CrowdStrike (NASDAQ:CRWD) Trading Down 2% – What’s Next?

CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s stock price dropped 2% during mid-day trading on Thursday . The stock traded as low as $299.30 and last traded at $301.21. Approximately 649,858 shares traded hands during trading, a decline of 87% from the average daily volume of 5,104,274 shares. The stock had previously closed at $307.45.

Analyst Ratings Changes

CRWD has been the topic of several research reports. Argus cut their price target on CrowdStrike from $400.00 to $325.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. BTIG Research lowered shares of CrowdStrike from a “buy” rating to a “neutral” rating in a research note on Monday, July 22nd. Rosenblatt Securities reissued a “buy” rating and set a $325.00 price target on shares of CrowdStrike in a research note on Thursday, September 19th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $330.00 price objective on shares of CrowdStrike in a research note on Monday, September 30th. Finally, The Goldman Sachs Group decreased their price objective on CrowdStrike from $400.00 to $295.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. 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 assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $328.74.

CrowdStrike Stock Performance

The stock has a fifty day simple moving average of $283.63 and a two-hundred day simple moving average of $307.82. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a market cap of $72.65 billion, a price-to-earnings ratio of 568.32, a P/E/G ratio of 19.94 and a beta of 1.10.

CrowdStrike (NASDAQ:CRWD) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.07. CrowdStrike had a return on equity of 8.44% and a net margin of 4.84%. The business had revenue of $963.87 million during the quarter, compared to the consensus estimate of $958.27 million. During the same period in the prior year, the company earned $0.06 EPS. CrowdStrike’s revenue for the quarter was up 31.7% on a year-over-year basis. Analysts expect that CrowdStrike Holdings, Inc. will post 0.53 EPS for the current fiscal year.

Insider Activity

In related news, insider Shawn Henry sold 4,500 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $260.73, for a total transaction of $1,173,285.00. Following the completion of the transaction, the insider now directly owns 174,591 shares in the company, valued at $45,521,111.43. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO George Kurtz sold 55,325 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $296.62, for a total value of $16,410,501.50. Following the completion of the transaction, the chief executive officer now owns 1,109,746 shares of the company’s stock, valued at $329,172,858.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Shawn Henry sold 4,500 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $260.73, for a total transaction of $1,173,285.00. Following the completion of the transaction, the insider now owns 174,591 shares of the company’s stock, valued at approximately $45,521,111.43. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 103,212 shares of company stock worth $30,529,413. Corporate insiders own 4.34% of the company’s stock.

Hedge Funds Weigh In On CrowdStrike

A number of hedge funds have recently modified their holdings of CRWD. Arlington Financial Advisors LLC raised its stake in shares of CrowdStrike by 1.5% in the second quarter. Arlington Financial Advisors LLC now owns 2,030 shares of the company’s stock worth $778,000 after purchasing an additional 30 shares during the last quarter. Saturna Capital Corp grew its holdings in CrowdStrike by 2.7% during the first quarter. Saturna Capital Corp now owns 1,273 shares of the company’s stock worth $408,000 after buying an additional 33 shares in the last quarter. Sunpointe LLC raised its position in CrowdStrike by 3.1% in the 3rd quarter. Sunpointe LLC now owns 1,131 shares of the company’s stock valued at $317,000 after buying an additional 34 shares during the last quarter. Means Investment CO. Inc. lifted its stake in CrowdStrike by 1.8% during the 2nd quarter. Means Investment CO. Inc. now owns 1,933 shares of the company’s stock valued at $741,000 after acquiring an additional 35 shares in the last quarter. Finally, Interchange Capital Partners LLC boosted its holdings in CrowdStrike by 1.1% during the 3rd quarter. Interchange Capital Partners LLC now owns 3,694 shares of the company’s stock worth $1,036,000 after acquiring an additional 39 shares during 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.