CrowdStrike (NASDAQ:CRWD) Shares Down 1.1% – Here’s What Happened

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) traded down 1.1% during trading on Tuesday . The company traded as low as $275.35 and last traded at $277.46. 811,060 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 5,301,589 shares. The stock had previously closed at $280.47.

Analyst Ratings Changes

Several equities analysts recently weighed in on CRWD shares. Robert W. Baird cut their price target on shares of CrowdStrike from $335.00 to $315.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. Redburn Atlantic cut shares of CrowdStrike from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $380.00 to $275.00 in a report on Thursday, July 18th. Wells Fargo & Company lowered their price target on shares of CrowdStrike from $435.00 to $350.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. KeyCorp lifted their price objective on CrowdStrike from $300.00 to $345.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on CrowdStrike from $350.00 to $275.00 and set a “hold” rating on the stock in a research note on Monday, August 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $326.50.

CrowdStrike Stock Performance

The firm’s 50 day moving average price is $260.52 and its two-hundred day moving average price is $310.06. The firm has a market cap of $69.05 billion, a PE ratio of 532.23, a PEG ratio of 19.60 and a beta of 1.09. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.90 and a current ratio of 1.90.

CrowdStrike (NASDAQ:CRWD) last announced its earnings results on Wednesday, August 28th. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.07. The company had revenue of $963.87 million during the quarter, compared to analyst estimates of $958.27 million. CrowdStrike had a net margin of 4.84% and a return on equity of 8.44%. CrowdStrike’s revenue was up 31.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.06 earnings per share. On average, research analysts forecast that CrowdStrike Holdings, Inc. will post 0.53 earnings per share for the current year.

Insider Activity

In other CrowdStrike news, CAO Anurag Saha sold 1,683 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $297.28, for a total transaction of $500,322.24. Following the sale, the chief accounting officer now directly owns 38,962 shares in the company, valued at $11,582,623.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other CrowdStrike news, CAO Anurag Saha sold 1,683 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $297.28, for a total value of $500,322.24. Following the completion of the transaction, the chief accounting officer now owns 38,962 shares in the company, valued at $11,582,623.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO George Kurtz sold 55,325 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $296.62, for a total value of $16,410,501.50. Following the completion of the sale, the chief executive officer now owns 1,109,746 shares in the company, valued at $329,172,858.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 96,962 shares of company stock valued at $28,774,798. 4.34% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CrowdStrike

Institutional investors and hedge funds have recently made changes to their positions in the stock. Abich Financial Wealth Management LLC purchased a new position in CrowdStrike in the second quarter worth approximately $25,000. Trivant Custom Portfolio Group LLC purchased a new stake in shares of CrowdStrike during the 1st quarter worth $30,000. Family Firm Inc. acquired a new position in shares of CrowdStrike during the second quarter worth $30,000. Northwest Bank & Trust Co purchased a new position in CrowdStrike in the fourth quarter valued at $32,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in CrowdStrike in the first quarter valued at $32,000. 71.16% of the stock is owned by institutional investors and hedge funds.

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.