CrowdStrike (NASDAQ:CRWD) Trading Down 3.5% Following Analyst Downgrade

Shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) fell 3.5% during trading on Friday after Susquehanna lowered their price target on the stock from $410.00 to $310.00. Susquehanna currently has a positive rating on the stock. CrowdStrike traded as low as $246.53 and last traded at $247.43. 1,286,004 shares were traded during trading, a decline of 76% from the average session volume of 5,397,836 shares. The stock had previously closed at $256.43.

A number of other equities research analysts also recently weighed in on CRWD. Scotiabank dropped their target price on CrowdStrike from $300.00 to $265.00 and set a “sector perform” rating for the company in a report on Wednesday, August 14th. Hsbc Global Res raised CrowdStrike from a “hold” rating to a “strong-buy” rating in a report on Friday, August 30th. Westpark Capital reissued a “hold” rating on shares of CrowdStrike in a report on Thursday, August 29th. Wells Fargo & Company dropped their target price on CrowdStrike from $435.00 to $350.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Finally, Wedbush reissued an “outperform” rating and set a $315.00 target price on shares of CrowdStrike in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-three have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, CrowdStrike presently has an average rating of “Moderate Buy” and a consensus target price of $327.16.

Insider Buying and Selling at CrowdStrike

In other CrowdStrike news, insider Shawn Henry sold 4,500 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $382.93, for a total value of $1,723,185.00. Following the transaction, the insider now directly owns 200,672 shares of the company’s stock, valued at $76,843,328.96. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO George Kurtz sold 55,587 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $376.45, for a total transaction of $20,925,726.15. Following the transaction, the chief executive officer now directly owns 1,127,843 shares of the company’s stock, valued at $424,576,497.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shawn Henry sold 4,500 shares of the stock in a transaction on Monday, June 17th. The shares were sold at an average price of $382.93, for a total value of $1,723,185.00. Following the completion of the sale, the insider now directly owns 200,672 shares of the company’s stock, valued at $76,843,328.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 130,219 shares of company stock valued at $48,856,294. 4.34% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CrowdStrike

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in 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 purchasing an additional 315,280 shares during the period. Norges Bank bought a new position in shares of CrowdStrike during the 4th quarter worth $683,336,000. First Trust Advisors LP grew its stake in shares of CrowdStrike by 19.3% during the 4th quarter. First Trust Advisors LP now owns 2,214,715 shares of the company’s stock worth $565,461,000 after acquiring an additional 358,945 shares during the period. Legal & General Group Plc grew its stake 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 acquiring an additional 60,607 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in 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 in the last quarter. 71.16% of the stock is owned by hedge funds and other institutional investors.

CrowdStrike Price Performance

The business has a fifty day moving average of $289.69 and a 200-day moving average of $315.83. The firm has a market cap of $59.96 billion, a PE ratio of 464.89, a PEG ratio of 13.44 and a beta of 1.09. The company has a current ratio of 1.90, a quick ratio of 1.80 and a debt-to-equity ratio of 0.26.

CrowdStrike (NASDAQ:CRWD) last released its quarterly earnings results on Wednesday, August 28th. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.07. The firm had revenue of $963.87 million for the quarter, compared to analysts’ expectations of $958.27 million. CrowdStrike had a return on equity of 8.44% and a net margin of 4.84%. The company’s revenue was up 31.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.06 EPS. As a group, research analysts predict that CrowdStrike Holdings, Inc. will post 0.81 earnings per share for the current 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.