CrowdStrike (NASDAQ:CRWD) Shares Down 2% Following Insider Selling

Shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) fell 2% during trading on Wednesday after an insider sold shares in the company. The company traded as low as $372.11 and last traded at $377.15. 710,299 shares traded hands during trading, a decline of 85% from the average session volume of 4,759,874 shares. The stock had previously closed at $384.95.

Specifically, insider Shawn Henry sold 2,547 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $365.96, for a total value of $932,100.12. Following the completion of the sale, the insider now directly owns 82,071 shares in the company, valued at approximately $30,034,703.16. The trade was a 3.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shawn Henry sold 5,096 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of $358.43, for a total value of $1,826,559.28. Following the completion of the transaction, the insider now directly owns 84,618 shares in the company, valued at $30,329,629.74. This trade represents a 5.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other CrowdStrike news, CFO Burt W. Podbere sold 13,529 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $358.10, for a total transaction of $4,844,734.90. Following the completion of the sale, the chief financial officer now directly owns 244,739 shares in the company, valued at $87,641,035.90. The trade was a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Analysts Set New Price Targets

Several equities analysts recently commented on CRWD shares. Barclays reduced their price target on CrowdStrike from $506.00 to $475.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. BMO Capital Markets increased their target price on CrowdStrike from $380.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, March 5th. Wells Fargo & Company lifted their price target on shares of CrowdStrike from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Rosenblatt Securities restated a “buy” rating and issued a $450.00 target price on shares of CrowdStrike in a research note on Wednesday, March 5th. Finally, Robert W. Baird dropped their price target on CrowdStrike from $440.00 to $405.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, thirty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, CrowdStrike has a consensus rating of “Moderate Buy” and an average price target of $400.26.

CrowdStrike Price Performance

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 $90.86 billion, a price-to-earnings ratio of 718.76, a P/E/G ratio of 17.86 and a beta of 1.19. The business has a 50-day moving average price of $388.15 and a 200 day moving average price of $347.35.

Hedge Funds Weigh In On CrowdStrike

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Fisher Asset Management LLC increased its position in shares of CrowdStrike by 17.9% in the third quarter. Fisher Asset Management LLC now owns 2,230 shares of the company’s stock worth $626,000 after acquiring an additional 339 shares in the last quarter. Brown Brothers Harriman & Co. grew its holdings in shares of CrowdStrike by 101.6% during the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the company’s stock valued at $71,000 after buying an additional 128 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in CrowdStrike by 19.3% during the third quarter. The Manufacturers Life Insurance Company now owns 159,034 shares of the company’s stock valued at $44,604,000 after buying an additional 25,774 shares during the period. Baldwin Investment Management LLC purchased a new stake in CrowdStrike in the 3rd quarter worth about $252,000. Finally, Townsquare Capital LLC grew its position in CrowdStrike by 1.6% during the third quarter. Townsquare Capital LLC now owns 8,495 shares of the company’s stock valued at $2,383,000 after purchasing an additional 133 shares in the last quarter. Institutional investors and hedge funds own 71.16% of the company’s stock.

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.