CrowdStrike (NASDAQ:CRWD) Stock Price Down 8.4% – Here’s Why

CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s share price traded down 8.4% on Monday . The stock traded as low as $305.10 and last traded at $305.54. 2,082,887 shares were traded during trading, a decline of 46% from the average session volume of 3,849,709 shares. The stock had previously closed at $333.50.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Citigroup reiterated a “buy” rating on shares of CrowdStrike in a report on Wednesday, February 5th. BMO Capital Markets increased their price objective on CrowdStrike from $380.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, March 5th. Oppenheimer boosted their price objective on shares of CrowdStrike from $365.00 to $410.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. HSBC cut shares of CrowdStrike from a “buy” rating to a “hold” rating and set a $347.00 target price on the stock. in a report on Wednesday, November 27th. Finally, Guggenheim reiterated a “neutral” rating on shares of CrowdStrike in a report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $398.78.

CrowdStrike Stock Performance

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 stock has a fifty day simple moving average of $386.01 and a two-hundred day simple moving average of $340.21. The firm has a market capitalization of $81.22 billion, a P/E ratio of 646.58, a P/E/G ratio of 17.86 and a beta of 1.19.

Insider Activity

In related news, CEO George Kurtz sold 18,071 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $359.70, for a total transaction of $6,500,138.70. Following the transaction, the chief executive officer now directly owns 2,159,935 shares of the company’s stock, valued at $776,928,619.50. This represents a 0.83 % decrease in their ownership of the stock. 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 1,863 shares of CrowdStrike stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $358.46, for a total transaction of $667,810.98. Following the completion of the sale, the chief accounting officer now directly owns 41,059 shares of the company’s stock, valued at approximately $14,718,009.14. This trade represents a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 100,315 shares of company stock worth $38,387,254 in the last quarter. 4.34% of the stock is owned by corporate insiders.

Institutional Trading of CrowdStrike

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new position in shares of CrowdStrike during the fourth quarter valued at about $1,111,542,000. Pathstone Holdings LLC lifted its position in CrowdStrike by 379.0% in 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. Jennison Associates LLC boosted its stake in CrowdStrike by 25.0% during the 3rd quarter. Jennison Associates LLC now owns 5,068,800 shares of the company’s stock valued at $1,421,646,000 after purchasing an additional 1,013,161 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in CrowdStrike by 1,655.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 755,951 shares of the company’s stock worth $212,021,000 after purchasing an additional 712,900 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of CrowdStrike in the fourth quarter worth approximately $237,375,000. Institutional investors 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.