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

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) traded down 4.9% 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 mid-day trading, a decline of 10% from the average session volume of 4,987,993 shares. The stock had previously closed at $364.30.

CRWD has been the subject of a number of other research reports. UBS Group cut their target price on shares of CrowdStrike from $330.00 to $310.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. BNP Paribas initiated coverage on shares of CrowdStrike in a research report on Tuesday, October 8th. They issued a “neutral” rating and a $285.00 target price for the company. Argus dropped their price objective on shares of CrowdStrike from $400.00 to $325.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Wedbush set a $330.00 target price on CrowdStrike in a report on Thursday, October 17th. Finally, Piper Sandler lifted their price target on CrowdStrike from $290.00 to $375.00 and gave the stock an “overweight” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $355.80.

Insider Activity

In other CrowdStrike news, CFO Burt W. Podbere sold 11,178 shares of CrowdStrike stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $297.47, for a total transaction of $3,325,119.66. Following the completion of the sale, the chief financial officer now directly owns 286,472 shares of the company’s stock, valued at $85,216,825.84. The trade was a 3.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Anurag Saha sold 1,683 shares of the stock in a transaction dated Monday, September 23rd. The shares were 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 in the company, valued at approximately $11,582,623.36. The trade was a 4.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 108,248 shares of company stock worth $32,465,110. 4.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CrowdStrike

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Arlington Financial Advisors LLC lifted its position in shares of CrowdStrike by 1.5% during the 2nd quarter. Arlington Financial Advisors LLC now owns 2,030 shares of the company’s stock worth $778,000 after buying an additional 30 shares during the last quarter. Synergy Financial Group LTD raised its stake in CrowdStrike by 0.8% during the 3rd quarter. Synergy Financial Group LTD now owns 3,950 shares of the company’s stock worth $1,108,000 after acquiring an additional 30 shares in the last quarter. Sunpointe LLC boosted its stake in CrowdStrike by 3.1% in the third quarter. Sunpointe LLC now owns 1,131 shares of the company’s stock valued at $317,000 after acquiring an additional 34 shares in the last quarter. Hilltop Holdings Inc. grew its holdings in shares of CrowdStrike by 1.8% during the third quarter. Hilltop Holdings Inc. now owns 1,932 shares of the company’s stock worth $542,000 after purchasing an additional 34 shares during the last quarter. Finally, Means Investment CO. Inc. increased its position in shares of CrowdStrike by 1.8% during the second quarter. Means Investment CO. Inc. now owns 1,933 shares of the company’s stock worth $741,000 after purchasing an additional 35 shares in the last quarter. 71.16% of the stock is owned by institutional investors and hedge funds.

CrowdStrike Price Performance

The company has a fifty day moving average price of $311.86 and a two-hundred day moving average price of $312.52. The firm has a market capitalization of $85.20 billion, a PE ratio of 497.96, a P/E/G ratio of 26.33 and a beta of 1.10. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.26.

CrowdStrike (NASDAQ:CRWD) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate 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 period in the prior year, the company earned $0.06 earnings per share. The company’s revenue was up 31.7% compared to the same quarter last year. Sell-side analysts forecast that CrowdStrike Holdings, Inc. will post 0.49 earnings per share for the current 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.