CrowdStrike (NASDAQ:CRWD) Shares Down 8.4% – Time to Sell?

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) shares dropped 8.4% during mid-day trading on Monday . The company traded as low as $305.10 and last traded at $305.54. Approximately 2,082,887 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 3,849,709 shares. The stock had previously closed at $333.50.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CRWD. Truist Financial upped their price target on CrowdStrike from $385.00 to $460.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Royal Bank of Canada reiterated an “outperform” rating on shares of CrowdStrike in a report on Wednesday, March 5th. BMO Capital Markets raised their price target on shares of CrowdStrike from $380.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, March 5th. Guggenheim reiterated a “neutral” rating on shares of CrowdStrike in a research note on Wednesday, March 5th. Finally, Piper Sandler set a $347.00 target price on shares of CrowdStrike in a research note on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $398.78.

CrowdStrike Price Performance

The company has a fifty day moving average price of $386.01 and a two-hundred day moving average price of $340.21. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.24. The company has a market cap of $81.22 billion, a price-to-earnings ratio of 646.58, a price-to-earnings-growth ratio of 17.86 and a beta of 1.19.

Insiders Place Their Bets

In other news, insider Shawn Henry sold 4,500 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $368.14, for a total value of $1,656,630.00. Following the sale, the insider now owns 115,798 shares in the company, valued at approximately $42,629,875.72. The trade was a 3.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Michael Sentonas sold 10,801 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $358.47, for a total transaction of $3,871,834.47. Following the sale, the president now owns 389,589 shares of the company’s stock, valued at $139,655,968.83. This trade represents a 2.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 100,315 shares of company stock worth $38,387,254 over the last 90 days. Corporate insiders own 4.34% of the company’s stock.

Hedge Funds Weigh In On CrowdStrike

A number of institutional investors and hedge funds have recently bought and sold shares of CRWD. Berbice Capital Management LLC bought a new stake in shares of CrowdStrike during the fourth quarter valued at approximately $27,000. FPC Investment Advisory Inc. grew its holdings in CrowdStrike by 811.1% during the 4th quarter. FPC Investment Advisory Inc. now owns 82 shares of the company’s stock worth $28,000 after acquiring an additional 73 shares during the period. Fortitude Family Office LLC raised its position in shares of CrowdStrike by 112.8% during the 4th quarter. Fortitude Family Office LLC now owns 83 shares of the company’s stock valued at $28,000 after acquiring an additional 44 shares during the last quarter. Crowley Wealth Management Inc. acquired a new position in shares of CrowdStrike in the 4th quarter valued at $34,000. Finally, Luken Investment Analytics LLC bought a new position in shares of CrowdStrike in the 4th quarter worth $34,000. 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.