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

CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s stock price fell 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. 1,286,004 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 5,397,836 shares. The stock had previously closed at $256.43.

CRWD has been the topic of a number of other reports. JMP Securities restated a “market outperform” rating and issued a $400.00 price objective on shares of CrowdStrike in a research note on Tuesday, May 14th. Argus lowered their price target on shares of CrowdStrike from $400.00 to $325.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Citigroup cut their price objective on shares of CrowdStrike from $345.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, August 14th. Oppenheimer lowered their target price on shares of CrowdStrike from $450.00 to $365.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. Finally, BTIG Research cut CrowdStrike from a “buy” rating to a “neutral” rating in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-three have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $327.16.

Insiders Place Their Bets

In other CrowdStrike news, insider Shawn Henry sold 4,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $260.00, for a total value of $1,040,000.00. Following the completion of the sale, the insider now directly owns 179,091 shares of the company’s stock, valued at $46,563,660. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, President Michael Sentonas sold 10,735 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $380.63, for a total value of $4,086,063.05. Following the transaction, the president now owns 411,166 shares in the company, valued at $156,502,114.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shawn Henry sold 4,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $260.00, for a total transaction of $1,040,000.00. Following the sale, the insider now owns 179,091 shares of the company’s stock, valued at $46,563,660. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 130,219 shares of company stock valued at $48,856,294. 4.34% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of CrowdStrike by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 16,061,400 shares of the company’s stock worth $5,149,124,000 after purchasing an additional 315,280 shares during the period. Norges Bank bought a new position in CrowdStrike in the fourth quarter worth about $683,336,000. First Trust Advisors LP lifted its holdings in CrowdStrike by 19.3% in the fourth quarter. First Trust Advisors LP now owns 2,214,715 shares of the company’s stock worth $565,461,000 after buying an additional 358,945 shares during the period. Legal & General Group Plc boosted its position in CrowdStrike by 3.0% during the 2nd quarter. Legal & General Group Plc now owns 2,049,704 shares of the company’s stock valued at $785,425,000 after acquiring an additional 60,607 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of 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 acquiring an additional 77,100 shares during the period. Institutional investors own 71.16% of the company’s stock.

CrowdStrike Price Performance

The stock has a market cap of $60.51 billion, a P/E ratio of 466.85, a price-to-earnings-growth ratio of 13.44 and a beta of 1.09. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.80 and a current ratio of 1.90. The firm has a 50-day moving average price of $292.42 and a 200-day moving average price of $316.40.

CrowdStrike (NASDAQ:CRWD) last posted its quarterly earnings data 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 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 the consensus estimate of $958.27 million. During the same quarter in the prior year, the company earned $0.06 earnings per share. The firm’s quarterly revenue was up 31.7% compared to the same quarter last year. On average, analysts forecast that CrowdStrike Holdings, Inc. will post 0.81 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.