CrowdStrike (NASDAQ:CRWD) Stock Price Down 4.9% Following Analyst Downgrade

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) traded down 4.9% during trading on Wednesday after Royal Bank of Canada lowered their price target on the stock from $370.00 to $365.00. Royal Bank of Canada currently has an outperform rating on the stock. CrowdStrike traded as low as $343.34 and last traded at $346.57. 4,476,545 shares traded hands during trading, a decline of 10% from the average session volume of 4,987,993 shares. The stock had previously closed at $364.30.

Several other research firms also recently commented on CRWD. Stifel Nicolaus raised their price objective on shares of CrowdStrike from $300.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Scotiabank cut their price target on CrowdStrike from $300.00 to $265.00 and set a “sector perform” rating for the company in a report on Wednesday, August 14th. Canaccord Genuity Group reiterated a “buy” rating and set a $330.00 price objective on shares of CrowdStrike in a research note on Monday, September 30th. Citigroup raised their target price on CrowdStrike from $300.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, BMO Capital Markets upped their price target on CrowdStrike from $315.00 to $380.00 and gave the company an “outperform” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, CrowdStrike currently has an average rating of “Moderate Buy” and a consensus target price of $355.80.

Insider Activity at CrowdStrike

In other news, CAO Anurag Saha sold 1,683 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $297.28, for a total value of $500,322.24. Following the completion of the transaction, the chief accounting officer now owns 38,962 shares of the company’s stock, valued at approximately $11,582,623.36. This represents a 4.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shawn Henry sold 4,500 shares of CrowdStrike stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $260.73, for a total value of $1,173,285.00. Following the sale, the insider now owns 174,591 shares in the company, valued at $45,521,111.43. This represents a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 108,248 shares of company stock worth $32,465,110 over the last quarter. Corporate insiders own 4.34% of the company’s stock.

Hedge Funds Weigh In On CrowdStrike

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Abich Financial Wealth Management LLC bought a new position in shares of CrowdStrike in the 2nd quarter worth about $25,000. Family Firm Inc. purchased a new stake in CrowdStrike in the second quarter worth about $30,000. Itau Unibanco Holding S.A. bought a new position in shares of CrowdStrike during the second quarter valued at approximately $33,000. Unique Wealth Strategies LLC purchased a new position in shares of CrowdStrike during the second quarter valued at approximately $36,000. Finally, Hobbs Group Advisors LLC bought a new stake in shares of CrowdStrike in the 2nd quarter worth approximately $38,000. Hedge funds and other institutional investors own 71.16% of the company’s stock.

CrowdStrike Price Performance

The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.26. The company has a market cap of $85.20 billion, a PE ratio of 503.75, a P/E/G ratio of 26.33 and a beta of 1.10. The firm has a 50 day moving average of $313.47 and a two-hundred day moving average of $312.77.

CrowdStrike (NASDAQ:CRWD) last released its earnings results on Wednesday, August 28th. The company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates 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 quarterly revenue was up 31.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.06 earnings per share. Research analysts predict that CrowdStrike Holdings, Inc. will post 0.49 earnings per share 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.