CrowdStrike (NASDAQ:CRWD) Stock Price Down 1.6% – Here’s What Happened

Shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) fell 1.6% on Wednesday . The stock traded as low as $344.47 and last traded at $347.48. 715,335 shares traded hands during trading, a decline of 86% from the average session volume of 4,984,991 shares. The stock had previously closed at $353.29.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CRWD shares. Royal Bank of Canada dropped their price target on shares of CrowdStrike from $345.00 to $335.00 and set an “outperform” rating on the stock in a research note on Thursday, August 29th. BMO Capital Markets boosted their target price on shares of CrowdStrike from $290.00 to $315.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Scotiabank decreased their price target on shares of CrowdStrike from $300.00 to $265.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 14th. Argus cut their price objective on CrowdStrike from $400.00 to $325.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Finally, KeyCorp raised their target price on CrowdStrike from $300.00 to $345.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-one have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $333.82.

CrowdStrike Price Performance

The company’s 50-day simple moving average is $301.83 and its 200 day simple moving average is $310.94. The company has a market cap of $85.01 billion, a PE ratio of 502.17, a PEG ratio of 22.77 and a beta of 1.10. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.90 and a current ratio of 1.90.

CrowdStrike (NASDAQ:CRWD) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. CrowdStrike had a return on equity of 8.44% and a net margin of 4.84%. The company had revenue of $963.87 million for the quarter, compared to analyst estimates of $958.27 million. During the same quarter last year, the company earned $0.06 EPS. CrowdStrike’s revenue for the quarter was up 31.7% compared to the same quarter last year. On average, sell-side analysts predict that CrowdStrike Holdings, Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Buying and Selling at CrowdStrike

In other news, CAO Anurag Saha sold 1,683 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $297.28, for a total value of $500,322.24. Following the completion of the transaction, the chief accounting officer now owns 38,962 shares in the company, valued at approximately $11,582,623.36. This represents a 4.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Shawn Henry sold 4,000 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $340.44, for a total transaction of $1,361,760.00. Following the completion of the transaction, the insider now owns 120,298 shares of the company’s stock, valued at $40,954,251.12. This represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 108,248 shares of company stock valued at $32,465,110. Insiders own 4.34% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Beacon Financial Advisory LLC acquired a new position in shares of CrowdStrike in the 3rd quarter valued at $955,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of CrowdStrike by 10.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 846,189 shares of the company’s stock valued at $237,331,000 after buying an additional 78,305 shares during the last quarter. Burney Co. acquired a new stake in shares of CrowdStrike during the first quarter worth about $1,342,000. Doliver Advisors LP grew its holdings in shares of CrowdStrike by 223.2% during the third quarter. Doliver Advisors LP now owns 6,754 shares of the company’s stock worth $1,894,000 after buying an additional 4,664 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its position in CrowdStrike by 0.7% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 439,865 shares of the company’s stock valued at $124,644,000 after acquiring an additional 2,863 shares during the period. Institutional investors and hedge funds own 71.16% of the company’s stock.

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.