CrowdStrike (NASDAQ:CRWD) Stock Price Down 2.1% - Here's What Happened

Key Points

• CrowdStrike's stock price fell by 2.1%, with shares trading around $445.20 and a significant drop in trading volume compared to the average.
• Analysts have mixed reviews on CrowdStrike, with Oppenheimer raising its price target to $520 and 26 analysts issuing a "buy" rating, although the overall consensus remains at "Moderate Buy" with a target of $461.17.
• Insider trading activity showed significant sales, with President Michael Sentonas selling 25,000 shares valued at nearly $11.93 million, indicating a reduction in insider ownership.

Shares of CrowdStrike (NASDAQ:CRWD - Get Free Report) fell 2.1% during mid-day trading on Tuesday . The stock traded as low as $444.58 and last traded at $445.20. 699,479 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 3,741,437 shares. The stock had previously closed at $454.86.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CRWD shares. Oppenheimer boosted their price target on shares of CrowdStrike from $410.00 to $520.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. UBS Group reaffirmed a "buy" rating on shares of CrowdStrike in a research note on Tuesday, June 3rd. Mizuho lifted their price target on shares of CrowdStrike from $425.00 to $450.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Stifel Nicolaus lifted their price objective on shares of CrowdStrike from $480.00 to $495.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $500.00 target price on shares of CrowdStrike in a research note on Wednesday, June 4th. One analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $461.17.

CrowdStrike Stock Down 3.1%

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 firm has a market capitalization of $109.84 billion, a P/E ratio of -637.81 and a beta of 1.13. The company's fifty day simple moving average is $479.50 and its 200 day simple moving average is $423.99.

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

Insider Transactions at CrowdStrike

In other CrowdStrike news, President Michael Sentonas sold 25,000 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $477.00, for a total transaction of $11,925,000.00. Following the transaction, the president owned 422,204 shares in the company, valued at $201,391,308. The trade was a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Denis Oleary sold 15,680 shares of the company's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $468.93, for a total transaction of $7,352,822.40. Following the completion of the transaction, the director owned 36,906 shares in the company, valued at approximately $17,306,330.58. The trade was a 29.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 154,014 shares of company stock valued at $74,238,060. 3.32% of the stock is owned by corporate insiders.

Institutional Trading of CrowdStrike

Several hedge funds have recently modified their holdings of CRWD. AlphaQuest LLC acquired a new stake in CrowdStrike in the 2nd quarter valued at $26,000. Financial Management Professionals Inc. raised its holdings in shares of CrowdStrike by 91.9% during the 2nd quarter. Financial Management Professionals Inc. now owns 71 shares of the company's stock worth $36,000 after acquiring an additional 34 shares during the period. Wealth Watch Advisors INC purchased a new stake in CrowdStrike in the 2nd quarter valued at about $37,000. Cloud Capital Management LLC acquired a new position in CrowdStrike in the 1st quarter valued at about $25,000. Finally, Vision Financial Markets LLC acquired a new position in shares of CrowdStrike during the first quarter worth about $26,000. 71.16% of the stock is owned by hedge funds and other 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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