CrowdStrike (NASDAQ:CRWD) Trading Down 4.1% – Here’s What Happened

CrowdStrike (NASDAQ:CRWD)’s share price dropped 4.1% during mid-day trading on Monday . The company traded as low as $423.77 and last traded at $423.84. Approximately 3,611,727 shares were traded during trading, a decline of 9% from the average daily volume of 3,970,131 shares. The stock had previously closed at $441.78.

Analysts Set New Price Targets

Several research firms recently issued reports on CRWD. Canaccord Genuity Group decreased their price objective on shares of CrowdStrike from $515.00 to $400.00 and set a “hold” rating for the company in a report on Wednesday, March 4th. Daiwa Securities Group dropped their target price on shares of CrowdStrike from $560.00 to $500.00 and set an “outperform” rating on the stock in a report on Tuesday, March 10th. Wells Fargo & Company assumed coverage on shares of CrowdStrike in a report on Tuesday, March 3rd. They set an “overweight” rating and a $450.00 price target for the company. Wedbush reaffirmed an “outperform” rating and issued a $550.00 price target on shares of CrowdStrike in a research report on Wednesday, March 4th. Finally, Truist Financial dropped their price objective on CrowdStrike from $600.00 to $550.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $506.26.

CrowdStrike Trading Down 4.1%

The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.77 and a current ratio of 1.77. The company’s 50 day moving average is $428.62 and its 200 day moving average is $470.00. The stock has a market capitalization of $107.49 billion, a price-to-earnings ratio of -572.75, a PEG ratio of 19.38 and a beta of 1.07.

CrowdStrike (NASDAQ:CRWD) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.02. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. CrowdStrike had a negative net margin of 3.81% and a negative return on equity of 0.14%. The business’s revenue was up 23.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.03 EPS. On average, research analysts forecast that CrowdStrike will post 0.55 EPS for the current fiscal year.

Insider Activity

In other CrowdStrike news, President Michael Sentonas sold 11,461 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $479.78, for a total value of $5,498,758.58. Following the completion of the sale, the president owned 342,655 shares in the company, valued at approximately $164,399,015.90. This trade represents a 3.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO George Kurtz sold 28,853 shares of CrowdStrike stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $413.01, for a total value of $11,916,577.53. Following the sale, the chief executive officer directly owned 2,054,902 shares in the company, valued at $848,695,075.02. The trade was a 1.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 90,024 shares of company stock valued at $40,424,241. Corporate insiders own 3.32% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Osbon Capital Management LLC acquired a new position in shares of CrowdStrike in the 4th quarter valued at $434,000. Spear Advisors LLC acquired a new stake in shares of CrowdStrike during the 4th quarter valued at about $3,513,000. World Investment Advisors boosted its position in shares of CrowdStrike by 37.6% during the 4th quarter. World Investment Advisors now owns 8,833 shares of the company’s stock valued at $4,141,000 after acquiring an additional 2,412 shares in the last quarter. Meadowbrook Advisors Group LLC bought a new stake in CrowdStrike in the fourth quarter valued at about $607,000. Finally, Green Ridge Wealth Planning LLC bought a new stake in CrowdStrike in the fourth quarter valued at about $522,000. 71.16% of the stock is owned by institutional investors.

CrowdStrike Company Profile

CrowdStrike Holdings, Inc (NASDAQ: CRWD) is a cybersecurity company founded in 2011 and headquartered in Sunnyvale, California. The firm was co-founded by George Kurtz and Dmitri Alperovitch and became a publicly traded company following its initial public offering in 2019. CrowdStrike positions itself as a provider of cloud-native security solutions designed to protect endpoints, cloud workloads, identities and data against sophisticated cyber threats.

The company’s core offering is the CrowdStrike Falcon platform, a modular, cloud-delivered security architecture that combines endpoint protection (EPP), endpoint detection and response (EDR), threat intelligence, and device control through lightweight agents and centralized telemetry.