CrowdStrike (NASDAQ:CRWD) Stock Price Down 2%

CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s stock price dropped 2% on Wednesday . The company traded as low as $242.25 and last traded at $242.77. Approximately 764,836 shares changed hands during trading, a decline of 86% from the average daily volume of 5,358,503 shares. The stock had previously closed at $247.74.

Wall Street Analysts Forecast Growth

CRWD has been the topic of a number of research analyst reports. Robert W. Baird decreased their price objective 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. Citigroup dropped their price objective on CrowdStrike from $345.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, August 14th. Morgan Stanley reaffirmed an “overweight” rating and set a $325.00 price target on shares of CrowdStrike in a research note on Monday. Raymond James cut their price objective on shares of CrowdStrike from $380.00 to $275.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Finally, Canaccord Genuity Group lowered their price objective on CrowdStrike from $340.00 to $330.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. One 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $327.16.

CrowdStrike Price Performance

The stock’s fifty day moving average price is $278.75 and its 200-day moving average price is $314.21. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market cap of $63.02 billion, a price-to-earnings ratio of 485.10, a price-to-earnings-growth ratio of 16.14 and a beta of 1.09.

CrowdStrike (NASDAQ:CRWD) last released its 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. The company had revenue of $963.87 million during the quarter, compared to analyst estimates of $958.27 million. CrowdStrike had a return on equity of 8.44% and a net margin of 4.84%. The company’s revenue for the quarter was up 31.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.06 earnings per share. Equities research analysts predict that CrowdStrike Holdings, Inc. will post 0.56 EPS for the current fiscal year.

Insider Buying and Selling

In other CrowdStrike news, CAO Anurag Saha sold 1,662 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $380.63, for a total value of $632,607.06. Following the completion of the sale, the chief accounting officer now owns 40,645 shares of the company’s stock, valued at $15,470,706.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Anurag Saha sold 1,662 shares of CrowdStrike stock in a transaction on Friday, June 21st. The shares were sold at an average price of $380.63, for a total value of $632,607.06. Following the transaction, the chief accounting officer now owns 40,645 shares in the company, valued at approximately $15,470,706.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shawn Henry sold 4,000 shares of CrowdStrike stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $260.00, for a total value of $1,040,000.00. Following the completion of the transaction, the insider now directly owns 179,091 shares in the company, valued at $46,563,660. The disclosure for this sale can be found here. Over the last three months, insiders sold 130,219 shares of company stock worth $48,856,294. Corporate insiders own 4.34% of the company’s stock.

Institutional Trading of CrowdStrike

Several hedge funds have recently modified their holdings of CRWD. Abich Financial Wealth Management LLC acquired a new position in shares of CrowdStrike during the 2nd quarter worth about $25,000. Trivant Custom Portfolio Group LLC acquired a new position in shares of CrowdStrike during the 1st quarter worth about $30,000. Family Firm Inc. bought a new position in shares of CrowdStrike in the 2nd quarter valued at about $30,000. Johnson Financial Group Inc. acquired a new position in CrowdStrike during the fourth quarter valued at approximately $31,000. Finally, Northwest Bank & Trust Co acquired a new stake in shares of CrowdStrike in the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds 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.