CrowdStrike (NASDAQ:CRWD) Trading Down 4.2% on Insider Selling

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) traded down 4.2% during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $417.06 and last traded at $424.74. 2,547,984 shares were traded during mid-day trading, a decline of 50% from the average session volume of 5,053,086 shares. The stock had previously closed at $443.21.

Specifically, CFO Burt W. Podbere sold 16,000 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $436.88, for a total value of $6,990,080.00. Following the sale, the chief financial officer now owns 249,653 shares in the company, valued at $109,068,402.64. This represents a 6.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Gerhard Watzinger sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $449.00, for a total transaction of $4,490,000.00. Following the transaction, the director now owns 49,500 shares of the company’s stock, valued at $22,225,500. This trade represents a 16.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, CEO George Kurtz sold 55,556 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $447.54, for a total value of $24,863,532.24. Following the sale, the chief executive officer now owns 2,192,610 shares of the company’s stock, valued at approximately $981,280,679.40. This represents a 2.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

Several analysts have commented on CRWD shares. Raymond James cut shares of CrowdStrike from an “outperform” rating to a “cautious” rating in a research note on Monday, March 10th. JMP Securities lifted their price target on CrowdStrike from $400.00 to $500.00 and gave the company a “market outperform” rating in a report on Monday. Royal Bank of Canada reiterated an “outperform” rating on shares of CrowdStrike in a report on Wednesday, March 5th. Scotiabank reaffirmed a “sector perform” rating on shares of CrowdStrike in a research note on Wednesday, February 5th. Finally, Mizuho upped their price objective on CrowdStrike from $385.00 to $450.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, thirty have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $403.20.

CrowdStrike Stock Performance

The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.86 and a current ratio of 1.86. The business’s 50-day moving average is $375.60 and its 200-day moving average is $369.00. The company has a market capitalization of $106.25 billion, a PE ratio of 840.47, a PEG ratio of 17.86 and a beta of 1.22.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. IFG Advisory LLC raised its position in shares of CrowdStrike by 156.0% in the 1st quarter. IFG Advisory LLC now owns 4,817 shares of the company’s stock worth $1,698,000 after purchasing an additional 2,935 shares during the last quarter. SPC Financial Inc. lifted its stake in shares of CrowdStrike by 3.3% in the first quarter. SPC Financial Inc. now owns 1,105 shares of the company’s stock worth $390,000 after buying an additional 35 shares in the last quarter. Signature Wealth Management Partners LLC grew its holdings in shares of CrowdStrike by 21.1% during the first quarter. Signature Wealth Management Partners LLC now owns 3,684 shares of the company’s stock valued at $1,299,000 after buying an additional 643 shares during the last quarter. Baker Avenue Asset Management LP bought a new stake in shares of CrowdStrike during the first quarter valued at approximately $279,000. Finally, US Bancorp DE lifted its position in CrowdStrike by 5.9% in the 1st quarter. US Bancorp DE now owns 82,583 shares of the company’s stock valued at $29,117,000 after acquiring an additional 4,613 shares in the last quarter. 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.