George Kutz, President and CEO of CrowdStrike Holdings (CRWD), recently sold shares worth $16.41 million of the cybersecurity company. Additionally, the company’s president, Michael Sentonas, Chief Accounting officer Anurag Saha, and CFO Burt Podbere made Informative Sell transactions of CRWD stock valued at $3.2 million, $965,183, and $3.33 million, respectively, according to filings dated September 25.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
A corporate insider’s share sale usually signals caution about the company’s future potential. However, an insider might sell shares for other reasons, such as financial or personal obligations.
Texas-based CrowdStrike is one of the largest cybersecurity companies in the world. It offers endpoint security solutions, threat detection, and cyberattack response services, all backed by the power of AI (artificial intelligence). Earlier this year, an update by CrowdStrike led to a major global outage, causing grounding of flights and disruptions across several sectors.
A Closer Look at the Insider’s Transactions
As per Form 4 filed with the SEC on September 25, Kutz sold 55,325 CRWD shares on September 23, at a weighted average price ranging between $293.41 and $301.94 apiece. These shares were a part of the CEO’s restricted stock units (RSUs). It is worth noting that even after the latest Informative Sell transaction, Kutz still owns 1,109,746 CRWD shares worth $320.21 million.
CRWD stock currently has a Negative Insider Confidence Signal on TipRanks, based on Informative Sell transactions worth $29.8 million undertaken in the last three months.
It is important to keep an eye on the Informative trades of corporate insiders, given their knowledge of a company’s growth potential. Interestingly, TipRanks offers daily insider transactions as well as a list of top corporate insiders. It also provides a list of hot stocks that boast either a Very Positive or Positive insider confidence signal.
Is CRWD a Good Stock to Buy Today?
Despite the ongoing challenges, analysts remain highly optimistic about CrowdStrike. On TipRanks, CRWD stock has a Strong Buy consensus rating based on 35 Buys, five Holds, and one Sell recommendation. Also, the average CrowdStrike Holdings price target of $324.09 implies 13.1% upside potential from current levels.
