CrowdStrike (NASDAQ:CRWD) Trading Down 2.8% After Insider Selling

CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s stock price was down 2.8% on Thursday following insider selling activity. The company traded as low as $277.88 and last traded at $278.46. Approximately 1,895,410 shares were traded during trading, a decline of 64% from the average daily volume of 5,335,679 shares. The stock had previously closed at $286.47.

Specifically, CFO Burt W. Podbere sold 11,178 shares of CrowdStrike stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $297.47, for a total value of $3,325,119.66. Following the transaction, the chief financial officer now owns 286,472 shares in the company, valued at approximately $85,216,825.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Shawn Henry sold 5,500 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $297.60, for a total transaction of $1,636,800.00. Following the completion of the transaction, the insider now owns 169,091 shares in the company, valued at approximately $50,321,481.60. The disclosure for this sale can be found here. In other CrowdStrike news, President Michael Sentonas sold 10,776 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $297.28, for a total value of $3,203,489.28. Following the transaction, the president now owns 400,390 shares in the company, valued at $119,027,939.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Analyst Ratings Changes

A number of research firms have issued reports on CRWD. Stifel Nicolaus decreased their price objective on shares of CrowdStrike from $400.00 to $300.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Susquehanna reiterated a “positive” rating and set a $310.00 price target on shares of CrowdStrike in a research report on Thursday, September 19th. TD Cowen reduced their price target on shares of CrowdStrike from $400.00 to $380.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Raymond James reduced their price target on shares of CrowdStrike from $380.00 to $275.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. Finally, Evercore ISI reduced their price target on shares of CrowdStrike from $350.00 to $325.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, CrowdStrike currently has a consensus rating of “Moderate Buy” and an average target price of $326.50.

CrowdStrike Price Performance

The firm’s fifty day moving average price is $260.01 and its 200 day moving average price is $311.39. The firm has a market capitalization of $69.57 billion, a PE ratio of 539.36, a P/E/G ratio of 19.60 and a beta of 1.09. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.26.

CrowdStrike (NASDAQ:CRWD) last released its quarterly earnings data on Wednesday, August 28th. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.97 by $0.07. The business had revenue of $963.87 million for the quarter, compared to the consensus estimate of $958.27 million. CrowdStrike had a net margin of 4.84% and a return on equity of 8.44%. The business’s revenue for the quarter was up 31.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.06 EPS. As a group, equities analysts forecast that CrowdStrike Holdings, Inc. will post 0.53 earnings per share for the current year.

Hedge Funds Weigh In On CrowdStrike

A number of large investors have recently added to or reduced their stakes in CRWD. Abich Financial Wealth Management LLC acquired a new stake in shares of CrowdStrike in the second quarter valued at about $25,000. Trivant Custom Portfolio Group LLC acquired a new position in shares of CrowdStrike in the 1st quarter valued at $30,000. Family Firm Inc. acquired a new position in shares of CrowdStrike in the 2nd quarter valued at $30,000. Northwest Bank & Trust Co acquired a new position in shares of CrowdStrike in the 4th quarter valued at $32,000. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of CrowdStrike in the 1st quarter valued at $32,000. 71.16% of the stock is currently owned by institutional investors and hedge funds.

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.