CrowdStrike (NASDAQ:CRWD) Shares Down 3.2% – Here’s Why

CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s share price dropped 3.2% during trading on Wednesday . The stock traded as low as $390.71 and last traded at $395.79. Approximately 1,630,433 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 3,152,768 shares. The stock had previously closed at $408.68.

Analyst Upgrades and Downgrades

CRWD has been the topic of a number of research analyst reports. Stifel Nicolaus lifted their price target on CrowdStrike from $375.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Wells Fargo & Company upped their target price on CrowdStrike from $350.00 to $400.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Hsbc Global Res cut shares of CrowdStrike from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 27th. Piper Sandler upped their price objective on shares of CrowdStrike from $290.00 to $375.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Finally, The Goldman Sachs Group lifted their target price on shares of CrowdStrike from $372.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, December 24th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $369.00.

CrowdStrike Trading Down 2.3 %

The business’s 50 day moving average price is $360.37 and its 200-day moving average price is $311.65. The company has a market cap of $98.31 billion, a price-to-earnings ratio of 776.63, a PEG ratio of 20.07 and a beta of 1.14. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.86 and a current ratio of 1.86.

Insider Activity at CrowdStrike

In related news, President Michael Sentonas sold 10,801 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $358.47, for a total transaction of $3,871,834.47. Following the completion of the sale, the president now owns 389,589 shares in the company, valued at $139,655,968.83. This trade represents a 2.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Shawn Henry sold 4,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $354.91, for a total transaction of $1,419,640.00. Following the sale, the insider now directly owns 98,214 shares in the company, valued at $34,857,130.74. This represents a 3.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 110,351 shares of company stock valued at $38,935,113 over the last quarter. 4.34% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CRWD. Jennison Associates LLC grew its holdings in shares of CrowdStrike by 25.0% during the third 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 lifted its position in CrowdStrike by 17,926.3% during the 3rd 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 in the last quarter. Daiwa Securities Group Inc. grew its holdings in CrowdStrike by 1,655.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 755,951 shares of the company’s stock worth $212,021,000 after acquiring an additional 712,900 shares during the last quarter. Assenagon Asset Management S.A. increased its position in CrowdStrike by 248.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 521,198 shares of the company’s stock valued at $146,180,000 after acquiring an additional 371,695 shares in the last quarter. Finally, State Street Corp raised its stake in shares of CrowdStrike by 2.9% in the third 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 last quarter. 71.16% of the stock is owned by institutional investors and hedge funds.

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.