CrowdStrike (NASDAQ:CRWD) Stock Price Down 7.2% After Insider Selling

Shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) fell 7.2% on Friday after an insider sold shares in the company. The stock traded as low as $310.31 and last traded at $322.54. 2,097,115 shares changed hands during trading, a decline of 57% from the average session volume of 4,899,311 shares. The stock had previously closed at $347.39.

Specifically, Director Gerhard Watzinger sold 10,000 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $359.57, for a total value of $3,595,700.00. Following the completion of the transaction, the director now owns 62,891 shares of the company’s stock, valued at approximately $22,613,716.87. This represents a 13.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CRWD shares. Evercore ISI lifted their price objective on shares of CrowdStrike from $400.00 to $450.00 and gave the company an “outperform” rating in a research note on Wednesday, March 5th. Stephens initiated coverage on shares of CrowdStrike in a research note on Tuesday. They issued an “overweight” rating and a $450.00 price target for the company. Citigroup reiterated a “buy” rating on shares of CrowdStrike in a report on Wednesday, February 5th. Truist Financial dropped their target price on CrowdStrike from $460.00 to $450.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Finally, Stifel Nicolaus decreased their price target on CrowdStrike from $475.00 to $435.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $400.88.

CrowdStrike Stock Down 7.4 %

The business has a fifty day moving average price of $386.18 and a two-hundred day moving average price of $351.38. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.24. The company has a market cap of $79.72 billion, a price-to-earnings ratio of 630.66, a P/E/G ratio of 17.86 and a beta of 1.28.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Moody National Bank Trust Division grew its holdings in shares of CrowdStrike by 4.7% during the 1st quarter. Moody National Bank Trust Division now owns 3,417 shares of the company’s stock valued at $1,205,000 after acquiring an additional 152 shares in the last quarter. Legacy Wealth Management LLC MS acquired a new stake in CrowdStrike during the first quarter valued at $283,000. Kera Capital Partners Inc. grew its stake in CrowdStrike by 4.2% in the first quarter. Kera Capital Partners Inc. now owns 874 shares of the company’s stock valued at $308,000 after purchasing an additional 35 shares in the last quarter. Modus Advisors LLC increased its position in CrowdStrike by 12.6% in the 1st quarter. Modus Advisors LLC now owns 6,493 shares of the company’s stock worth $2,289,000 after purchasing an additional 727 shares during the last quarter. Finally, Neville Rodie & Shaw Inc. raised its stake in shares of CrowdStrike by 16.5% during the 1st quarter. Neville Rodie & Shaw Inc. now owns 6,618 shares of the company’s stock worth $2,333,000 after purchasing an additional 935 shares in the last quarter. Institutional investors and hedge funds 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.