CrowdStrike (NASDAQ:CRWD) Trading Down 2.6% – Here’s What Happened

Shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) were down 2.6% during trading on Friday . The company traded as low as $355.77 and last traded at $356.99. Approximately 824,009 shares were traded during trading, a decline of 83% from the average daily volume of 4,762,175 shares. The stock had previously closed at $366.56.

Analyst Upgrades and Downgrades

CRWD has been the subject of a number of research analyst reports. BMO Capital Markets increased their target price on shares of CrowdStrike from $380.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, March 5th. Piper Sandler set a $347.00 price objective on CrowdStrike in a research note on Wednesday, March 5th. Bank of America boosted their target price on CrowdStrike from $400.00 to $420.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. DA Davidson raised their price target on CrowdStrike from $395.00 to $415.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Finally, UBS Group lowered their price objective on shares of CrowdStrike from $450.00 to $425.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, CrowdStrike presently has an average rating of “Moderate Buy” and an average price target of $400.26.

CrowdStrike Stock Performance

The company has a debt-to-equity ratio of 0.24, a current ratio of 1.86 and a quick ratio of 1.86. The company has a fifty day moving average of $388.15 and a two-hundred day moving average of $347.35. The stock has a market capitalization of $88.46 billion, a P/E ratio of 699.69, a price-to-earnings-growth ratio of 17.86 and a beta of 1.19.

Insider Activity

In other news, CEO George Kurtz sold 22,449 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $358.68, for a total transaction of $8,052,007.32. Following the sale, the chief executive officer now directly owns 2,178,452 shares in the company, valued at approximately $781,367,163.36. This represents a 1.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Anurag Saha sold 1,496 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $358.62, for a total value of $536,495.52. Following the completion of the sale, the chief accounting officer now directly owns 36,165 shares in the company, valued at approximately $12,969,492.30. This trade represents a 3.97 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,801 shares of company stock worth $42,092,255. 4.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CrowdStrike

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of CrowdStrike by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 21,926,011 shares of the company’s stock worth $7,502,204,000 after acquiring an additional 342,294 shares during the period. State Street Corp grew its position in CrowdStrike by 2.9% in the 3rd quarter. State Street Corp now owns 9,630,776 shares of the company’s stock worth $2,701,144,000 after purchasing an additional 275,717 shares during the last quarter. Jennison Associates LLC increased its stake in shares of CrowdStrike by 6.9% in the fourth quarter. Jennison Associates LLC now owns 5,420,980 shares of the company’s stock valued at $1,854,843,000 after purchasing an additional 352,180 shares during the period. Geode Capital Management LLC raised its holdings in shares of CrowdStrike by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 5,018,441 shares of the company’s stock valued at $1,712,063,000 after buying an additional 124,984 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of CrowdStrike during the fourth quarter valued at approximately $1,111,542,000. 71.16% of the stock is currently owned by institutional investors.

CrowdStrike Company Profile

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.