CrowdStrike (NASDAQ:CRWD) Trading Down 4.6% on Analyst Downgrade

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) dropped 4.6% during trading on Thursday after Hsbc Global Res downgraded the stock from a strong-buy rating to a hold rating. The stock traded as low as $340.52 and last traded at $347.59. Approximately 10,786,740 shares changed hands during trading, an increase of 115% from the average daily volume of 5,018,098 shares. The stock had previously closed at $364.30.

Other research analysts have also issued research reports about the stock. Morgan Stanley boosted their price objective on shares of CrowdStrike from $325.00 to $355.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Royal Bank of Canada reduced their price objective on shares of CrowdStrike from $370.00 to $365.00 and set an “outperform” rating for the company in a research note on Wednesday. Evercore ISI boosted their price objective on shares of CrowdStrike from $325.00 to $400.00 and gave the stock an “outperform” rating in a research note on Monday. TD Cowen cut their price target on shares of CrowdStrike from $400.00 to $380.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, Barclays upped their price target on shares of CrowdStrike from $295.00 to $372.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $355.80.

Insider Activity

In other CrowdStrike news, insider Shawn Henry sold 4,500 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 174,591 shares in the company, valued at $45,521,111.43. The trade was a 2.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sameer K. Gandhi sold 5,036 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $320.48, for a total transaction of $1,613,937.28. Following the completion of the sale, the director now directly owns 816,730 shares of the company’s stock, valued at approximately $261,745,630.40. This trade represents a 0.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 108,248 shares of company stock worth $32,465,110 over the last three months. Insiders own 4.34% of the company’s stock.

Hedge Funds Weigh In On CrowdStrike

A number of hedge funds have recently modified their holdings of the business. Abich Financial Wealth Management LLC acquired a new position in CrowdStrike in the second quarter valued at about $25,000. Family Firm Inc. acquired a new position in shares of CrowdStrike in the 2nd quarter worth approximately $30,000. Itau Unibanco Holding S.A. purchased a new position in shares of CrowdStrike during the 2nd quarter worth approximately $33,000. Unique Wealth Strategies LLC acquired a new stake in CrowdStrike in the 2nd quarter valued at approximately $36,000. Finally, Hobbs Group Advisors LLC acquired a new position in CrowdStrike during the second quarter worth $38,000. 71.16% of the stock is currently owned by hedge funds and other institutional investors.

CrowdStrike Stock Performance

The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $85.20 billion, a PE ratio of 503.75, a price-to-earnings-growth ratio of 26.33 and a beta of 1.10. The firm has a 50-day moving average price of $313.47 and a 200 day moving average price of $312.77.

CrowdStrike (NASDAQ:CRWD) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. CrowdStrike had a net margin of 4.84% and a return on equity of 8.44%. The company had revenue of $963.87 million for the quarter, compared to analyst estimates of $958.27 million. During the same period in the prior year, the firm earned $0.06 earnings per share. The business’s revenue for the quarter was up 31.7% compared to the same quarter last year. Research analysts expect that CrowdStrike Holdings, Inc. will post 0.49 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.