CrowdStrike (NASDAQ:CRWD) Stock Price Down 2.6% – What’s Next?

CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s stock price traded down 2.6% during mid-day trading on Friday . The stock traded as low as $355.77 and last traded at $356.99. 824,009 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 4,762,175 shares. The stock had previously closed at $366.56.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CRWD shares. Evercore ISI raised their target price on shares of CrowdStrike from $400.00 to $450.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 5th. Baird R W cut CrowdStrike from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 3rd. Needham & Company LLC restated a “buy” rating and set a $420.00 target price on shares of CrowdStrike in a research note on Wednesday, March 5th. Wells Fargo & Company lifted their price target on shares of CrowdStrike from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Finally, BTIG Research upgraded CrowdStrike from a “neutral” rating to a “buy” rating and set a $431.00 target price for the company in a research report on Tuesday, March 25th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, CrowdStrike currently has an average rating of “Moderate Buy” and a consensus price target of $400.26.

CrowdStrike Stock Down 2.6 %

The business’s 50 day simple moving average is $388.15 and its 200 day simple moving average is $348.82. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.86 and a quick ratio of 1.86. The company has a market capitalization of $88.52 billion, a PE ratio of 700.23, a P/E/G ratio of 17.86 and a beta of 1.19.

Insider Buying and Selling

In other CrowdStrike news, CEO George Kurtz sold 22,449 shares of the stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $358.68, for a total transaction of $8,052,007.32. Following the completion of the transaction, the chief executive officer now owns 2,178,452 shares of the company’s stock, valued at $781,367,163.36. This trade represents a 1.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Anurag Saha sold 1,496 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $358.62, for a total transaction of $536,495.52. Following the completion of the transaction, the chief accounting officer now owns 36,165 shares in the company, valued at approximately $12,969,492.30. This represents a 3.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 110,801 shares of company stock worth $42,092,255. Company insiders own 4.34% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CRWD. Fisher Asset Management LLC grew its position in CrowdStrike by 17.9% in the 3rd quarter. Fisher Asset Management LLC now owns 2,230 shares of the company’s stock valued at $626,000 after acquiring an additional 339 shares in the last quarter. Townsquare Capital LLC increased its stake in CrowdStrike by 1.6% during the 3rd quarter. Townsquare Capital LLC now owns 8,495 shares of the company’s stock worth $2,383,000 after buying an additional 133 shares during the period. Glenmede Trust Co. NA lifted its holdings in CrowdStrike by 119.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 2,927 shares of the company’s stock worth $821,000 after buying an additional 1,591 shares in the last quarter. CreativeOne Wealth LLC boosted its position in CrowdStrike by 20.1% in the 3rd quarter. CreativeOne Wealth LLC now owns 4,663 shares of the company’s stock valued at $1,308,000 after buying an additional 780 shares during the period. Finally, Icon Wealth Advisors LLC grew its stake in shares of CrowdStrike by 13.2% in the third quarter. Icon Wealth Advisors LLC now owns 1,942 shares of the company’s stock worth $545,000 after acquiring an additional 227 shares in the last quarter. 71.16% of the stock is currently 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.