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

Shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) were down 3.5% 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. Approximately 1,286,004 shares traded hands during trading, a decline of 76% from the average daily volume of 5,397,836 shares. The stock had previously closed at $256.43.

Other equities analysts also recently issued reports about the company. Robert W. Baird reduced their price target on CrowdStrike from $335.00 to $315.00 and set an “outperform” rating for the company in a report on Thursday, August 29th. Cantor Fitzgerald reduced their price objective on shares of CrowdStrike from $400.00 to $350.00 and set an “overweight” rating for the company in a research note on Thursday, August 29th. Wedbush reiterated an “outperform” rating and issued a $315.00 target price on shares of CrowdStrike in a research note on Friday, August 9th. JPMorgan Chase & Co. reduced their price target on shares of CrowdStrike from $400.00 to $330.00 and set an “overweight” rating for the company in a research report on Monday, July 29th. Finally, Westpark Capital restated a “hold” rating on shares of CrowdStrike in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-three have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, CrowdStrike has an average rating of “Moderate Buy” and a consensus target price of $327.16.

Insider Buying and Selling at CrowdStrike

In related news, CAO Anurag Saha sold 1,662 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $380.63, for a total value of $632,607.06. Following the completion of the sale, the chief accounting officer now directly owns 40,645 shares in the company, valued at $15,470,706.35. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other CrowdStrike news, insider Shawn Henry sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $260.00, for a total transaction of $1,040,000.00. Following the completion of the transaction, the insider now owns 179,091 shares in the company, valued at $46,563,660. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Anurag Saha sold 1,662 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $380.63, for a total value of $632,607.06. Following the completion of the sale, the chief accounting officer now owns 40,645 shares in the company, valued at $15,470,706.35. 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 over the last ninety days. Company insiders own 4.34% of the company’s stock.

Hedge Funds Weigh In On CrowdStrike

Hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC bought a new stake in shares of CrowdStrike during the second quarter worth $15,285,000. NCP Inc. bought a new stake in CrowdStrike during the 2nd quarter valued at about $115,000. Gordian Capital Singapore Pte Ltd boosted its position in CrowdStrike by 15.8% in the 2nd quarter. Gordian Capital Singapore Pte Ltd now owns 586 shares of the company’s stock valued at $225,000 after buying an additional 80 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in CrowdStrike in the 2nd quarter worth about $38,000. Finally, New Wave Wealth Advisors LLC purchased a new position in shares of CrowdStrike during the second quarter worth approximately $325,000. Institutional investors own 71.16% of the company’s stock.

CrowdStrike Stock Down 3.0 %

The company has a quick ratio of 1.80, a current ratio of 1.90 and a debt-to-equity ratio of 0.26. The stock has a market cap of $60.51 billion, a P/E ratio of 466.85, a P/E/G ratio of 13.44 and a beta of 1.09. The company’s 50 day moving average price is $292.42 and its two-hundred day moving average price is $316.40.

CrowdStrike (NASDAQ:CRWD) last issued its earnings results on Wednesday, August 28th. The company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. CrowdStrike had a return on equity of 8.44% and a net margin of 4.84%. The business had revenue of $963.87 million during the quarter, compared to analyst estimates of $958.27 million. During the same period in the previous year, the company posted $0.06 EPS. CrowdStrike’s revenue was up 31.7% on a year-over-year basis. As a group, research analysts expect 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.