CrowdStrike (NASDAQ:CRWD) Trading Down 3.4% – Here’s Why

CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s share price traded down 3.4% during trading on Friday . The company traded as low as $344.70 and last traded at $346.48. 923,158 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 2,384,126 shares. The stock had previously closed at $358.72.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CRWD. Oppenheimer increased their target price on shares of CrowdStrike from $365.00 to $410.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. increased their price objective on shares of CrowdStrike from $372.00 to $418.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Wedbush set a $330.00 target price on CrowdStrike in a research note on Thursday, October 17th. Citigroup increased their price target on CrowdStrike from $300.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Finally, Robert W. Baird boosted their price objective on CrowdStrike from $375.00 to $390.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $365.88.

CrowdStrike Price Performance

The stock’s fifty day moving average price is $352.17 and its 200-day moving average price is $313.50. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.86 and a quick ratio of 1.86. The firm has a market cap of $85.92 billion, a price-to-earnings ratio of 684.01, a price-to-earnings-growth ratio of 19.48 and a beta of 1.14.

Insider Activity

In other news, Director Sameer K. Gandhi sold 6,250 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $345.65, for a total value of $2,160,312.50. Following the completion of the sale, the director now directly owns 811,842 shares of the company’s stock, valued at $280,613,187.30. This represents a 0.76 % 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 this link. Also, insider Shawn Henry sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $340.44, for a total transaction of $1,361,760.00. Following the sale, the insider now owns 120,298 shares of the company’s stock, valued at approximately $40,954,251.12. This represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 110,351 shares of company stock worth $38,752,993 over the last quarter. Corporate insiders own 4.34% of the company’s stock.

Institutional Trading of CrowdStrike

A number of institutional investors have recently bought and sold shares of the company. Jennison Associates LLC increased its stake in shares of CrowdStrike by 25.0% during the 3rd quarter. Jennison Associates LLC now owns 5,068,800 shares of the company’s stock worth $1,421,646,000 after purchasing an additional 1,013,161 shares during the last quarter. International Assets Investment Management LLC increased its position in CrowdStrike by 17,926.3% during the third quarter. International Assets Investment Management LLC now owns 925,831 shares of the company’s stock worth $259,668,000 after buying an additional 920,695 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in CrowdStrike by 1,655.9% during the third quarter. Daiwa Securities Group Inc. now owns 755,951 shares of the company’s stock valued at $212,021,000 after buying an additional 712,900 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of CrowdStrike by 248.6% in the third quarter. Assenagon Asset Management S.A. now owns 521,198 shares of the company’s stock worth $146,180,000 after buying an additional 371,695 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of CrowdStrike by 2.9% during 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 in the last quarter. 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.