CrowdStrike (NASDAQ:CRWD) Shares Down 2.4% – Here’s What Happened

CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s share price traded down 2.4% during mid-day trading on Friday . The company traded as low as $334.79 and last traded at $336.14. 891,691 shares were traded during mid-day trading, a decline of 82% from the average session volume of 5,012,243 shares. The stock had previously closed at $344.36.

Analyst Upgrades and Downgrades

CRWD has been the subject of several analyst reports. HSBC upgraded CrowdStrike from a “hold” rating to a “buy” rating and increased their target price for the company from $302.00 to $339.00 in a report on Friday, August 30th. Barclays lifted their price target on shares of CrowdStrike from $285.00 to $295.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Jefferies Financial Group upped their price objective on shares of CrowdStrike from $315.00 to $345.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Hsbc Global Res raised shares of CrowdStrike from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 30th. Finally, Wells Fargo & Company decreased their price target on shares of CrowdStrike from $435.00 to $350.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $328.74.

CrowdStrike Trading Down 3.1 %

The company has a 50-day moving average price of $295.99 and a two-hundred day moving average price of $309.90. The stock has a market cap of $81.81 billion, a P/E ratio of 487.16, a P/E/G ratio of 23.52 and a beta of 1.10. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.26.

CrowdStrike (NASDAQ:CRWD) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. The business had revenue of $963.87 million for the quarter, compared to analysts’ expectations of $958.27 million. CrowdStrike had a net margin of 4.84% and a return on equity of 8.44%. The business’s revenue was up 31.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.06 earnings per share. On average, research analysts expect that CrowdStrike Holdings, Inc. will post 0.52 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO George Kurtz sold 55,325 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $296.62, for a total transaction of $16,410,501.50. Following the completion of the sale, the chief executive officer now directly owns 1,109,746 shares of the company’s stock, valued at approximately $329,172,858.52. The trade was a 4.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Michael Sentonas sold 10,776 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $297.28, for a total transaction of $3,203,489.28. Following the completion of the transaction, the president now directly owns 400,390 shares in the company, valued at $119,027,939.20. This represents a 2.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 104,248 shares of company stock valued at $31,103,350 in the last ninety days. 4.34% of the stock is owned by company insiders.

Institutional Investors Weigh In On CrowdStrike

Institutional investors and hedge funds have recently bought and sold shares of the company. Quent Capital LLC raised its holdings in shares of CrowdStrike by 59.9% in the first quarter. Quent Capital LLC now owns 235 shares of the company’s stock valued at $75,000 after acquiring an additional 88 shares in the last quarter. Kingsview Wealth Management LLC increased its position in CrowdStrike by 2.6% during the 1st quarter. Kingsview Wealth Management LLC now owns 6,731 shares of the company’s stock valued at $2,158,000 after purchasing an additional 169 shares during the period. Nwam LLC raised its holdings in shares of CrowdStrike by 5.5% in the 1st quarter. Nwam LLC now owns 2,470 shares of the company’s stock valued at $772,000 after purchasing an additional 128 shares in the last quarter. Banco Santander S.A. lifted its position in shares of CrowdStrike by 61.5% in the 1st quarter. Banco Santander S.A. now owns 37,107 shares of the company’s stock worth $11,896,000 after purchasing an additional 14,137 shares during the period. Finally, First Foundation Advisors increased its holdings in CrowdStrike by 22.7% during the first quarter. First Foundation Advisors now owns 265 shares of the company’s stock valued at $85,000 after buying an additional 49 shares during the period. 71.16% of the stock is 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.