CrowdStrike (NASDAQ:CRWD) Trading Down 7.5% Following Insider Selling

CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s share price fell 7.5% during trading on Thursday after an insider sold shares in the company. The company traded as low as $342.71 and last traded at $343.62. 1,252,047 shares were traded during mid-day trading, a decline of 74% from the average session volume of 4,885,782 shares. The stock had previously closed at $371.49.

Specifically, Director Gerhard Watzinger sold 10,000 shares of CrowdStrike stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $359.57, for a total transaction of $3,595,700.00. Following the transaction, the director now directly owns 62,891 shares in the company, valued at approximately $22,613,716.87. This trade represents a 13.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Analysts Set New Price Targets

A number of analysts recently commented on CRWD shares. Truist Financial dropped their target price on shares of CrowdStrike from $460.00 to $450.00 and set a “buy” rating on the stock in a report on Monday, March 31st. The Goldman Sachs Group reiterated a “buy” rating on shares of CrowdStrike in a research report on Wednesday, March 5th. Evercore ISI lifted their target price on CrowdStrike from $400.00 to $450.00 and gave the stock an “outperform” rating in a report on Wednesday, March 5th. BMO Capital Markets upped their target price on CrowdStrike from $380.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, March 5th. Finally, DA Davidson lifted their price target on CrowdStrike from $395.00 to $415.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, thirty have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $400.88.

CrowdStrike Trading Down 7.4 %

The company has a fifty day simple moving average of $386.18 and a two-hundred day simple moving average of $351.38. The company has a market capitalization of $79.72 billion, a P/E ratio of 630.66, a price-to-earnings-growth ratio of 17.86 and a beta of 1.28. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.86 and a quick ratio of 1.86.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CRWD. Vanguard Group Inc. grew its holdings in CrowdStrike by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 21,926,011 shares of the company’s stock valued at $7,502,204,000 after purchasing an additional 342,294 shares during the last quarter. State Street Corp raised its holdings in CrowdStrike by 2.9% in the 3rd quarter. State Street Corp now owns 9,630,776 shares of the company’s stock worth $2,701,144,000 after acquiring an additional 275,717 shares during the period. Jennison Associates LLC lifted its position in CrowdStrike by 6.9% during the 4th quarter. Jennison Associates LLC now owns 5,420,980 shares of the company’s stock worth $1,854,843,000 after acquiring an additional 352,180 shares during the last quarter. Geode Capital Management LLC boosted its holdings in CrowdStrike by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 5,018,441 shares of the company’s stock valued at $1,712,063,000 after acquiring an additional 124,984 shares during the period. Finally, Norges Bank acquired a new stake in shares of CrowdStrike in the fourth quarter valued at about $1,111,542,000. 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.