CrowdStrike (NASDAQ:CRWD) Trading Down 7.5% After Insider Selling

CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s stock price dropped 7.5% on Thursday after an insider sold shares in the company. The stock traded as low as $342.71 and last traded at $343.62. Approximately 1,252,047 shares were traded during trading, a decline of 74% from the average daily volume of 4,885,782 shares. The stock had previously closed at $371.49.

Specifically, Director Gerhard Watzinger sold 10,000 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $359.57, for a total value of $3,595,700.00. Following the sale, the director now directly owns 62,891 shares in the company, valued at $22,613,716.87. The trade was a 13.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Analysts Set New Price Targets

CRWD has been the topic of several research reports. Stifel Nicolaus lowered their price target on shares of CrowdStrike from $475.00 to $435.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. Mizuho raised their price target on CrowdStrike from $385.00 to $450.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Needham & Company LLC reissued a “buy” rating and issued a $420.00 price target on shares of CrowdStrike in a report on Wednesday, March 5th. Morgan Stanley set a $429.00 price objective on CrowdStrike in a research note on Tuesday, March 18th. Finally, Jefferies Financial Group cut their target price on shares of CrowdStrike from $425.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, CrowdStrike presently has an average rating of “Moderate Buy” and a consensus target price of $400.88.

CrowdStrike Stock Performance

The company has a market capitalization of $79.72 billion, a price-to-earnings ratio of 630.66, a P/E/G ratio of 17.86 and a beta of 1.28. The stock has a 50 day simple moving average of $386.18 and a 200 day simple moving average of $351.38. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.24.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Empirical Asset Management LLC acquired a new position in shares of CrowdStrike during the fourth quarter valued at $11,310,000. Arcadia Investment Management Corp MI grew its position in CrowdStrike by 30.8% in the 4th quarter. Arcadia Investment Management Corp MI now owns 11,954 shares of the company’s stock worth $4,090,000 after purchasing an additional 2,814 shares during the last quarter. Greenleaf Trust increased its stake in shares of CrowdStrike by 53.4% in the fourth quarter. Greenleaf Trust now owns 2,967 shares of the company’s stock valued at $1,015,000 after purchasing an additional 1,033 shares during the period. Trifecta Capital Advisors LLC raised its holdings in shares of CrowdStrike by 2,140.3% during the fourth quarter. Trifecta Capital Advisors LLC now owns 8,961 shares of the company’s stock valued at $3,066,000 after buying an additional 8,561 shares during the last quarter. Finally, Fifth Third Bancorp boosted its position in shares of CrowdStrike by 42.6% during the fourth quarter. Fifth Third Bancorp now owns 44,609 shares of the company’s stock worth $15,263,000 after buying an additional 13,323 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.