CrowdStrike (NASDAQ:CRWD) Stock Price Down 7.2% Following Insider Selling

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) dropped 7.2% on Friday following insider selling activity. The stock traded as low as $310.31 and last traded at $322.54. Approximately 2,097,115 shares traded hands during trading, a decline of 57% from the average daily volume of 4,899,311 shares. The stock had previously closed at $347.39.

Specifically, Director Gerhard Watzinger sold 10,000 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $359.57, for a total transaction of $3,595,700.00. Following the completion of the sale, the director now directly owns 62,891 shares of the company’s stock, valued at approximately $22,613,716.87. This represents a 13.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Scotiabank reiterated a “sector perform” rating on shares of CrowdStrike in a report on Wednesday, February 5th. Stephens began coverage on shares of CrowdStrike in a report on Tuesday. They issued an “overweight” rating and a $450.00 price objective on the stock. Piper Sandler set a $347.00 target price on CrowdStrike in a research note on Wednesday, March 5th. UBS Group cut their price target on CrowdStrike from $450.00 to $425.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Finally, Truist Financial lowered their price objective on CrowdStrike from $460.00 to $450.00 and set a “buy” rating for the company in a research note on Monday. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $400.88.

CrowdStrike Price Performance

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 firm has a market capitalization of $80.49 billion, a P/E ratio of 637.25, a price-to-earnings-growth ratio of 17.86 and a beta of 1.28. The business has a fifty day moving average of $387.24 and a 200-day moving average of $351.01.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CRWD. Empirical Asset Management LLC acquired a new stake in CrowdStrike in the fourth quarter worth about $11,310,000. Arcadia Investment Management Corp MI lifted its stake in shares of CrowdStrike by 30.8% in the 4th quarter. Arcadia Investment Management Corp MI now owns 11,954 shares of the company’s stock worth $4,090,000 after acquiring an additional 2,814 shares during the period. Greenleaf Trust boosted its holdings in shares of CrowdStrike by 53.4% in the fourth quarter. Greenleaf Trust now owns 2,967 shares of the company’s stock valued at $1,015,000 after acquiring an additional 1,033 shares in the last quarter. Trifecta Capital Advisors LLC boosted its holdings in shares of CrowdStrike by 2,140.3% in the fourth quarter. Trifecta Capital Advisors LLC now owns 8,961 shares of the company’s stock valued at $3,066,000 after acquiring an additional 8,561 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in CrowdStrike by 42.6% during the fourth quarter. Fifth Third Bancorp now owns 44,609 shares of the company’s stock worth $15,263,000 after purchasing an additional 13,323 shares in 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.