CrowdStrike (NASDAQ:CRWD) Stock Price Down 0.9% on Insider Selling

CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s share price was down 0.9% on Tuesday following insider selling activity. The stock traded as low as $311.65 and last traded at $314.94. Approximately 1,045,630 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 3,449,666 shares. The stock had previously closed at $317.81.

Specifically, CEO George Kurtz sold 78,080 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $326.78, for a total transaction of $25,514,982.40. Following the completion of the transaction, the chief executive officer now directly owns 1,148,102 shares of the company’s stock, valued at approximately $375,176,771.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Anurag Saha sold 1,019 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $325.80, for a total transaction of $331,990.20. Following the transaction, the chief accounting officer now owns 36,136 shares of the company’s stock, valued at approximately $11,773,108.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO George Kurtz sold 78,080 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $326.78, for a total value of $25,514,982.40. Following the sale, the chief executive officer now owns 1,148,102 shares of the company’s stock, valued at $375,176,771.56. The disclosure for this sale can be found here. Insiders sold a total of 295,576 shares of company stock valued at $94,052,850 in the last ninety days. 5.68% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CRWD shares. Jefferies Financial Group raised their price target on CrowdStrike from $375.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. The Goldman Sachs Group upped their target price on shares of CrowdStrike from $222.00 to $370.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Guggenheim lifted their target price on shares of CrowdStrike from $358.00 to $424.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Piper Sandler upped their price target on CrowdStrike from $300.00 to $400.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. Finally, HSBC increased their target price on CrowdStrike from $411.00 to $412.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. One analyst has rated the stock with a hold rating and thirty-seven have given a buy rating to the stock. Based on data from MarketBeat.com, CrowdStrike currently has a consensus rating of “Moderate Buy” and an average target price of $371.87.

CrowdStrike Stock Down 1.7 %

The company has a market capitalization of $75.60 billion, a price-to-earnings ratio of 868.22, a price-to-earnings-growth ratio of 12.41 and a beta of 1.08. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average of $313.23 and a 200-day moving average of $275.18.

CrowdStrike (NASDAQ:CRWD) last released its earnings results on Tuesday, March 5th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.06. CrowdStrike had a net margin of 2.92% and a return on equity of 6.09%. The company had revenue of $845.34 million for the quarter, compared to the consensus estimate of $839.08 million. On average, equities analysts predict that CrowdStrike Holdings, Inc. will post 1.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CrowdStrike

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of CrowdStrike by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 15,746,120 shares of the company’s stock worth $4,020,299,000 after acquiring an additional 1,028,405 shares during the period. Jennison Associates LLC increased its position in shares of CrowdStrike by 33.2% in the fourth quarter. Jennison Associates LLC now owns 6,340,819 shares of the company’s stock valued at $1,618,938,000 after buying an additional 1,581,796 shares in the last quarter. Morgan Stanley increased its position in shares of CrowdStrike by 124.4% in the third quarter. Morgan Stanley now owns 4,973,809 shares of the company’s stock valued at $832,516,000 after buying an additional 2,757,251 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of CrowdStrike by 17.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,768,332 shares of the company’s stock valued at $463,482,000 after buying an additional 419,619 shares in the last quarter. Finally, Norges Bank purchased a new stake in CrowdStrike in the 4th quarter worth $683,336,000. 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.