CrowdStrike (NASDAQ:CRWD) Shares Gap Down After Insider Selling

CrowdStrike Holdings, Inc. (NASDAQ:CRWD - Get Free Report) shares gapped down prior to trading on Wednesday following insider selling activity. The stock had previously closed at $488.76, but opened at $454.75. CrowdStrike shares last traded at $463.93, with a volume of 4,560,123 shares.

Specifically, Director Gerhard Watzinger sold 10,000 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $489.00, for a total value of $4,890,000.00. Following the transaction, the director now owns 29,500 shares of the company's stock, valued at $14,425,500. This represents a 25.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Sameer K. Gandhi sold 6,250 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $484.59, for a total transaction of $3,028,687.50. Following the sale, the director now owns 755,592 shares of the company's stock, valued at $366,152,327.28. This represents a 0.82% decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

CRWD has been the subject of a number of research analyst reports. Piper Sandler upped their target price on CrowdStrike from $400.00 to $505.00 and gave the company an "overweight" rating in a research report on Wednesday. Royal Bank of Canada lifted their price target on CrowdStrike from $500.00 to $510.00 and gave the company an "outperform" rating in a research note on Wednesday. Scotiabank lifted their price target on shares of CrowdStrike from $370.00 to $480.00 and gave the company a "sector perform" rating in a research report on Wednesday. Mizuho lifted their price target on CrowdStrike from $425.00 to $450.00 and gave the stock a "neutral" rating in a research note on Wednesday. Finally, Westpark Capital reiterated a "hold" rating on shares of CrowdStrike in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-eight have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $450.43.

CrowdStrike Trading Up 1.2%

The business's 50-day moving average is $415.18 and its two-hundred day moving average is $388.02. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $116.11 billion, a PE ratio of 918.47, a PEG ratio of 17.86 and a beta of 1.22.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last posted its earnings results on Tuesday, June 3rd. The company reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.07. The business had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.11 billion. CrowdStrike had a net margin of 3.39% and a return on equity of 7.11%. The business's revenue for the quarter was up 19.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.93 earnings per share. On average, analysts predict that CrowdStrike Holdings, Inc. will post 0.55 earnings per share for the current year.

Institutional Investors Weigh In On CrowdStrike

A number of hedge funds have recently bought and sold shares of the business. Primoris Wealth Advisors LLC bought a new position in shares of CrowdStrike during the fourth quarter worth about $2,166,000. Arcadia Investment Management Corp MI increased its holdings in shares of CrowdStrike by 30.8% in the 4th quarter. Arcadia Investment Management Corp MI now owns 11,954 shares of the company's stock worth $4,090,000 after acquiring an additional 2,814 shares during the period. Trifecta Capital Advisors LLC increased its stake in shares of CrowdStrike by 2,140.3% in the fourth quarter. Trifecta Capital Advisors LLC now owns 8,961 shares of the company's stock valued at $3,066,000 after purchasing an additional 8,561 shares during the period. Delta Financial Group Inc. bought a new stake in CrowdStrike during the 4th quarter valued at $336,000. Finally, Marshall Investment Management LLC acquired a new stake in CrowdStrike in the fourth quarter worth about $2,494,000. Institutional investors and hedge funds own 71.16% of the company's stock.

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.