CrowdStrike (NASDAQ:CRWD) Shares Down 1.1% Following Insider Selling

Shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) were down 1.1% during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $265.00 and last traded at $265.77. Approximately 662,329 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 5,287,276 shares. The stock had previously closed at $268.72.

Specifically, insider Shawn Henry sold 4,500 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $260.73, for a total transaction of $1,173,285.00. Following the completion of the sale, the insider now owns 174,591 shares in the company, valued at approximately $45,521,111.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CRWD shares. Jefferies Financial Group dropped their target price on shares of CrowdStrike from $400.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Raymond James lowered their price objective on shares of CrowdStrike from $380.00 to $275.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Wells Fargo & Company lowered their price objective on shares of CrowdStrike from $435.00 to $350.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. The Goldman Sachs Group lowered their price objective on shares of CrowdStrike from $400.00 to $295.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Finally, Truist Financial restated a “buy” rating and issued a $325.00 price objective on shares of CrowdStrike in a research report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-three have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, CrowdStrike currently has a consensus rating of “Moderate Buy” and a consensus price target of $327.16.

CrowdStrike Stock Performance

The firm has a market cap of $64.68 billion, a P/E ratio of 501.45, a P/E/G ratio of 16.14 and a beta of 1.09. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.90 and a current ratio of 1.90. The company’s 50 day moving average is $271.34 and its 200 day moving average is $312.95.

CrowdStrike (NASDAQ:CRWD) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.97 by $0.07. The business had revenue of $963.87 million during the quarter, compared to the consensus estimate of $958.27 million. CrowdStrike had a net margin of 4.84% and a return on equity of 8.44%. The firm’s revenue was up 31.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.06 EPS. As a group, equities analysts predict that CrowdStrike Holdings, Inc. will post 0.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CrowdStrike

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA raised its stake in shares of CrowdStrike by 1.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,759 shares of the company’s stock valued at $960,000 after acquiring an additional 60 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of CrowdStrike by 110.0% during the fourth quarter. Quadrant Capital Group LLC now owns 378 shares of the company’s stock valued at $97,000 after acquiring an additional 198 shares during the last quarter. TrinityPoint Wealth LLC bought a new position in shares of CrowdStrike during the fourth quarter valued at $277,000. Dynamic Technology Lab Private Ltd bought a new position in shares of CrowdStrike during the fourth quarter valued at $583,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of CrowdStrike by 16.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 40,603 shares of the company’s stock valued at $10,367,000 after acquiring an additional 5,884 shares during the last quarter. 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.