CrowdStrike (NASDAQ:CRWD) Stock Price Down 7.5% Following Insider Selling

CrowdStrike Holdings, Inc. (NASDAQ:CRWD - Get Free Report)'s share price was down 7.5% on Thursday after an insider sold shares in the company. The company traded as low as $342.71 and last traded at $343.62. Approximately 1,252,047 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 4,885,782 shares. The stock had previously closed at $371.49.

Specifically, Director Gerhard Watzinger sold 10,000 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $359.57, for a total transaction of $3,595,700.00. Following the transaction, the director now directly owns 62,891 shares of the company's stock, valued at $22,613,716.87. This represents a 13.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Robert W. Baird dropped their price target on CrowdStrike from $440.00 to $405.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 5th. Canaccord Genuity Group increased their price objective on CrowdStrike from $370.00 to $420.00 and gave the company a "buy" rating in a report on Monday, March 3rd. Guggenheim reaffirmed a "neutral" rating on shares of CrowdStrike in a report on Wednesday, March 5th. Jefferies Financial Group decreased their price objective on shares of CrowdStrike from $425.00 to $410.00 and set a "buy" rating for the company in a research note on Monday. Finally, DA Davidson lifted their price objective on CrowdStrike from $395.00 to $415.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $400.88.

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CrowdStrike Stock Performance

The firm has a market cap of $79.72 billion, a PE ratio of 630.66, a PEG ratio of 17.86 and a beta of 1.28. 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's 50 day moving average price is $386.18 and its two-hundred day moving average price is $351.38.

Hedge Funds Weigh In On CrowdStrike

Several large investors have recently modified their holdings of the business. Berbice Capital Management LLC purchased a new stake in CrowdStrike in the 4th quarter valued at about $27,000. FPC Investment Advisory Inc. increased its holdings in CrowdStrike by 811.1% in the 4th quarter. FPC Investment Advisory Inc. now owns 82 shares of the company's stock valued at $28,000 after purchasing an additional 73 shares during the last quarter. Fortitude Family Office LLC raised its position in CrowdStrike by 112.8% in the fourth quarter. Fortitude Family Office LLC now owns 83 shares of the company's stock valued at $28,000 after purchasing an additional 44 shares during the period. Crowley Wealth Management Inc. acquired a new position in CrowdStrike during the fourth quarter worth $34,000. Finally, Luken Investment Analytics LLC purchased a new position in shares of CrowdStrike during the fourth quarter worth $34,000. Institutional investors and hedge funds own 71.16% of the company's stock.

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.