CrowdStrike (NASDAQ:CRWD) Shares Down 1% - Here's What Happened

Key Points

• CrowdStrike's shares fell 1% during mid-day trading, hitting a low of $438.09 before closing at $449.99, with trading volume at 1,223,012 shares, significantly down from the average of 3,763,936 shares.
• Analysts have raised price targets for CrowdStrike, with Wall Street firms like Wedbush increasing their target from $475 to $525, while the general consensus suggests an average price target of $461.17.
• Despite a 19.8% year-over-year revenue increase to $1.10 billion, CrowdStrike reported a slight earnings beat with $0.73 EPS against an estimate of $0.66, yet experienced a negative net margin of 4.17% for the quarter.

CrowdStrike (NASDAQ:CRWD - Get Free Report) shares fell 1% during mid-day trading on Friday . The stock traded as low as $438.09 and last traded at $449.99. 1,223,012 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 3,763,936 shares. The stock had previously closed at $454.57.

Analysts Set New Price Targets

Several research firms recently issued reports on CRWD. UBS Group restated a "buy" rating on shares of CrowdStrike in a research note on Tuesday, June 3rd. Wedbush boosted their price target on CrowdStrike from $475.00 to $525.00 and gave the stock an "outperform" rating in a report on Tuesday, June 3rd. Raymond James Financial restated an "outperform" rating and set a $485.00 price objective (up previously from $390.00) on shares of CrowdStrike in a research report on Wednesday, June 4th. Mizuho upped their price target on CrowdStrike from $425.00 to $450.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Finally, Stifel Nicolaus upped their target price on CrowdStrike from $480.00 to $495.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and twenty-six have given a buy rating to the company's stock. According to MarketBeat, CrowdStrike has an average rating of "Moderate Buy" and an average price target of $461.17.

CrowdStrike Stock Performance

The firm has a market capitalization of $111.74 billion, a P/E ratio of -648.85 and a beta of 1.16. The company's 50 day moving average is $479.69 and its 200-day moving average is $421.79. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.21.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.07. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. CrowdStrike had a positive return on equity of 0.43% and a negative net margin of 4.17%. The business's revenue for the quarter was up 19.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.93 EPS. As a group, equities analysts anticipate that CrowdStrike will post 0.55 EPS for the current year.

Insider Activity

In other CrowdStrike news, CAO Anurag Saha sold 1,768 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $491.77, for a total transaction of $869,449.36. Following the completion of the transaction, the chief accounting officer owned 41,251 shares in the company, valued at $20,286,004.27. This trade represents a 4.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Sameer K. Gandhi sold 6,250 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $512.43, for a total value of $3,202,687.50. Following the sale, the director directly owned 781,011 shares of the company's stock, valued at $400,213,466.73. This represents a 0.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 235,570 shares of company stock valued at $110,581,672 in the last three months. 3.32% of the stock is currently owned by insiders.

Institutional Trading of CrowdStrike

Several large investors have recently added to or reduced their stakes in the company. Cloud Capital Management LLC acquired a new stake in shares of CrowdStrike in the first quarter valued at approximately $25,000. Atlantic Edge Private Wealth Management LLC boosted its holdings in CrowdStrike by 114.3% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 75 shares of the company's stock valued at $26,000 after purchasing an additional 40 shares during the period. Vision Financial Markets LLC purchased a new position in CrowdStrike in the first quarter valued at $26,000. AlphaQuest LLC purchased a new position in CrowdStrike in the second quarter valued at $26,000. Finally, E Fund Management Hong Kong Co. Ltd. raised its stake in CrowdStrike by 305.3% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 77 shares of the company's stock valued at $27,000 after buying an additional 58 shares in the last quarter. Hedge funds and other 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.

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