CrowdStrike (NASDAQ:CRWD) Stock Price Down 3.7% - Time to Sell?

CrowdStrike (NASDAQ:CRWD - Get Free Report) was down 3.7% during trading on Thursday . The stock traded as low as $490.55 and last traded at $494.52. Approximately 1,395,662 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 4,763,960 shares. The stock had previously closed at $513.51.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CRWD. Susquehanna lifted their price objective on CrowdStrike from $425.00 to $530.00 and gave the company a "positive" rating in a research report on Wednesday, June 4th. Wedbush upped their price target on CrowdStrike from $475.00 to $525.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 3rd. UBS Group reaffirmed a "buy" rating on shares of CrowdStrike in a report on Tuesday, June 3rd. Citigroup reiterated an "outperform" rating on shares of CrowdStrike in a research report on Monday, May 5th. Finally, Cfra reaffirmed a "hold" rating and set a $555.00 price target (up previously from $517.00) on shares of CrowdStrike in a research note on Thursday. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twenty-seven have given a buy rating to the company's stock. Based on data from MarketBeat, CrowdStrike presently has a consensus rating of "Moderate Buy" and a consensus target price of $456.29.

CrowdStrike Trading Down 1.8%

The company has a fifty day moving average of $469.44 and a 200-day moving average of $409.94. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $119.25 billion, a price-to-earnings ratio of -693.41 and a beta of 1.16.

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

Insider Transactions at CrowdStrike

In other news, President Michael Sentonas sold 25,000 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $477.00, for a total transaction of $11,925,000.00. Following the sale, the president owned 422,204 shares of the company's stock, valued at $201,391,308. The trade was a 5.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Denis Oleary sold 15,680 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $468.93, for a total transaction of $7,352,822.40. Following the completion of the sale, the director owned 36,906 shares in the company, valued at $17,306,330.58. This represents a 29.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 255,821 shares of company stock worth $118,672,681. Insiders own 3.32% of the company's stock.

Hedge Funds Weigh In On CrowdStrike

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in CrowdStrike by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 22,834,565 shares of the company's stock worth $8,051,011,000 after acquiring an additional 908,554 shares during the period. Jennison Associates LLC raised its holdings in shares of CrowdStrike by 21.1% during the first quarter. Jennison Associates LLC now owns 6,565,275 shares of the company's stock valued at $2,314,785,000 after buying an additional 1,144,295 shares during the last quarter. Geode Capital Management LLC lifted its holdings in CrowdStrike by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 5,018,441 shares of the company's stock worth $1,712,063,000 after purchasing an additional 124,984 shares during the period. Norges Bank bought a new position in CrowdStrike during the 4th quarter valued at $1,111,542,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of CrowdStrike by 52.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,771,424 shares of the company's stock valued at $977,149,000 after purchasing an additional 955,529 shares during the period. 71.16% of the stock is currently 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.