CrowdStrike (NASDAQ:CRWD) Trading Down 2.8% – Here’s Why

CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s stock price dropped 2.8% during mid-day trading on Friday . The company traded as low as $417.06 and last traded at $424.05. Approximately 1,741,801 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 3,106,152 shares. The stock had previously closed at $436.14.

Wall Street Analysts Forecast Growth

CRWD has been the topic of several recent analyst reports. Morgan Stanley boosted their target price on CrowdStrike from $390.00 to $429.00 and gave the stock an “overweight” rating in a report on Wednesday. Robert W. Baird reissued a “neutral” rating and issued a $430.00 price objective (up previously from $390.00) on shares of CrowdStrike in a research note on Monday, February 3rd. Piper Sandler raised their target price on CrowdStrike from $290.00 to $375.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Scotiabank reiterated a “sector perform” rating on shares of CrowdStrike in a research report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. raised their price objective on shares of CrowdStrike from $372.00 to $418.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $383.08.

CrowdStrike Trading Down 6.8 %

The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.24. The business has a 50 day moving average of $384.76 and a 200-day moving average of $330.35. The firm has a market capitalization of $100.15 billion, a P/E ratio of 797.30, a PEG ratio of 17.86 and a beta of 1.16.

Insider Buying and Selling

In related news, CAO Anurag Saha sold 1,863 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $358.46, for a total transaction of $667,810.98. Following the completion of the transaction, the chief accounting officer now directly owns 41,059 shares in the company, valued at approximately $14,718,009.14. This trade represents a 4.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shawn Henry sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $450.67, for a total value of $1,802,680.00. Following the completion of the sale, the insider now owns 94,214 shares in the company, valued at $42,459,423.38. The trade was a 4.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 136,565 shares of company stock worth $51,038,529 over the last ninety days. Company insiders own 4.34% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Berbice Capital Management LLC acquired a new position in shares of CrowdStrike during the 4th quarter worth about $27,000. FPC Investment Advisory Inc. raised its holdings in CrowdStrike by 811.1% during the fourth quarter. FPC Investment Advisory Inc. now owns 82 shares of the company’s stock worth $28,000 after acquiring an additional 73 shares in the last quarter. Fortitude Family Office LLC raised its holdings in CrowdStrike by 112.8% during the fourth quarter. Fortitude Family Office LLC now owns 83 shares of the company’s stock worth $28,000 after acquiring an additional 44 shares in the last quarter. Crowley Wealth Management Inc. acquired a new position in CrowdStrike during the fourth quarter valued at approximately $34,000. Finally, Luken Investment Analytics LLC bought a new position in CrowdStrike in the fourth quarter valued at approximately $34,000. 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.