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

Shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) traded down 1.6% during trading on Tuesday . The stock traded as low as $354.13 and last traded at $360.34. 880,901 shares were traded 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.

Analysts Set New Price Targets

Several brokerages have recently commented on CRWD. Morgan Stanley increased their price target on shares of CrowdStrike from $325.00 to $355.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. KeyCorp increased their target price on shares of CrowdStrike from $345.00 to $395.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Wedbush set a $330.00 price target on CrowdStrike in a research report on Thursday, October 17th. HSBC lowered CrowdStrike from a “buy” rating to a “hold” rating and set a $347.00 price objective on the stock. in a report on Wednesday, November 27th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $330.00 target price on shares of CrowdStrike in a report on Monday, September 30th. One analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $365.88.

CrowdStrike Stock Performance

The stock has a 50-day moving average of $350.02 and a 200 day moving average of $313.90. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.86 and a current ratio of 1.86. The firm has a market capitalization of $88.36 billion, a P/E ratio of 703.39, a price-to-earnings-growth ratio of 19.48 and a beta of 1.14.

Insider Activity

In other CrowdStrike news, Director Sameer K. Gandhi sold 6,250 shares of the company’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $320.38, for a total transaction of $2,002,375.00. Following the transaction, the director now owns 821,766 shares of the company’s stock, valued at approximately $263,277,391.08. This represents a 0.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gerhard Watzinger sold 30,000 shares of CrowdStrike stock in a transaction on Friday, November 29th. The shares were sold at an average price of $348.93, for a total value of $10,467,900.00. Following the completion of the sale, the director now directly owns 42,391 shares of the company’s stock, valued at $14,791,491.63. This trade represents a 41.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 116,601 shares of company stock worth $40,755,368. 4.34% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CrowdStrike

A number of institutional investors have recently made changes to their positions in CRWD. Abich Financial Wealth Management LLC acquired a new position in shares of CrowdStrike in the 2nd quarter valued at $25,000. Oakworth Capital Inc. bought a new stake in shares of CrowdStrike in the third quarter worth about $28,000. Tsfg LLC raised its position in shares of CrowdStrike by 593.3% during the third quarter. Tsfg LLC now owns 104 shares of the company’s stock worth $29,000 after purchasing an additional 89 shares during the period. Castleview Partners LLC bought a new position in shares of CrowdStrike during the 3rd quarter valued at about $32,000. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of CrowdStrike in the 2nd quarter valued at approximately $33,000. 71.16% of the stock is owned by institutional investors and hedge funds.

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.