CrowdStrike (NASDAQ:CRWD) Shares Gap Down After Insider Selling

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) shares gapped down prior to trading on Wednesday following insider selling activity. The stock had previously closed at $488.76, but opened at $454.75. CrowdStrike shares last traded at $463.93, with a volume of 4,560,123 shares.

Specifically, Director Gerhard Watzinger sold 10,000 shares of CrowdStrike stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $489.00, for a total transaction of $4,890,000.00. Following the sale, the director now directly owns 29,500 shares in the company, valued at $14,425,500. The trade was a 25.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sameer K. Gandhi sold 6,250 shares of the company’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $484.59, for a total value of $3,028,687.50. Following the completion of the sale, the director now directly owns 755,592 shares in the company, valued at approximately $366,152,327.28. The trade was a 0.82% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analysts Set New Price Targets

CRWD has been the topic of a number of research reports. BTIG Research restated a “buy” rating on shares of CrowdStrike in a report on Thursday, May 22nd. Scotiabank boosted their price objective on shares of CrowdStrike from $370.00 to $480.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Needham & Company LLC raised their target price on shares of CrowdStrike from $420.00 to $530.00 and gave the company a “buy” rating in a research note on Wednesday. Raymond James reissued an “outperform” rating and issued a $485.00 price target (up from $390.00) on shares of CrowdStrike in a research report on Wednesday. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and set a $475.00 price objective (up previously from $420.00) on shares of CrowdStrike in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $449.38.

CrowdStrike Stock Up 0.5%

The company’s 50-day simple moving average is $413.06 and its two-hundred day simple moving average is $387.23. 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 firm has a market capitalization of $114.75 billion, a P/E ratio of 907.74, a P/E/G ratio of 17.86 and a beta of 1.22.

CrowdStrike (NASDAQ:CRWD) last announced its earnings results on Tuesday, June 3rd. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.07. CrowdStrike had a return on equity of 7.11% and a net margin of 3.39%. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the firm earned $0.93 EPS. CrowdStrike’s revenue for the quarter was up 19.8% compared to the same quarter last year. As a group, research analysts expect that CrowdStrike Holdings, Inc. will post 0.55 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Cloud Capital Management LLC bought a new stake in CrowdStrike during the 1st quarter worth approximately $25,000. Vision Financial Markets LLC purchased a new stake in shares of CrowdStrike in the first quarter worth $26,000. Atlantic Edge Private Wealth Management LLC raised its position in shares of CrowdStrike by 114.3% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 75 shares of the company’s stock valued at $26,000 after purchasing an additional 40 shares during the period. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of CrowdStrike by 305.3% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 77 shares of the company’s stock valued at $27,000 after buying an additional 58 shares in the last quarter. Finally, FPC Investment Advisory Inc. boosted its holdings in CrowdStrike by 811.1% in the 4th quarter. FPC Investment Advisory Inc. now owns 82 shares of the company’s stock worth $28,000 after buying an additional 73 shares during the period. 71.16% of the stock is owned by hedge funds and other institutional investors.

CrowdStrike Company Profile

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.