CrowdStrike (NASDAQ:CRWD) Shares Down 4.6% – Here’s What Happened

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) shares fell 4.6% on Tuesday . The stock traded as low as $369.31 and last traded at $373.89. 1,543,649 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 3,233,541 shares. The stock had previously closed at $391.72.

Analyst Ratings Changes

Several research firms have issued reports on CRWD. Jefferies Financial Group lifted their price target on shares of CrowdStrike from $415.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Rosenblatt Securities upped their target price on CrowdStrike from $325.00 to $385.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Susquehanna increased their price target on shares of CrowdStrike from $310.00 to $400.00 and gave the stock a “positive” rating in a report on Wednesday, November 27th. Morgan Stanley upped their price objective on shares of CrowdStrike from $390.00 to $429.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Finally, CICC Research assumed coverage on shares of CrowdStrike in a report on Monday, November 18th. They set a “market perform” rating and a $295.00 target price for the company. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, CrowdStrike presently has an average rating of “Moderate Buy” and an average target price of $383.08.

CrowdStrike Stock Performance

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’s 50 day moving average is $384.83 and its 200-day moving average is $332.12. The company has a market cap of $93.42 billion, a PE ratio of 746.02, a PEG ratio of 17.86 and a beta of 1.16.

Insider Activity

In other CrowdStrike news, insider Shawn Henry sold 4,500 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $368.14, for a total value of $1,656,630.00. Following the completion of the sale, the insider now directly owns 115,798 shares in the company, valued at $42,629,875.72. This represents a 3.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sameer K. Gandhi sold 6,250 shares of CrowdStrike stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $349.34, for a total value of $2,183,375.00. Following the transaction, the director now owns 809,266 shares in the company, valued at approximately $282,708,984.44. This represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 136,565 shares of company stock worth $51,038,529 over the last ninety days. Corporate insiders own 4.34% of the company’s stock.

Hedge Funds Weigh In On CrowdStrike

Several institutional investors and hedge funds have recently bought and sold shares of CRWD. Vanguard Group Inc. lifted its holdings in CrowdStrike by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 21,926,011 shares of the company’s stock valued at $7,502,204,000 after acquiring an additional 342,294 shares during the last quarter. State Street Corp lifted its stake in shares of CrowdStrike by 2.9% in the 3rd quarter. State Street Corp now owns 9,630,776 shares of the company’s stock valued at $2,701,144,000 after purchasing an additional 275,717 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of CrowdStrike by 6.9% in the 4th 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 last quarter. Geode Capital Management LLC grew its holdings in shares of CrowdStrike by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 5,018,441 shares of the company’s stock worth $1,712,063,000 after purchasing an additional 124,984 shares during the period. Finally, Norges Bank acquired a new stake in shares of CrowdStrike during the 4th quarter worth about $1,111,542,000. 71.16% of the stock is currently 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.