CrowdStrike (NASDAQ:CRWD) Trading Down 1% – Here’s What Happened

CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s stock price traded down 1% during mid-day trading on Thursday . The company traded as low as $373.46 and last traded at $374.08. 575,272 shares traded hands during trading, a decline of 79% from the average session volume of 2,794,317 shares. The stock had previously closed at $377.98.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Bank of America raised their target price on shares of CrowdStrike from $365.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Morgan Stanley lifted their price target on shares of CrowdStrike from $325.00 to $355.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Canaccord Genuity Group reiterated a “buy” rating and set a $330.00 target price on shares of CrowdStrike in a report on Monday, September 30th. Wells Fargo & Company lifted their price target on CrowdStrike from $350.00 to $400.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Finally, BNP Paribas assumed coverage on CrowdStrike in a research note on Tuesday, October 8th. They set a “neutral” rating and a $285.00 price target for the company. One research analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $369.00.

CrowdStrike Trading Down 0.7 %

The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.86 and a current ratio of 1.86. The stock has a market capitalization of $92.35 billion, a P/E ratio of 735.15, a price-to-earnings-growth ratio of 20.07 and a beta of 1.14. The business has a 50 day simple moving average of $358.65 and a 200-day simple moving average of $312.32.

Insiders Place Their Bets

In other news, Director Sameer K. Gandhi sold 5,036 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $320.48, for a total transaction of $1,613,937.28. Following the completion of the sale, the director now directly owns 816,730 shares of the company’s stock, valued at $261,745,630.40. This trade represents a 0.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Anurag Saha sold 1,863 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $358.46, for a total value of $667,810.98. Following the sale, the chief accounting officer now directly owns 41,059 shares in the company, valued at $14,718,009.14. This trade represents a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,351 shares of company stock worth $38,935,113. 4.34% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Jennison Associates LLC lifted its stake in CrowdStrike by 25.0% in the 3rd quarter. Jennison Associates LLC now owns 5,068,800 shares of the company’s stock worth $1,421,646,000 after acquiring an additional 1,013,161 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of CrowdStrike by 17,926.3% in the 3rd quarter. International Assets Investment Management LLC now owns 925,831 shares of the company’s stock valued at $259,668,000 after purchasing an additional 920,695 shares during the period. Daiwa Securities Group Inc. lifted its position in shares of CrowdStrike by 1,655.9% in the third quarter. Daiwa Securities Group Inc. now owns 755,951 shares of the company’s stock worth $212,021,000 after purchasing an additional 712,900 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings 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 worth $146,180,000 after purchasing an additional 371,695 shares during the period. Finally, State Street Corp grew its position in CrowdStrike by 2.9% during the third quarter. State Street Corp now owns 9,630,776 shares of the company’s stock valued at $2,701,144,000 after purchasing an additional 275,717 shares in the last quarter. 71.16% of the stock is owned by hedge funds and other 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.