CrowdStrike (NASDAQ:CRWD) Shares Down 0.7% – Here’s Why

Shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) dropped 0.7% during mid-day trading on Tuesday . The company traded as low as $305.28 and last traded at $307.25. Approximately 578,346 shares traded hands during trading, a decline of 89% from the average daily volume of 5,169,307 shares. The stock had previously closed at $309.55.

Analyst Ratings Changes

A number of brokerages have weighed in on CRWD. Cantor Fitzgerald restated an “overweight” rating and issued a $350.00 target price on shares of CrowdStrike in a research report on Thursday, September 19th. Deutsche Bank Aktiengesellschaft cut their price objective on CrowdStrike from $350.00 to $275.00 and set a “hold” rating on the stock in a report on Monday, August 26th. UBS Group lowered their target price on CrowdStrike from $330.00 to $310.00 and set a “buy” rating for the company in a report on Thursday, August 29th. BMO Capital Markets lifted their price target on CrowdStrike from $290.00 to $315.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $325.00 price objective on shares of CrowdStrike in a research note on Wednesday, August 28th. One research 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $328.74.

CrowdStrike Price Performance

The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.26. The business’s 50-day moving average is $279.73 and its two-hundred day moving average is $308.09. The company has a market capitalization of $72.84 billion, a P/E ratio of 564.72, a price-to-earnings-growth ratio of 19.94 and a beta of 1.10.

CrowdStrike (NASDAQ:CRWD) last posted its earnings results on Wednesday, August 28th. The company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.97 by $0.07. The firm 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 company’s quarterly revenue was up 31.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.06 EPS. As a group, analysts predict that CrowdStrike Holdings, Inc. will post 0.53 earnings per share for the current year.

Insiders Place Their Bets

In other news, President Michael Sentonas sold 10,776 shares of the firm’s stock in a transaction on 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 sale, the president now directly owns 400,390 shares of the company’s stock, valued at $119,027,939.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, President Michael Sentonas sold 10,776 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $297.28, for a total transaction of $3,203,489.28. Following the completion of the sale, the president now owns 400,390 shares in the company, valued at $119,027,939.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Anurag Saha sold 1,683 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $297.28, for a total value of $500,322.24. Following the transaction, the chief accounting officer now directly owns 38,962 shares of the company’s stock, valued at approximately $11,582,623.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 103,212 shares of company stock valued at $30,529,413. Insiders own 4.34% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CRWD. International Assets Investment Management LLC boosted its holdings in shares of CrowdStrike by 17,926.3% in the third quarter. International Assets Investment Management LLC now owns 925,831 shares of the company’s stock worth $259,668,000 after acquiring an additional 920,695 shares during the period. Bank of New York Mellon Corp boosted its stake in CrowdStrike by 47.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,753,252 shares of the company’s stock worth $671,828,000 after purchasing an additional 564,662 shares during the period. Acadian Asset Management LLC grew its holdings in CrowdStrike by 619.0% during the 1st quarter. Acadian Asset Management LLC now owns 554,876 shares of the company’s stock valued at $177,865,000 after buying an additional 477,706 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of CrowdStrike by 248.6% during the third quarter. Assenagon Asset Management S.A. now owns 521,198 shares of the company’s stock valued at $146,180,000 after buying an additional 371,695 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of CrowdStrike by 2.0% in the first quarter. Vanguard Group Inc. now owns 16,061,400 shares of the company’s stock worth $5,149,124,000 after buying an additional 315,280 shares in the last quarter. 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.