CrowdStrike (NASDAQ:CRWD) Stock Price Down 2.2% – Here’s Why

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) dropped 2.2% on Monday . The stock traded as low as $313.10 and last traded at $313.26. Approximately 1,300,463 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 5,226,584 shares. The stock had previously closed at $320.21.

Wall Street Analysts Forecast Growth

CRWD has been the subject of several research reports. DA Davidson reaffirmed a “buy” rating and issued a $310.00 target price on shares of CrowdStrike in a research report on Wednesday, September 18th. Royal Bank of Canada dropped their target price on CrowdStrike from $345.00 to $335.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Hsbc Global Res raised CrowdStrike from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 30th. Susquehanna reissued a “positive” rating and set a $310.00 price objective on shares of CrowdStrike in a research report on Thursday, September 19th. Finally, Needham & Company LLC started coverage on CrowdStrike in a research report on Monday, September 23rd. They set a “buy” rating and a $360.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-three have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, CrowdStrike presently has an average rating of “Moderate Buy” and an average target price of $325.44.

CrowdStrike Stock Performance

The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $75.55 billion, a price-to-earnings ratio of 591.06, a PEG ratio of 19.94 and a beta of 1.10. The stock’s 50 day moving average is $268.78 and its 200 day moving average is $308.63.

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

Insiders Place Their Bets

In other CrowdStrike news, CFO Burt W. Podbere sold 11,178 shares of CrowdStrike stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $297.47, for a total value of $3,325,119.66. Following the completion of the sale, the chief financial officer now directly owns 286,472 shares of the company’s stock, valued at approximately $85,216,825.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Shawn Henry sold 4,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $260.00, for a total transaction of $1,040,000.00. Following the completion of the sale, the insider now directly owns 179,091 shares of the company’s stock, valued at $46,563,660. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Burt W. Podbere sold 11,178 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $297.47, for a total transaction of $3,325,119.66. Following the sale, the chief financial officer now directly owns 286,472 shares of the company’s stock, valued at $85,216,825.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 92,962 shares of company stock valued at $27,289,518. Company insiders own 4.34% of the company’s stock.

Institutional Trading of CrowdStrike

Institutional investors have recently added to or reduced their stakes in the business. Burney Co. purchased a new stake in CrowdStrike during the 1st quarter worth $1,342,000. Doliver Advisors LP boosted its position in CrowdStrike by 223.2% during the 3rd quarter. Doliver Advisors LP now owns 6,754 shares of the company’s stock worth $1,894,000 after purchasing an additional 4,664 shares during the period. HWG Holdings LP purchased a new stake in CrowdStrike during the 2nd quarter worth $2,955,000. Principal Financial Group Inc. lifted its holdings in CrowdStrike by 429.2% in the 2nd quarter. Principal Financial Group Inc. now owns 298,443 shares of the company’s stock worth $114,360,000 after buying an additional 242,052 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. lifted its holdings in CrowdStrike by 24.3% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 10,060 shares of the company’s stock worth $3,855,000 after buying an additional 1,966 shares in the last quarter. 71.16% of the stock is owned by hedge funds and other institutional investors.

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.