CrowdStrike (NASDAQ:CRWD) Trading Down 1.2% - Here's Why

CrowdStrike Holdings, Inc. (NASDAQ:CRWD - Get Free Report)'s share price traded down 1.2% during mid-day trading on Thursday . The company traded as low as $363.09 and last traded at $373.37. 1,055,018 shares were traded during trading, a decline of 79% from the average session volume of 4,967,421 shares. The stock had previously closed at $378.01.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CRWD shares. Rosenblatt Securities restated a "buy" rating and set a $450.00 target price on shares of CrowdStrike in a research report on Wednesday, March 5th. UBS Group dropped their price objective on CrowdStrike from $450.00 to $425.00 and set a "buy" rating for the company in a report on Wednesday, March 5th. Stephens initiated coverage on shares of CrowdStrike in a research report on Tuesday, April 1st. They set an "overweight" rating and a $450.00 price objective for the company. Guggenheim reissued a "neutral" rating on shares of CrowdStrike in a research note on Wednesday, March 5th. Finally, Evercore ISI upped their target price on CrowdStrike from $400.00 to $450.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $400.88.

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CrowdStrike Stock Performance

The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $93.86 billion, a P/E ratio of 742.49, a PEG ratio of 17.86 and a beta of 1.28. The company's 50-day moving average is $380.13 and its two-hundred day moving average is $355.34.

Insider Activity

In other CrowdStrike news, CAO Anurag Saha sold 1,496 shares of the business's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $358.62, for a total value of $536,495.52. Following the completion of the sale, the chief accounting officer now directly owns 36,165 shares of the company's stock, valued at $12,969,492.30. The trade was a 3.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO George Kurtz sold 22,449 shares of the company's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $358.68, for a total transaction of $8,052,007.32. Following the sale, the chief executive officer now owns 2,178,452 shares of the company's stock, valued at approximately $781,367,163.36. The trade was a 1.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 120,801 shares of company stock worth $45,553,642. 4.34% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in CrowdStrike in the fourth quarter valued at $1,111,542,000. GAMMA Investing LLC raised its stake in CrowdStrike by 50,536.2% in the first quarter. GAMMA Investing LLC now owns 1,086,652 shares of the company's stock worth $383,132,000 after buying an additional 1,084,506 shares in the last quarter. Pathstone Holdings LLC boosted its position in CrowdStrike by 379.0% during the 4th quarter. Pathstone Holdings LLC now owns 1,286,200 shares of the company's stock valued at $440,116,000 after acquiring an additional 1,017,678 shares in the last quarter. Raymond James Financial Inc. bought a new stake in CrowdStrike during the 4th quarter valued at approximately $237,375,000. Finally, Voya Investment Management LLC grew its holdings in shares of CrowdStrike by 43.5% during the 4th quarter. Voya Investment Management LLC now owns 1,920,901 shares of the company's stock worth $657,106,000 after acquiring an additional 582,471 shares during the period. 71.16% of the stock is owned by hedge funds and other institutional investors.

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.