CrowdStrike (NASDAQ:CRWD) Shares Down 1.4% – What’s Next?

CrowdStrike (NASDAQ:CRWD) was down 1.4% on Thursday . The company traded as low as $478.82 and last traded at $485.16. Approximately 2,825,785 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 5,006,881 shares. The stock had previously closed at $492.03.

Analysts Set New Price Targets

A number of analysts recently weighed in on CRWD shares. JMP Securities restated a “market outperform” rating and issued a $500.00 price objective on shares of CrowdStrike in a report on Wednesday, June 4th. Wells Fargo & Company increased their price objective on CrowdStrike from $430.00 to $550.00 and gave the company an “overweight” rating in a report on Monday, June 2nd. Morgan Stanley increased their price objective on CrowdStrike from $455.00 to $490.00 and gave the company an “overweight” rating in a report on Wednesday, June 4th. BMO Capital Markets increased their price objective on CrowdStrike from $405.00 to $500.00 and gave the company an “outperform” rating in a report on Wednesday, June 4th. Finally, Citigroup restated an “outperform” rating on shares of CrowdStrike in a report on Monday, May 5th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $453.17.

CrowdStrike Stock Down 1.8%

The company has a market cap of $118.72 billion, a P/E ratio of -690.29 and a beta of 1.16. The stock’s 50-day moving average price is $440.62 and its 200-day moving average price is $396.60. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.21.

CrowdStrike (NASDAQ:CRWD) last announced its quarterly earnings results on Tuesday, June 3rd. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.07. CrowdStrike had a negative net margin of 4.17% and a positive return on equity of 0.43%. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter last year, the firm earned $0.93 EPS. The firm’s revenue for the quarter was up 19.8% compared to the same quarter last year. As a group, research analysts forecast that CrowdStrike will post 0.55 EPS for the current year.

Insider Activity at CrowdStrike

In related news, insider Shawn Henry sold 2,547 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $365.96, for a total value of $932,100.12. Following the transaction, the insider now owns 82,071 shares of the company’s stock, valued at approximately $30,034,703.16. This trade represents a 3.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Anurag Saha sold 2,141 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $371.79, for a total transaction of $796,002.39. Following the completion of the transaction, the chief accounting officer now directly owns 34,024 shares in the company, valued at approximately $12,649,782.96. The trade was a 5.92% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 201,748 shares of company stock valued at $89,478,971. 3.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CrowdStrike

Several hedge funds have recently modified their holdings of the company. FSA Wealth Management LLC lifted its position in shares of CrowdStrike by 11.2% during the 4th quarter. FSA Wealth Management LLC now owns 228 shares of the company’s stock worth $78,000 after buying an additional 23 shares in the last quarter. Real Talk Capital LLC lifted its position in shares of CrowdStrike by 0.9% during the 1st quarter. Real Talk Capital LLC now owns 2,732 shares of the company’s stock worth $963,000 after buying an additional 24 shares in the last quarter. Jacobi Capital Management LLC lifted its position in shares of CrowdStrike by 1.9% during the 4th quarter. Jacobi Capital Management LLC now owns 1,309 shares of the company’s stock worth $448,000 after buying an additional 25 shares in the last quarter. Tradewinds Capital Management LLC lifted its position in shares of CrowdStrike by 20.8% during the 1st quarter. Tradewinds Capital Management LLC now owns 145 shares of the company’s stock worth $51,000 after buying an additional 25 shares in the last quarter. Finally, Close Asset Management Ltd lifted its position in shares of CrowdStrike by 23.8% during the 1st quarter. Close Asset Management Ltd now owns 130 shares of the company’s stock worth $46,000 after buying an additional 25 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.