third Bancorp now owns 44,609 shares of the company’s stock worth $15,263,000 after purchasing an additional 13,323 shares during the last quarter. 71.16% of the stock is 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.