CrowdStrike (NASDAQ:CRWD) Trading Down 2.8% on Insider Selling

CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s share price fell 2.8% during trading on Friday following insider selling activity. The company traded as low as $349.55 and last traded at $353.20. 1,532,833 shares were traded during trading, a decline of 41% from the average session volume of 2,603,059 shares. The stock had previously closed at $363.38.

Specifically, insider Shawn Henry sold 4,000 shares of CrowdStrike stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $354.91, for a total transaction of $1,419,640.00. Following the transaction, the insider now owns 98,214 shares in the company, valued at $34,857,130.74. This trade represents a 3.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Hsbc Global Res lowered CrowdStrike from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 27th. Wedbush set a $330.00 price objective on shares of CrowdStrike in a research report on Thursday, October 17th. KeyCorp raised their price objective on CrowdStrike from $345.00 to $395.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. BNP Paribas started coverage on CrowdStrike in a research report on Tuesday, October 8th. They issued a “neutral” rating and a $285.00 target price on the stock. Finally, Morgan Stanley increased their price target on CrowdStrike from $325.00 to $355.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $366.38.

CrowdStrike Price Performance

The company has a market cap of $87.93 billion, a PE ratio of 700.01, a price-to-earnings-growth ratio of 18.55 and a beta of 1.14. The firm has a 50 day simple moving average of $355.86 and a 200-day simple moving average of $312.92. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.24.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Jennison Associates LLC raised its stake in CrowdStrike by 25.0% in the third quarter. Jennison Associates LLC now owns 5,068,800 shares of the company’s stock valued at $1,421,646,000 after buying an additional 1,013,161 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of CrowdStrike by 17,926.3% in the 3rd quarter. International Assets Investment Management LLC now owns 925,831 shares of the company’s stock valued at $259,668,000 after purchasing an additional 920,695 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in CrowdStrike by 1,655.9% in 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. Assenagon Asset Management S.A. grew its position in CrowdStrike by 248.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 521,198 shares of the company’s stock worth $146,180,000 after purchasing an additional 371,695 shares during the last quarter. Finally, State Street Corp increased its stake in CrowdStrike by 2.9% during the 3rd quarter. State Street Corp now owns 9,630,776 shares of the company’s stock valued at $2,701,144,000 after purchasing an additional 275,717 shares in the last quarter. Hedge funds and other institutional investors own 71.16% of the company’s stock.

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.