CrowdStrike (NASDAQ:CRWD) Trading Down 1.6% – Here’s Why

CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s stock price fell 1.6% during trading on Tuesday . The stock traded as low as $354.13 and last traded at $360.34. 880,901 shares traded 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.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. HSBC lowered CrowdStrike from a “buy” rating to a “hold” rating and set a $347.00 price objective for the company. in a research note on Wednesday, November 27th. Stifel Nicolaus lifted their price target on shares of CrowdStrike from $375.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. BNP Paribas began coverage on shares of CrowdStrike in a report on Tuesday, October 8th. They issued a “neutral” rating and a $285.00 price target on the stock. Truist Financial raised their price objective on shares of CrowdStrike from $375.00 to $385.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, BMO Capital Markets upped their target price on shares of CrowdStrike from $315.00 to $380.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. One 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 stock. Based on data from MarketBeat, CrowdStrike presently has an average rating of “Moderate Buy” and an average price target of $365.88.

CrowdStrike Price Performance

The company has a fifty day simple moving average of $350.02 and a 200-day simple moving average of $313.90. The company has a market cap of $88.36 billion, a P/E ratio of 703.39, a PEG 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.

Insider Buying and Selling

In other news, insider Shawn Henry sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $309.38, for a total transaction of $1,237,520.00. Following the sale, the insider now owns 124,298 shares in the company, valued at $38,455,315.24. The trade was a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sameer K. Gandhi sold 5,036 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $320.48, for a total transaction of $1,613,937.28. Following the completion of the sale, the director now owns 816,730 shares of the company’s stock, valued at approximately $261,745,630.40. This trade represents a 0.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 116,601 shares of company stock worth $40,755,368 in the last three months. 4.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp boosted its stake in shares of CrowdStrike by 2.9% during the 3rd 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 during the period. Jennison Associates LLC grew its stake in CrowdStrike by 25.0% in the third quarter. Jennison Associates LLC now owns 5,068,800 shares of the company’s stock valued at $1,421,646,000 after purchasing an additional 1,013,161 shares in the last quarter. Geode Capital Management LLC increased its position in CrowdStrike by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,893,457 shares of the company’s stock worth $1,367,505,000 after purchasing an additional 97,990 shares during the last quarter. Legal & General Group Plc increased its position in CrowdStrike by 3.0% in the 2nd quarter. Legal & General Group Plc now owns 2,049,704 shares of the company’s stock worth $785,425,000 after purchasing an additional 60,607 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of CrowdStrike by 4.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,817,387 shares of the company’s stock worth $696,471,000 after purchasing an additional 77,100 shares in the last quarter. Hedge funds and other institutional investors 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.