CrowdStrike (NASDAQ:CRWD) Trading Down 4.9% on Analyst Downgrade

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) shares were 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. Approximately 4,476,545 shares traded hands during trading, a decline of 10% from the average daily volume of 4,987,993 shares. The stock had previously closed at $364.30.

Several other research firms have also recently commented on CRWD. Bank of America raised their target price on shares of CrowdStrike from $365.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft lowered their price objective on CrowdStrike from $350.00 to $275.00 and set a “hold” rating on the stock in a report on Monday, August 26th. Hsbc Global Res raised CrowdStrike from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 30th. Oppenheimer lifted their price target on CrowdStrike from $365.00 to $410.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Robert W. Baird increased their price objective on CrowdStrike from $375.00 to $390.00 and gave the stock an “outperform” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $355.80.

Insider Buying and Selling at CrowdStrike

In related news, Director Sameer K. Gandhi sold 5,036 shares of the company’s stock in a transaction 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 represents a 0.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shawn Henry sold 4,500 shares of the firm’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 completion of the transaction, the insider now directly owns 174,591 shares in the company, valued at $45,521,111.43. This trade represents a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 108,248 shares of company stock valued at $32,465,110. Company insiders own 4.34% of the company’s stock.

Institutional Investors Weigh In On CrowdStrike

Several hedge funds have recently modified their holdings of the stock. Quent Capital LLC grew its position in CrowdStrike by 59.9% in the first quarter. Quent Capital LLC now owns 235 shares of the company’s stock valued at $75,000 after acquiring an additional 88 shares in the last quarter. Silvercrest Asset Management Group LLC purchased a new stake in CrowdStrike during the 1st quarter worth $218,000. Ancora Advisors LLC lifted its holdings in CrowdStrike by 33.7% in the 1st quarter. Ancora Advisors LLC now owns 4,266 shares of the company’s stock worth $1,368,000 after buying an additional 1,075 shares in the last quarter. Tidal Investments LLC boosted its position in CrowdStrike by 40.8% in the 1st quarter. Tidal Investments LLC now owns 17,018 shares of the company’s stock valued at $5,456,000 after buying an additional 4,934 shares during the last quarter. Finally, Beacon Capital Management LLC grew its stake in shares of CrowdStrike by 63.6% during the first quarter. Beacon Capital Management LLC now owns 193 shares of the company’s stock valued at $62,000 after acquiring an additional 75 shares in the last quarter. 71.16% of the stock is currently owned by hedge funds and other institutional investors.

CrowdStrike Stock Performance

The firm has a market capitalization of $85.20 billion, a PE ratio of 497.96, a price-to-earnings-growth ratio of 26.33 and a beta of 1.10. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a 50-day moving average price of $311.86 and a 200-day moving average price of $312.52.

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

CrowdStrike Company Profile

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.