CrowdStrike (NASDAQ:CRWD) Shares Down 3.7% - Here's Why

CrowdStrike (NASDAQ:CRWD - Get Free Report) was down 3.7% during mid-day trading on Thursday . The stock traded as low as $490.55 and last traded at $494.52. Approximately 1,395,662 shares changed hands during 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 Analyst Weigh In

Several analysts have recently issued reports on CRWD shares. Needham & Company LLC boosted their price objective on shares of CrowdStrike from $420.00 to $530.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. DA Davidson upped their price objective on shares of CrowdStrike from $415.00 to $530.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Cfra reissued a "hold" rating and issued a $555.00 price objective (up from $517.00) on shares of CrowdStrike in a research report on Thursday. Wells Fargo & Company upped their target price on shares of CrowdStrike from $430.00 to $550.00 and gave the company an "overweight" rating in a research note on Monday, June 2nd. Finally, Truist Financial restated a "buy" rating and issued a $500.00 target price (up previously from $450.00) on shares of CrowdStrike in a research note on Wednesday, June 4th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $456.29.

CrowdStrike Stock Down 5.1%

The firm's fifty day moving average price is $469.44 and its 200-day moving average price is $409.94. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.85 and a quick ratio of 1.85. The firm has a market capitalization of $121.41 billion, a P/E ratio of -705.96 and a beta of 1.16.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last posted its quarterly earnings data on Tuesday, June 3rd. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.07. The business 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%. The business's revenue was up 19.8% on a year-over-year basis. During the same period last year, the firm posted $0.93 earnings per share. As a group, equities research analysts forecast that CrowdStrike will post 0.55 earnings per share for the current year.

Insider Activity

In related news, Director Sameer K. Gandhi sold 6,250 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $512.43, for a total transaction of $3,202,687.50. Following the completion of the sale, the director directly owned 781,011 shares in the company, valued at approximately $400,213,466.73. This trade represents a 0.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Burt W. Podbere sold 10,714 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $469.49, for a total transaction of $5,030,115.86. Following the completion of the transaction, the chief financial officer directly owned 239,008 shares of the company's stock, valued at $112,211,865.92. This represents a 4.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 255,821 shares of company stock valued at $118,672,681 in the last ninety days. 3.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On CrowdStrike

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRWD. Cloud Capital Management LLC acquired a new position in CrowdStrike in the 1st quarter worth approximately $25,000. Atlantic Edge Private Wealth Management LLC boosted its stake in CrowdStrike by 114.3% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 75 shares of the company's stock worth $26,000 after purchasing an additional 40 shares during the period. Vision Financial Markets LLC acquired a new position in CrowdStrike in the 1st quarter worth approximately $26,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in CrowdStrike by 305.3% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 77 shares of the company's stock worth $27,000 after purchasing an additional 58 shares during the period. Finally, Neo Ivy Capital Management acquired a new position in CrowdStrike in the 1st quarter worth approximately $30,000. Institutional investors and hedge funds 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.