CrowdStrike (NASDAQ:CRWD) Stock Price Down 8.4% – Here’s Why

Shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) dropped 8.4% on Monday . The company traded as low as $305.10 and last traded at $305.54. Approximately 2,082,887 shares changed hands during trading, a decline of 46% from the average daily volume of 3,849,709 shares. The stock had previously closed at $333.50.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CRWD. Evercore ISI boosted their price target on shares of CrowdStrike from $400.00 to $450.00 and gave the company an “outperform” rating in a report on Wednesday, March 5th. Citigroup reaffirmed a “buy” rating on shares of CrowdStrike in a report on Wednesday, February 5th. Mizuho boosted their target price on shares of CrowdStrike from $385.00 to $450.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Raymond James lowered CrowdStrike from an “outperform” rating to a “cautious” rating in a research note on Monday. Finally, Westpark Capital restated a “hold” rating on shares of CrowdStrike in a report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $398.78.

CrowdStrike Trading Down 7.4 %

The business has a fifty day moving average price of $387.07 and a 200-day moving average price of $339.51. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.24. The company has a market cap of $76.08 billion, a P/E ratio of 605.62, a PEG ratio of 17.86 and a beta of 1.19.

Insider Activity at CrowdStrike

In other CrowdStrike news, CEO George Kurtz sold 18,071 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $359.70, for a total transaction of $6,500,138.70. Following the transaction, the chief executive officer now owns 2,159,935 shares in the company, valued at $776,928,619.50. This trade represents a 0.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shawn Henry sold 4,500 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $368.14, for a total value of $1,656,630.00. Following the sale, the insider now directly owns 115,798 shares in the company, valued at approximately $42,629,875.72. This trade represents a 3.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 100,315 shares of company stock worth $38,387,254 in the last ninety days. 4.34% of the stock is owned by company insiders.

Hedge Funds Weigh In On CrowdStrike

Several hedge funds have recently bought and sold shares of CRWD. FSA Wealth Management LLC boosted its position in shares of CrowdStrike by 11.2% during the 4th quarter. FSA Wealth Management LLC now owns 228 shares of the company’s stock worth $78,000 after acquiring an additional 23 shares in the last quarter. Jacobi Capital Management LLC boosted its holdings in shares of CrowdStrike by 1.9% in the 4th quarter. Jacobi Capital Management LLC now owns 1,309 shares of the company’s stock valued at $448,000 after purchasing an additional 25 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its stake in shares of CrowdStrike by 1.4% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 1,974 shares of the company’s stock valued at $675,000 after purchasing an additional 27 shares during the last quarter. Wintrust Investments LLC raised its holdings in shares of CrowdStrike by 4.2% during the 4th quarter. Wintrust Investments LLC now owns 719 shares of the company’s stock worth $246,000 after buying an additional 29 shares in the last quarter. Finally, Synergy Financial Group LTD lifted its position in shares of CrowdStrike by 0.8% during the 3rd quarter. Synergy Financial Group LTD now owns 3,950 shares of the company’s stock worth $1,108,000 after buying an additional 30 shares during the last quarter. 71.16% of the stock is owned by institutional investors.

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.