CrowdStrike (NASDAQ:CRWD) Stock Price Down 3.7% - What's Next?

CrowdStrike (NASDAQ:CRWD - Get Free Report)'s share price dropped 3.7% during mid-day trading on Thursday . The company 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.

Analyst Ratings Changes

CRWD has been the topic of a number of recent analyst reports. Bank of America reissued a "neutral" rating and issued a $470.00 price target (up previously from $420.00) on shares of CrowdStrike in a report on Wednesday, June 4th. Rosenblatt Securities raised their price target on shares of CrowdStrike from $450.00 to $515.00 and gave the stock a "buy" rating in a report on Monday, June 2nd. Truist Financial reissued a "buy" rating and issued a $500.00 price target (up previously from $450.00) on shares of CrowdStrike in a report on Wednesday, June 4th. Barclays set a $500.00 price target on shares of CrowdStrike in a report on Tuesday, June 3rd. Finally, DZ Bank lowered shares of CrowdStrike from a "strong-buy" rating to a "strong sell" rating and set a $370.00 price target on the stock. in a report on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty-seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $456.29.

CrowdStrike Price Performance

The stock has a market cap of $119.25 billion, a PE ratio of -693.41 and a beta of 1.16. The firm's fifty day moving average price is $470.20 and its 200 day moving average price is $411.35. 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 released its quarterly earnings results 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 company had revenue of $1.10 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.93 earnings per share. As a group, equities analysts expect that CrowdStrike will post 0.55 EPS for the current fiscal year.

Insider Activity at CrowdStrike

In related news, Director Roxanne S. Austin sold 9,447 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $512.65, for a total transaction of $4,843,004.55. Following the sale, the director owned 18,858 shares of the company's stock, valued at $9,667,553.70. This represents a 33.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Anurag Saha sold 1,768 shares of the stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $491.77, for a total transaction of $869,449.36. Following the completion of the sale, the chief accounting officer directly owned 41,251 shares in the company, valued at approximately $20,286,004.27. This represents a 4.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 255,821 shares of company stock valued at $118,672,681 over the last quarter. 3.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CrowdStrike

Hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Trust Inc. raised its stake in shares of CrowdStrike by 20.4% in the first quarter. Blue Trust Inc. now owns 1,267 shares of the company's stock valued at $447,000 after acquiring an additional 215 shares during the period. Primoris Wealth Advisors LLC purchased a new stake in shares of CrowdStrike in the fourth quarter valued at $2,166,000. OLD National Bancorp IN purchased a new stake in shares of CrowdStrike in the first quarter valued at $248,000. Bessemer Group Inc. raised its stake in shares of CrowdStrike by 4.6% in the first quarter. Bessemer Group Inc. now owns 2,221 shares of the company's stock valued at $783,000 after acquiring an additional 98 shares during the period. Finally, Financial Engines Advisors L.L.C. purchased a new stake in shares of CrowdStrike in the fourth quarter valued at $284,000. 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.