CrowdStrike (NASDAQ:CRWD) Shares Down 4.1% – Here’s Why

CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s share price was down 4.1% during trading on Friday . The stock traded as low as $330.07 and last traded at $333.38. Approximately 1,966,062 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 3,775,986 shares. The stock had previously closed at $347.73.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Canaccord Genuity Group raised their price target on CrowdStrike from $370.00 to $420.00 and gave the stock a “buy” rating in a research note on Monday. Bank of America increased their price target on shares of CrowdStrike from $400.00 to $420.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Truist Financial boosted their price objective on shares of CrowdStrike from $385.00 to $460.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Royal Bank of Canada increased their target price on CrowdStrike from $365.00 to $420.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Finally, Jefferies Financial Group dropped their price target on CrowdStrike from $450.00 to $425.00 and set a “buy” rating for the company in a research note on Wednesday. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $400.10.

CrowdStrike Stock Down 4.5 %

The business’s 50-day moving average price is $387.50 and its 200-day moving average price is $338.08. The firm has a market capitalization of $81.82 billion, a PE ratio of 650.95, a price-to-earnings-growth ratio of 17.86 and a beta of 1.19. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.24.

Insider Activity

In related news, CFO Burt W. Podbere sold 11,217 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $358.14, for a total transaction of $4,017,256.38. Following the transaction, the chief financial officer now directly owns 290,711 shares in the company, valued at $104,115,237.54. The trade was a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Shawn Henry sold 4,000 shares of the company’s stock in a transaction 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 transaction, the insider now owns 94,214 shares of the company’s stock, valued at $42,459,423.38. The trade was a 4.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 100,315 shares of company stock worth $38,387,254 in the last ninety days. Corporate insiders own 4.34% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of CRWD. Empirical Asset Management LLC acquired a new position in CrowdStrike in the fourth quarter worth $11,310,000. Sumitomo Mitsui Trust Group Inc. lifted its position in CrowdStrike by 10.2% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 846,189 shares of the company’s stock worth $237,331,000 after buying an additional 78,305 shares in the last quarter. Hemenway Trust Co LLC grew its holdings in CrowdStrike by 356.8% during the 3rd quarter. Hemenway Trust Co LLC now owns 6,852 shares of the company’s stock worth $1,922,000 after acquiring an additional 5,352 shares during the last quarter. Arcadia Investment Management Corp MI grew its stake in shares of CrowdStrike by 30.8% during the fourth quarter. Arcadia Investment Management Corp MI now owns 11,954 shares of the company’s stock valued at $4,090,000 after purchasing an additional 2,814 shares during the last quarter. Finally, Greenleaf Trust increased its stake in shares of 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 buying an additional 1,033 shares during the period. Institutional investors own 71.16% of the company’s stock.

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.