CrowdStrike (NASDAQ:CRWD) Trading Down 1.6% – Time to Sell?

Shares of CrowdStrike (NASDAQ:CRWD) dropped 1.6% on Wednesday . The company traded as low as $468.91 and last traded at $469.19. Approximately 2,320,587 shares changed hands during trading, a decline of 12% from the average daily volume of 2,652,033 shares. The stock had previously closed at $476.66.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Daiwa Capital Markets boosted their price target on shares of CrowdStrike from $530.00 to $560.00 and gave the company an “outperform” rating in a research report on Tuesday, December 9th. Loop Capital set a $550.00 target price on CrowdStrike in a research note on Thursday, December 11th. Robert W. Baird raised their price target on CrowdStrike from $490.00 to $550.00 and gave the company a “neutral” rating in a report on Friday, November 14th. Morgan Stanley boosted their price objective on CrowdStrike from $515.00 to $537.00 and gave the stock an “equal weight” rating in a report on Thursday, December 18th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and issued a $500.00 target price on shares of CrowdStrike in a research note on Wednesday, December 3rd. Thirty-one investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $555.21.

CrowdStrike Stock Performance

The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.81 and a current ratio of 1.81. The firm has a market capitalization of $111.28 billion, a P/E ratio of -350.32, a PEG ratio of 108.84 and a beta of 1.03. The company has a 50-day simple moving average of $480.04 and a two-hundred day simple moving average of $477.29.

CrowdStrike (NASDAQ:CRWD) last announced its quarterly earnings data on Wednesday, December 3rd. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.94 by $0.02. CrowdStrike had a negative net margin of 6.88% and a negative return on equity of 2.12%. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the firm posted $0.93 EPS. CrowdStrike’s revenue for the quarter was up 21.8% on a year-over-year basis. As a group, equities analysts forecast that CrowdStrike will post 0.55 EPS for the current year.

Insider Activity at CrowdStrike

In related news, President Michael Sentonas sold 11,461 shares of CrowdStrike stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $479.78, for a total transaction of $5,498,758.58. Following the sale, the president owned 342,655 shares of the company’s stock, valued at approximately $164,399,015.90. This trade represents a 3.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sameer K. Gandhi sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $550.20, for a total value of $2,751,000.00. Following the sale, the director directly owned 765,456 shares in the company, valued at $421,153,891.20. This trade represents a 0.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 69,048 shares of company stock worth $34,509,857 in the last 90 days. Company insiders own 3.32% of the company’s stock.

Institutional Investors Weigh In On CrowdStrike

Several hedge funds and other institutional investors have recently modified their holdings of CRWD. Advyzon Investment Management LLC grew its stake in CrowdStrike by 142.9% in the 2nd quarter. Advyzon Investment Management LLC now owns 906 shares of the company’s stock valued at $461,000 after acquiring an additional 533 shares during the period. Carnegie Investment Counsel lifted its holdings in CrowdStrike by 6.7% during the third quarter. Carnegie Investment Counsel now owns 22,601 shares of the company’s stock valued at $11,083,000 after purchasing an additional 1,428 shares in the last quarter. Silver Oak Securities Incorporated increased its stake in shares of CrowdStrike by 394.8% during the third quarter. Silver Oak Securities Incorporated now owns 2,954 shares of the company’s stock worth $1,449,000 after purchasing an additional 2,357 shares in the last quarter. Traynor Capital Management Inc. lifted its stake in CrowdStrike by 10.9% in the 3rd quarter. Traynor Capital Management Inc. now owns 53,117 shares of the company’s stock valued at $26,047,000 after buying an additional 5,205 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC boosted its holdings in CrowdStrike by 7.3% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 22,253 shares of the company’s stock worth $10,912,000 after buying an additional 1,512 shares during the last quarter. 71.16% of the stock is currently owned by hedge funds and other institutional investors.

About CrowdStrike

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.