CrowdStrike (NASDAQ:CRWD) Trading Down 0.6% After Analyst Downgrade

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) dropped 0.6% during trading on Monday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $350.00 to $275.00. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. CrowdStrike traded as low as $267.18 and last traded at $269.84. Approximately 1,269,201 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 5,369,142 shares. The stock had previously closed at $271.54.

CRWD has been the topic of a number of other research reports. Jefferies Financial Group cut their price objective on shares of CrowdStrike from $400.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. HSBC cut shares of CrowdStrike from a “buy” rating to a “hold” rating and cut their price target for the stock from $388.00 to $302.00 in a research report on Tuesday, July 23rd. Needham & Company LLC decreased their price objective on CrowdStrike from $425.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Scotiabank dropped their target price on CrowdStrike from $300.00 to $265.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 14th. Finally, Guggenheim cut CrowdStrike from a “buy” rating to a “neutral” rating in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $335.46.

Insiders Place Their Bets

In other news, President Michael Sentonas sold 10,735 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $380.63, for a total transaction of $4,086,063.05. Following the sale, the president now directly owns 411,166 shares of the company’s stock, valued at approximately $156,502,114.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Roxanne S. Austin sold 10,000 shares of the business’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $390.01, for a total transaction of $3,900,100.00. Following the completion of the transaction, the director now owns 18,297 shares of the company’s stock, valued at approximately $7,136,012.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President Michael Sentonas sold 10,735 shares of CrowdStrike stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $380.63, for a total value of $4,086,063.05. Following the completion of the transaction, the president now owns 411,166 shares in the company, valued at approximately $156,502,114.58. The disclosure for this sale can be found here. Insiders have sold a total of 130,219 shares of company stock worth $48,856,294 in the last 90 days. Company insiders own 4.34% of the company’s stock.

Institutional Investors Weigh In On CrowdStrike

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC bought a new stake in shares of CrowdStrike during the fourth quarter worth $61,000. Yousif Capital Management LLC increased its holdings in CrowdStrike by 3.0% in the 4th quarter. Yousif Capital Management LLC now owns 2,539 shares of the company’s stock worth $648,000 after purchasing an additional 73 shares in the last quarter. Citizens Financial Group Inc. RI bought a new position in CrowdStrike in the fourth quarter valued at about $200,000. PGGM Investments acquired a new stake in shares of CrowdStrike during the fourth quarter valued at about $435,000. Finally, Silver Oak Securities Incorporated grew its holdings in shares of CrowdStrike by 404.3% during the fourth quarter. Silver Oak Securities Incorporated now owns 827 shares of the company’s stock worth $211,000 after purchasing an additional 663 shares during the last quarter. 71.16% of the stock is currently owned by institutional investors and hedge funds.

CrowdStrike Price Performance

The company has a 50 day moving average price of $311.05 and a 200-day moving average price of $319.63. The company has a market cap of $65.67 billion, a price-to-earnings ratio of 507.58, a P/E/G ratio of 11.79 and a beta of 1.10. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.29.

CrowdStrike (NASDAQ:CRWD) last announced its quarterly earnings results on Tuesday, June 4th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.01). The business had revenue of $921.04 million during the quarter, compared to analyst estimates of $904.82 million. CrowdStrike had a net margin of 4.01% and a return on equity of 7.39%. As a group, equities research analysts predict that CrowdStrike Holdings, Inc. will post 0.87 EPS for the current fiscal year.

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.