CrowdStrike (NASDAQ:CRWD) Trading Down 1.6% – Should You Sell?

CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s stock price fell 1.6% on Tuesday . The company traded as low as $354.13 and last traded at $360.34. 880,901 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 2,231,845 shares. The stock had previously closed at $366.36.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CRWD shares. JPMorgan Chase & Co. raised their price objective on CrowdStrike from $372.00 to $418.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. BMO Capital Markets upped their target price on CrowdStrike from $315.00 to $380.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Barclays lifted their price target on shares of CrowdStrike from $295.00 to $372.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Cantor Fitzgerald raised their target price on shares of CrowdStrike from $350.00 to $370.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $330.00 price target on shares of CrowdStrike in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $365.88.

CrowdStrike Stock Performance

The firm has a market capitalization of $89.08 billion, a PE ratio of 709.13, a P/E/G ratio of 19.48 and a beta of 1.14. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.86 and a quick ratio of 1.86. The business has a 50-day simple moving average of $348.02 and a 200-day simple moving average of $313.73.

Insider Activity

In other news, CAO Anurag Saha sold 1,863 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $358.46, for a total value of $667,810.98. Following the completion of the transaction, the chief accounting officer now directly owns 41,059 shares of the company’s stock, valued at approximately $14,718,009.14. The trade was a 4.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Sameer K. Gandhi sold 6,250 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $320.38, for a total transaction of $2,002,375.00. Following the sale, the director now directly owns 821,766 shares of the company’s stock, valued at approximately $263,277,391.08. The trade was a 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 116,601 shares of company stock valued at $40,755,368. 4.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CrowdStrike

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jennison Associates LLC lifted its holdings in shares of CrowdStrike by 25.0% during the third quarter. Jennison Associates LLC now owns 5,068,800 shares of the company’s stock worth $1,421,646,000 after purchasing an additional 1,013,161 shares during the period. International Assets Investment Management LLC boosted its stake in shares of CrowdStrike by 17,926.3% in the third quarter. International Assets Investment Management LLC now owns 925,831 shares of the company’s stock worth $259,668,000 after buying an additional 920,695 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in CrowdStrike by 1,655.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 755,951 shares of the company’s stock worth $212,021,000 after purchasing an additional 712,900 shares in the last quarter. Assenagon Asset Management S.A. grew its position in CrowdStrike by 248.6% during the third quarter. Assenagon Asset Management S.A. now owns 521,198 shares of the company’s stock valued at $146,180,000 after buying an additional 371,695 shares during the period. Finally, State Street Corp increased its holdings in CrowdStrike by 2.9% in the third quarter. State Street Corp now owns 9,630,776 shares of the company’s stock valued at $2,701,144,000 after buying an additional 275,717 shares in the last quarter. 71.16% of the stock is owned by hedge funds and other institutional investors.

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.