CrowdStrike (NASDAQ:CRWD) Shares Down 1.9% - What's Next?

Key Points

• CrowdStrike's stock (NASDAQ:CRWD) declined by 1.9% during mid-day trading, with the latest price at $423.90, significantly lower than the previous close of $432.12.
• Multiple research firms have raised their price targets for CrowdStrike, with Rosenblatt Securities setting a new price objective of $515 and an overall consensus rating of "Moderate Buy" with an average target price of $461.17.
• Insider trading activity has been notable, with CFO Burt W. Podbere and CEO George Kurtz selling substantial shares, indicating a decrease in their ownership positions by 4.89% and 1.94%, respectively.

CrowdStrike (NASDAQ:CRWD - Get Free Report)'s stock price was down 1.9% during mid-day trading on Thursday . The stock traded as low as $426.07 and last traded at $423.90. Approximately 727,082 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 3,714,377 shares. The stock had previously closed at $432.12.

Analysts Set New Price Targets

Several research analysts recently issued reports on CRWD shares. Rosenblatt Securities increased their price objective on CrowdStrike from $450.00 to $515.00 and gave the stock a "buy" rating in a research note on Monday, June 2nd. Stifel Nicolaus increased their price objective on CrowdStrike from $480.00 to $495.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Scotiabank increased their price objective on CrowdStrike from $370.00 to $480.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. Roth Capital increased their price objective on CrowdStrike from $410.00 to $420.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $485.00 price objective (up previously from $390.00) on shares of CrowdStrike in a research note on Wednesday, June 4th. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating and twenty-six have issued a buy rating to the company's stock. Based on data from MarketBeat, CrowdStrike currently has an average rating of "Moderate Buy" and an average target price of $461.17.

CrowdStrike Trading Down 1.6%

The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.85 and a current ratio of 1.85. The company has a 50 day moving average of $474.36 and a two-hundred day moving average of $426.30. The stock has a market cap of $105.97 billion, a PE ratio of -616.14 and a beta of 1.13.

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

Insider Buying and Selling

In related news, CFO Burt W. Podbere sold 11,883 shares of CrowdStrike stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $455.47, for a total value of $5,412,350.01. Following the sale, the chief financial officer directly owned 231,130 shares in the company, valued at approximately $105,272,781.10. The trade was a 4.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO George Kurtz sold 42,267 shares of CrowdStrike stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $450.47, for a total value of $19,040,015.49. Following the completion of the sale, the chief executive officer owned 2,132,887 shares in the company, valued at approximately $960,801,606.89. The trade was a 1.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 214,414 shares of company stock worth $101,484,738 in the last quarter. 3.32% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC lifted its holdings in CrowdStrike by 44.9% in the fourth quarter. Brighton Jones LLC now owns 7,803 shares of the company's stock valued at $2,670,000 after acquiring an additional 2,417 shares during the last quarter. CreativeOne Wealth LLC lifted its holdings in CrowdStrike by 28.5% in the fourth quarter. CreativeOne Wealth LLC now owns 5,994 shares of the company's stock valued at $2,051,000 after acquiring an additional 1,331 shares during the last quarter. Bridgewater Associates LP acquired a new position in CrowdStrike in the fourth quarter valued at approximately $4,600,000. Jump Financial LLC lifted its holdings in CrowdStrike by 53.2% in the fourth quarter. Jump Financial LLC now owns 1,924 shares of the company's stock valued at $658,000 after acquiring an additional 668 shares during the last quarter. Finally, Gabelli Funds LLC lifted its holdings in CrowdStrike by 0.8% in the fourth quarter. Gabelli Funds LLC now owns 85,560 shares of the company's stock valued at $29,275,000 after acquiring an additional 665 shares during the last quarter. 71.16% of the stock is currently owned by institutional investors and hedge funds.

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.

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