CrowdStrike (NASDAQ:CRWD) Trading Down 1% – Should You Sell?

CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s stock price was down 1% during trading on Wednesday . The company traded as low as $301.24 and last traded at $305.36. Approximately 641,779 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 5,155,421 shares. The stock had previously closed at $308.51.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CRWD shares. JPMorgan Chase & Co. reduced their price objective on shares of CrowdStrike from $400.00 to $330.00 and set an “overweight” rating for the company in a research note on Monday, July 29th. Piper Sandler reaffirmed an “overweight” rating and issued a $290.00 price target on shares of CrowdStrike in a report on Thursday, September 19th. Scotiabank cut their price target on shares of CrowdStrike from $300.00 to $265.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 14th. Wells Fargo & Company cut their price target on shares of CrowdStrike from $435.00 to $350.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Finally, Evercore ISI cut their price target on shares of CrowdStrike from $350.00 to $325.00 and set an “outperform” rating on the stock in a report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $328.74.

CrowdStrike Stock Performance

The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.26. The firm’s 50-day moving average is $280.61 and its two-hundred day moving average is $308.07. The stock has a market cap of $72.66 billion, a price-to-earnings ratio of 584.92, a P/E/G ratio of 19.94 and a beta of 1.10.

CrowdStrike (NASDAQ:CRWD) last released its quarterly earnings results on Wednesday, August 28th. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.07. CrowdStrike had a net margin of 4.84% and a return on equity of 8.44%. The firm had revenue of $963.87 million during the quarter, compared to the consensus estimate of $958.27 million. During the same quarter in the prior year, the firm earned $0.06 EPS. The company’s revenue for the quarter was up 31.7% on a year-over-year basis. As a group, sell-side analysts expect that CrowdStrike Holdings, Inc. will post 0.53 earnings per share for the current year.

Insider Buying and Selling at CrowdStrike

In other CrowdStrike news, CEO George Kurtz sold 55,325 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $296.62, for a total value of $16,410,501.50. Following the completion of the sale, the chief executive officer now owns 1,109,746 shares in the company, valued at approximately $329,172,858.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other CrowdStrike news, CEO George Kurtz sold 55,325 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $296.62, for a total value of $16,410,501.50. Following the completion of the sale, the chief executive officer now owns 1,109,746 shares in the company, valued at approximately $329,172,858.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sameer K. Gandhi sold 6,250 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $320.38, for a total transaction of $2,002,375.00. Following the completion of the sale, the director now owns 821,766 shares of the company’s stock, valued at approximately $263,277,391.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 103,212 shares of company stock worth $30,529,413. Insiders own 4.34% of the company’s stock.

Institutional Trading of CrowdStrike

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of CrowdStrike by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 16,061,400 shares of the company’s stock valued at $5,149,124,000 after buying an additional 315,280 shares during the period. Legal & General Group Plc boosted its position in shares of CrowdStrike by 3.0% during the 2nd quarter. Legal & General Group Plc now owns 2,049,704 shares of the company’s stock worth $785,425,000 after purchasing an additional 60,607 shares during the period. Ameriprise Financial Inc. boosted its position in shares of CrowdStrike by 4.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,817,387 shares of the company’s stock worth $696,471,000 after purchasing an additional 77,100 shares during the period. Bank of New York Mellon Corp boosted its position in shares of CrowdStrike by 47.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,753,252 shares of the company’s stock worth $671,828,000 after purchasing an additional 564,662 shares during the period. Finally, Federated Hermes Inc. boosted its position in shares of CrowdStrike by 0.9% during the 2nd quarter. Federated Hermes Inc. now owns 1,112,272 shares of the company’s stock worth $426,212,000 after purchasing an additional 9,564 shares during the period. Hedge funds and other institutional investors 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.