CrowdStrike (NASDAQ:CRWD) Shares Down 4.2% After Insider Selling

CrowdStrike Holdings, Inc. (NASDAQ:CRWD - Get Free Report)'s stock price was down 4.2% during trading on Wednesday following insider selling activity. The company traded as low as $417.06 and last traded at $424.74. Approximately 2,547,984 shares traded hands during trading, a decline of 50% from the average daily volume of 5,053,086 shares. The stock had previously closed at $443.21.

Specifically, CFO Burt W. Podbere sold 16,000 shares of the business's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $436.88, for a total value of $6,990,080.00. Following the completion of the sale, the chief financial officer now owns 249,653 shares of the company's stock, valued at approximately $109,068,402.64. The trade was a 6.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gerhard Watzinger sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $449.00, for a total value of $4,490,000.00. Following the completion of the transaction, the director now owns 49,500 shares of the company's stock, valued at approximately $22,225,500. The trade was a 16.81 % decrease in their position. The disclosure for this sale can be found here. In other news, CEO George Kurtz sold 55,556 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $447.54, for a total value of $24,863,532.24. Following the sale, the chief executive officer now directly owns 2,192,610 shares of the company's stock, valued at approximately $981,280,679.40. This represents a 2.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Analyst Upgrades and Downgrades

CRWD has been the topic of several recent analyst reports. Robert W. Baird reduced their price objective on shares of CrowdStrike from $440.00 to $405.00 and set a "neutral" rating for the company in a research note on Wednesday, March 5th. Canaccord Genuity Group boosted their price objective on shares of CrowdStrike from $370.00 to $420.00 and gave the stock a "buy" rating in a report on Monday, March 3rd. Susquehanna lifted their target price on CrowdStrike from $400.00 to $425.00 and gave the stock a "positive" rating in a report on Wednesday, March 5th. Westpark Capital reaffirmed a "hold" rating on shares of CrowdStrike in a report on Wednesday, March 5th. Finally, Roth Capital initiated coverage on shares of CrowdStrike in a research note on Wednesday, April 23rd. They issued a "buy" rating and a $410.00 price target for the company. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, thirty have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $403.20.

CrowdStrike Stock Performance

The firm has a market capitalization of $105.59 billion, a PE ratio of 835.60, a P/E/G ratio of 17.86 and a beta of 1.22. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.86 and a quick ratio of 1.86. The business has a 50-day simple moving average of $374.02 and a 200-day simple moving average of $367.80.

Hedge Funds Weigh In On CrowdStrike

Hedge funds have recently added to or reduced their stakes in the company. Cloud Capital Management LLC bought a new stake in shares of CrowdStrike during the first quarter valued at approximately $25,000. Atlantic Edge Private Wealth Management LLC increased its stake in CrowdStrike by 114.3% during the 1st 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 in the last quarter. Berbice Capital Management LLC acquired a new position in shares of CrowdStrike in the fourth quarter valued at about $27,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in CrowdStrike by 305.3% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 77 shares of the company's stock valued at $27,000 after acquiring an additional 58 shares during the period. Finally, Fortitude Family Office LLC boosted its holdings in CrowdStrike by 112.8% in the fourth quarter. Fortitude Family Office LLC now owns 83 shares of the company's stock valued at $28,000 after purchasing an additional 44 shares during the last quarter. 71.16% of the stock is currently owned by institutional investors.

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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