CrowdStrike (NASDAQ:CRWD) Shares Down 7.5% Following Insider Selling

Shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) traded down 7.5% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $342.71 and last traded at $343.62. 1,252,047 shares were traded during mid-day trading, a decline of 74% from the average session volume of 4,885,782 shares. The stock had previously closed at $371.49.

Specifically, Director Gerhard Watzinger sold 10,000 shares of CrowdStrike stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $359.57, for a total transaction of $3,595,700.00. Following the transaction, the director now owns 62,891 shares of the company’s stock, valued at $22,613,716.87. The trade was a 13.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Analysts Set New Price Targets

CRWD has been the subject of several research reports. DA Davidson raised their price target on shares of CrowdStrike from $395.00 to $415.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Jefferies Financial Group decreased their target price on shares of CrowdStrike from $425.00 to $410.00 and set a “buy” rating for the company in a research note on Monday. Baird R W downgraded shares of CrowdStrike from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 3rd. Guggenheim reissued a “neutral” rating on shares of CrowdStrike in a research report on Wednesday, March 5th. Finally, KeyCorp dropped their target price on CrowdStrike from $480.00 to $450.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $400.88.

CrowdStrike Price Performance

The stock has a market cap of $85.67 billion, a price-to-earnings ratio of 677.68, a price-to-earnings-growth ratio of 17.86 and a beta of 1.19. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.24. The company’s 50-day moving average is $387.85 and its 200-day moving average is $351.03.

Hedge Funds Weigh In On CrowdStrike

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Benjamin Edwards Inc. grew its holdings in shares of CrowdStrike by 260,400.0% in the 3rd quarter. Benjamin Edwards Inc. now owns 5,210 shares of the company’s stock worth $1,461,000 after purchasing an additional 5,208 shares during the last quarter. Hilltop Holdings Inc. boosted its position in CrowdStrike by 1.8% in the third quarter. Hilltop Holdings Inc. now owns 1,932 shares of the company’s stock valued at $542,000 after buying an additional 34 shares in the last quarter. Investment Management Corp of Ontario grew its stake in CrowdStrike by 48.3% during the third quarter. Investment Management Corp of Ontario now owns 7,673 shares of the company’s stock worth $2,152,000 after buying an additional 2,500 shares during the last quarter. Integrated Wealth Concepts LLC increased its holdings in shares of CrowdStrike by 18.2% during the third quarter. Integrated Wealth Concepts LLC now owns 19,828 shares of the company’s stock worth $5,561,000 after buying an additional 3,056 shares in the last quarter. Finally, Ingalls & Snyder LLC raised its stake in shares of CrowdStrike by 2.3% in the third quarter. Ingalls & Snyder LLC now owns 6,250 shares of the company’s stock valued at $1,753,000 after acquiring an additional 140 shares during the last quarter. Institutional investors 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.