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

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) dropped 4.6% on Thursday after Hsbc Global Res downgraded the stock from a strong-buy rating to a hold rating. The company traded as low as $340.52 and last traded at $347.59. Approximately 10,786,740 shares were traded 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 equities analysts also recently issued research reports about the stock. HSBC downgraded shares of CrowdStrike from a “buy” rating to a “hold” rating and set a $347.00 target price for the company. in a research note on Wednesday. CICC Research started coverage on shares of CrowdStrike in a report on Monday, November 18th. They set a “market perform” rating and a $295.00 price target on the stock. The Goldman Sachs Group cut their price target on shares of CrowdStrike from $400.00 to $295.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Susquehanna increased their price target on shares of CrowdStrike from $310.00 to $400.00 and gave the company a “positive” rating in a report on Wednesday. Finally, Evercore ISI increased their price target on shares of CrowdStrike from $325.00 to $400.00 and gave the company an “outperform” rating in a report on Monday. One analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $355.80.

Insider Buying and Selling at CrowdStrike

In other CrowdStrike news, CAO Anurag Saha sold 1,683 shares of CrowdStrike stock in a transaction on 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 directly owns 38,962 shares of the company’s stock, valued at $11,582,623.36. This trade represents a 4.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Shawn Henry sold 4,000 shares of CrowdStrike stock in a transaction on Friday, November 15th. The stock was sold at an average price of $340.44, for a total transaction of $1,361,760.00. Following the completion of the transaction, the insider now directly owns 120,298 shares of the company’s stock, valued at $40,954,251.12. The trade was a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 108,248 shares of company stock worth $32,465,110. Insiders own 4.34% of the company’s stock.

Hedge Funds Weigh In On CrowdStrike

A number of large investors have recently made changes to their positions in the company. Abich Financial Wealth Management LLC purchased a new stake in CrowdStrike in the 2nd quarter valued at about $25,000. Oakworth Capital Inc. purchased a new stake in CrowdStrike in the 3rd quarter valued at about $28,000. Tsfg LLC boosted its position in CrowdStrike by 593.3% in the 3rd quarter. Tsfg LLC now owns 104 shares of the company’s stock valued at $29,000 after buying an additional 89 shares during the period. Family Firm Inc. purchased a new stake in CrowdStrike in the 2nd quarter valued at about $30,000. Finally, Castleview Partners LLC purchased a new stake in CrowdStrike in the 3rd quarter valued at about $32,000. 71.16% of the stock is owned by hedge funds and other institutional investors.

CrowdStrike Stock Performance

The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $85.20 billion, a PE ratio of 503.75, a PEG ratio of 26.33 and a beta of 1.10. The firm’s 50-day simple moving average is $313.47 and its 200-day simple moving average is $312.77.

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