CrowdStrike (NASDAQ:CRWD) Stock Price Down 2.2% – Here’s Why

Shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) fell 2.2% on Monday . The stock traded as low as $339.61 and last traded at $341.30. 731,734 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 2,416,524 shares. The stock had previously closed at $348.84.

Analysts Set New Price Targets

Several brokerages recently weighed in on CRWD. Susquehanna increased their price target on CrowdStrike from $310.00 to $400.00 and gave the stock a “positive” rating in a report on Wednesday, November 27th. Wells Fargo & Company boosted their price target on shares of CrowdStrike from $350.00 to $400.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Jefferies Financial Group raised their price objective on shares of CrowdStrike from $415.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Needham & Company LLC increased their target price on CrowdStrike from $360.00 to $420.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Finally, Bank of America lifted their price target on CrowdStrike from $365.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $365.88.

CrowdStrike Stock Up 4.0 %

The company has a market capitalization of $89.17 billion, a price-to-earnings ratio of 709.86, a P/E/G ratio of 19.75 and a beta of 1.11. 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 $353.83 and a two-hundred day moving average price of $312.46.

Insider Buying and Selling at CrowdStrike

In other news, President Michael Sentonas sold 10,801 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $358.47, for a total value of $3,871,834.47. Following the completion of the sale, the president now directly owns 389,589 shares in the company, valued at approximately $139,655,968.83. The trade was a 2.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Anurag Saha sold 1,863 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $358.46, for a total value of $667,810.98. Following the transaction, the chief accounting officer now owns 41,059 shares in the company, valued at $14,718,009.14. This trade represents a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 106,351 shares of company stock worth $37,515,473 in the last 90 days. 4.34% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. State Street Corp grew its holdings in shares of CrowdStrike by 2.9% during the third quarter. State Street Corp now owns 9,630,776 shares of the company’s stock valued at $2,701,144,000 after purchasing an additional 275,717 shares during the last quarter. Jennison Associates LLC grew its position in CrowdStrike by 25.0% in the 3rd quarter. Jennison Associates LLC now owns 5,068,800 shares of the company’s stock worth $1,421,646,000 after purchasing an additional 1,013,161 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of CrowdStrike by 2.0% in the third quarter. Geode Capital Management LLC now owns 4,893,457 shares of the company’s stock valued at $1,367,505,000 after purchasing an additional 97,990 shares during the period. Legal & General Group Plc raised its holdings in shares of CrowdStrike by 3.0% during the second quarter. Legal & General Group Plc now owns 2,049,704 shares of the company’s stock valued at $785,425,000 after buying an additional 60,607 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of CrowdStrike by 4.4% during the second quarter. Ameriprise Financial Inc. now owns 1,817,387 shares of the company’s stock worth $696,471,000 after buying an additional 77,100 shares during the period. 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.