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

CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s share price fell 2.8% on Thursday following insider selling activity. The stock traded as low as $277.88 and last traded at $278.46. 1,895,410 shares were traded during trading, a decline of 64% from the average session 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 directly owns 286,472 shares of the company’s stock, valued at approximately $85,216,825.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shawn Henry sold 5,500 shares of CrowdStrike stock in a transaction on 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 directly owns 169,091 shares in the company, valued at $50,321,481.60. The disclosure for this sale can be found here. In related news, President Michael Sentonas sold 10,776 shares of CrowdStrike stock in a transaction on 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 directly owns 400,390 shares in the company, valued at approximately $119,027,939.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CRWD. Morgan Stanley reiterated an “overweight” rating and issued a $325.00 price objective on shares of CrowdStrike in a research report on Monday, September 9th. Evercore ISI lowered their price objective 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. Susquehanna reiterated a “positive” rating and issued a $310.00 price objective on shares of CrowdStrike in a research report on Thursday, September 19th. HSBC upgraded shares of CrowdStrike from a “hold” rating to a “buy” rating and lifted their price objective for the company from $302.00 to $339.00 in a research report on Friday, August 30th. Finally, Redburn Atlantic lowered shares of CrowdStrike from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $380.00 to $275.00 in a research report on Thursday, July 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-three have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, CrowdStrike currently has an average rating of “Moderate Buy” and a consensus target price of $326.50.

CrowdStrike Stock Performance

The stock’s 50 day moving average price is $260.01 and its 200 day moving average price is $311.39. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.26. The company has a market cap of $69.57 billion, a price-to-earnings ratio of 539.36, a P/E/G ratio of 19.60 and a beta of 1.09.

CrowdStrike (NASDAQ:CRWD) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. CrowdStrike had a net margin of 4.84% and a return on equity of 8.44%. The company had revenue of $963.87 million during the quarter, compared to the consensus estimate of $958.27 million. During the same quarter in the prior year, the company posted $0.06 EPS. The company’s quarterly revenue was up 31.7% compared to the same quarter last year. On average, analysts expect that CrowdStrike Holdings, Inc. will post 0.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC grew its holdings in shares of CrowdStrike by 12.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 10,525 shares of the company’s stock worth $2,687,000 after purchasing an additional 1,154 shares during the period. Focus Financial Network Inc. ADV purchased a new stake in shares of CrowdStrike during the 4th quarter worth about $815,000. Evoke Wealth LLC grew its holdings in shares of CrowdStrike by 4.3% during the 4th quarter. Evoke Wealth LLC now owns 1,283 shares of the company’s stock worth $328,000 after purchasing an additional 53 shares during the period. Dorsey & Whitney Trust CO LLC purchased a new stake in shares of CrowdStrike during the 4th quarter worth about $286,000. Finally, Brown Brothers Harriman & Co. grew its holdings in shares of CrowdStrike by 347.1% during the 4th quarter. Brown Brothers Harriman & Co. now owns 626 shares of the company’s stock worth $160,000 after purchasing an additional 486 shares during the period. Institutional investors and hedge funds 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.