CrowdStrike (NASDAQ:CRWD) Stock Price Down 1.5% – Here’s What Happened

CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s share price was down 1.5% during mid-day trading on Tuesday . The stock traded as low as $436.70 and last traded at $437.83. Approximately 502,066 shares traded hands during trading, a decline of 90% from the average daily volume of 5,081,408 shares. The stock had previously closed at $444.35.

Analysts Set New Price Targets

Several brokerages recently issued reports on CRWD. JMP Securities lifted their price target on shares of CrowdStrike from $400.00 to $500.00 and gave the company a “market outperform” rating in a report on Monday, May 5th. Susquehanna lifted their target price on shares of CrowdStrike from $400.00 to $425.00 and gave the company a “positive” rating in a research note on Wednesday, March 5th. Citigroup restated an “outperform” rating on shares of CrowdStrike in a report on Monday, May 5th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $450.00 target price on shares of CrowdStrike in a research note on Thursday, May 8th. Finally, Evercore ISI raised their price target on CrowdStrike from $400.00 to $450.00 and gave the company an “outperform” rating in a report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-nine have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $403.56.

CrowdStrike Stock Down 1.3%

The stock has a market capitalization of $108.74 billion, a PE ratio of 861.84, a price-to-earnings-growth ratio of 17.86 and a beta of 1.22. 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 business’s fifty day moving average price is $387.79 and its two-hundred day moving average price is $376.25.

Insider Buying and Selling at CrowdStrike

In other news, President Michael Sentonas sold 13,543 shares of CrowdStrike stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $358.62, for a total value of $4,856,790.66. Following the sale, the president now owns 405,308 shares in the company, valued at $145,351,554.96. This trade represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO George Kurtz sold 55,556 shares of the firm’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $447.54, for a total transaction of $24,863,532.24. Following the completion of the transaction, the chief executive officer now directly owns 2,192,610 shares in the company, valued at $981,280,679.40. This represents a 2.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 185,431 shares of company stock worth $74,472,548. Insiders own 3.32% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new stake in CrowdStrike in the 4th quarter valued at about $1,111,542,000. Nuveen LLC acquired a new position in CrowdStrike in the 1st quarter valued at about $595,766,000. Jennison Associates LLC increased its stake in CrowdStrike by 21.1% during the first quarter. Jennison Associates LLC now owns 6,565,275 shares of the company’s stock worth $2,314,785,000 after purchasing an additional 1,144,295 shares during the period. GAMMA Investing LLC boosted its position in CrowdStrike by 50,536.2% in the 1st quarter. GAMMA Investing LLC now owns 1,086,652 shares of the company’s stock valued at $383,132,000 after buying an additional 1,084,506 shares during the period. Finally, Pathstone Holdings LLC increased its holdings in CrowdStrike by 379.0% during the 4th quarter. Pathstone Holdings LLC now owns 1,286,200 shares of the company’s stock worth $440,116,000 after purchasing an additional 1,017,678 shares during the period. 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.