CrowdStrike (NASDAQ:CRWD) Shares Down 4% - Here's What Happened

CrowdStrike Holdings, Inc. (NASDAQ:CRWD - Get Free Report)'s share price fell 4% on Wednesday . The company traded as low as $445.26 and last traded at $468.98. 7,926,303 shares changed hands during trading, an increase of 54% from the average session volume of 5,141,019 shares. The stock had previously closed at $488.76.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CRWD. DA Davidson upped their price target on shares of CrowdStrike from $415.00 to $530.00 and gave the stock a "buy" rating in a research report on Wednesday. JMP Securities restated a "market outperform" rating and issued a $500.00 target price on shares of CrowdStrike in a research note on Wednesday. Royal Bank of Canada increased their price objective on shares of CrowdStrike from $500.00 to $510.00 and gave the stock an "outperform" rating in a research note on Wednesday. Westpark Capital restated a "hold" rating on shares of CrowdStrike in a research report on Thursday. Finally, Piper Sandler increased their price objective on shares of CrowdStrike from $400.00 to $505.00 and gave the company an "overweight" rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $449.38.

CrowdStrike Stock Performance

The stock has a market cap of $114.75 billion, a PE ratio of 907.74, a price-to-earnings-growth ratio of 17.86 and a beta of 1.22. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.24. The firm has a 50 day moving average price of $410.85 and a 200 day moving average price of $386.40.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last issued 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 return on equity of 7.11% and a net margin of 3.39%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the company earned $0.93 earnings per share. The firm's revenue for the quarter was up 19.8% compared to the same quarter last year. As a group, research analysts forecast that CrowdStrike Holdings, Inc. will post 0.55 earnings per share for the current year.

Insider Transactions at CrowdStrike

In other news, CFO Burt W. Podbere sold 13,529 shares of CrowdStrike stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $358.10, for a total value of $4,844,734.90. Following the sale, the chief financial officer now directly owns 244,739 shares of the company's stock, valued at $87,641,035.90. The trade was a 5.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Anurag Saha sold 1,496 shares of CrowdStrike stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $358.62, for a total value of $536,495.52. Following the completion of the sale, the chief accounting officer now directly owns 36,165 shares in the company, valued at $12,969,492.30. This represents a 3.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 211,681 shares of company stock worth $87,081,236 over the last three months. 3.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CrowdStrike

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cloud Capital Management LLC acquired a new position in CrowdStrike during the first quarter worth $25,000. Vision Financial Markets LLC acquired a new position in CrowdStrike during the first quarter worth $26,000. Atlantic Edge Private Wealth Management LLC boosted its stake in CrowdStrike by 114.3% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 75 shares of the company's stock worth $26,000 after buying an additional 40 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its stake in CrowdStrike by 305.3% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 77 shares of the company's stock worth $27,000 after buying an additional 58 shares during the last quarter. Finally, FPC Investment Advisory Inc. lifted its stake in shares of CrowdStrike by 811.1% in the 4th quarter. FPC Investment Advisory Inc. now owns 82 shares of the company's stock valued at $28,000 after purchasing an additional 73 shares during the last quarter. 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.