CrowdStrike (NASDAQ:CRWD) Shares Down 4.9% After Analyst Downgrade

CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s stock price fell 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 were traded during 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 several other reports. UBS Group decreased their price target on shares of CrowdStrike from $330.00 to $310.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. BNP Paribas assumed coverage on CrowdStrike in a report on Tuesday, October 8th. They issued a “neutral” rating and a $285.00 price objective for the company. Piper Sandler lifted their target price on CrowdStrike from $290.00 to $375.00 and gave the stock an “overweight” rating in a report on Wednesday. Stifel Nicolaus increased their price target on CrowdStrike from $300.00 to $375.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Finally, Wells Fargo & Company lifted their price objective on CrowdStrike from $350.00 to $400.00 and gave the stock an “overweight” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $355.80.

Insider Activity

In other news, insider Shawn Henry sold 4,000 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $340.44, for a total value of $1,361,760.00. Following the completion of the sale, the insider now owns 120,298 shares in the company, valued at $40,954,251.12. This represents a 3.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO George Kurtz sold 55,325 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $296.62, for a total transaction of $16,410,501.50. Following the transaction, the chief executive officer now directly owns 1,109,746 shares in the company, valued at $329,172,858.52. The trade was a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 108,248 shares of company stock worth $32,465,110 over the last 90 days. 4.34% of the stock is currently owned by corporate insiders.

Institutional Trading of CrowdStrike

A number of institutional investors and hedge funds have recently modified their holdings of the business. Tri Ri Asset Management Corp bought a new position in CrowdStrike in the 3rd quarter valued at $5,456,000. Peapack Gladstone Financial Corp purchased a new position in shares of CrowdStrike in the 3rd quarter worth about $497,000. Tidal Investments LLC grew its position in CrowdStrike by 7.5% during the third quarter. Tidal Investments LLC now owns 24,813 shares of the company’s stock valued at $6,959,000 after buying an additional 1,740 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in CrowdStrike during the third quarter worth about $1,319,000. Finally, World Investment Advisors LLC increased its holdings in CrowdStrike by 24.7% during the third quarter. World Investment Advisors LLC now owns 2,514 shares of the company’s stock worth $705,000 after buying an additional 498 shares during the last quarter. 71.16% of the stock is owned by hedge funds and other institutional investors.

CrowdStrike Trading Down 4.6 %

The firm’s 50-day simple moving average is $313.47 and its 200 day simple moving average is $312.77. The firm has a market cap of $85.20 billion, a P/E ratio of 503.75, a price-to-earnings-growth ratio of 26.33 and a beta of 1.10. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.26.

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