CrowdStrike (NASDAQ:CRWD) Shares Down 5.8% on Insider Selling

CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s stock price dropped 5.8% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $418.31 and last traded at $423.98. 1,985,329 shares were traded during trading, a decline of 35% from the average daily volume of 3,061,109 shares. The stock had previously closed at $450.14.

Specifically, insider Shawn Henry sold 4,000 shares of the stock in a transaction that occurred 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 directly owns 94,214 shares of the company’s stock, valued at $42,459,423.38. This trade represents a 4.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Anurag Saha sold 540 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $384.26, for a total transaction of $207,500.40. Following the transaction, the chief accounting officer now owns 37,661 shares in the company, valued at $14,471,615.86. The trade was a 1.41 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. CICC Research initiated coverage on CrowdStrike in a research note on Monday, November 18th. They set a “market perform” rating and a $295.00 price target on the stock. JPMorgan Chase & Co. upped their price target on CrowdStrike from $372.00 to $418.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Westpark Capital reiterated a “hold” rating on shares of CrowdStrike in a research report on Monday, November 25th. Hsbc Global Res downgraded CrowdStrike from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 27th. Finally, The Goldman Sachs Group upped their price objective on shares of CrowdStrike from $372.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, December 24th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-nine have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, CrowdStrike presently has a consensus rating of “Moderate Buy” and an average target price of $379.73.

CrowdStrike Trading Down 5.4 %

The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.86 and a current ratio of 1.86. The business has a 50-day moving average of $382.58 and a 200-day moving average of $327.63. The stock has a market capitalization of $104.93 billion, a price-to-earnings ratio of 831.41, a PEG ratio of 18.65 and a beta of 1.16.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Empirical Asset Management LLC acquired a new position in CrowdStrike during the fourth quarter worth about $11,310,000. Beacon Financial Advisory LLC acquired a new stake in CrowdStrike in the 3rd quarter valued at about $955,000. Sumitomo Mitsui Trust Group Inc. raised its position in CrowdStrike by 10.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 846,189 shares of the company’s stock worth $237,331,000 after acquiring an additional 78,305 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of CrowdStrike by 0.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 439,865 shares of the company’s stock valued at $124,644,000 after purchasing an additional 2,863 shares during the last quarter. Finally, Hemenway Trust Co LLC lifted its stake in CrowdStrike by 356.8% in the 3rd quarter. Hemenway Trust Co LLC now owns 6,852 shares of the company’s stock valued at $1,922,000 after buying an additional 5,352 shares in the last quarter. 71.16% of the stock is currently owned by institutional investors and hedge funds.

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.