CrowdStrike (NASDAQ:CRWD) Stock Price Down 4.6% on Analyst Downgrade

CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s stock price dropped 4.6% on Thursday after Hsbc Global Res downgraded the stock from a strong-buy rating to a hold rating. The stock 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.

Several other equities research analysts have also recently commented on the company. Jefferies Financial Group boosted their target price on CrowdStrike from $315.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. KeyCorp boosted their price target on CrowdStrike from $345.00 to $395.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Bank of America boosted their price target on CrowdStrike from $365.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday. Citigroup boosted their price target on CrowdStrike from $300.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Wells Fargo & Company boosted their price target on CrowdStrike from $350.00 to $400.00 and gave the stock an “overweight” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $355.80.

Insider Buying and Selling

In other CrowdStrike news, insider Shawn Henry sold 4,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $309.38, for a total value of $1,237,520.00. Following the completion of the transaction, the insider now directly owns 124,298 shares in the company, valued at approximately $38,455,315.24. This trade represents a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 of the company’s stock, valued at $11,582,623.36. This represents a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 108,248 shares of company stock worth $32,465,110 in the last ninety days. 4.34% of the stock is owned by insiders.

Hedge Funds Weigh In On CrowdStrike

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

CrowdStrike Trading Down 4.6 %

The company has a market cap of $85.20 billion, a price-to-earnings ratio of 503.75, a PEG ratio of 26.33 and a beta of 1.10. The firm has a 50 day moving average price of $314.88 and a two-hundred day moving average price of $313.01. 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 issued its quarterly earnings results 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. The company had revenue of $963.87 million during the quarter, compared to analysts’ expectations of $958.27 million. CrowdStrike had a return on equity of 8.44% and a net margin of 4.84%. The business’s quarterly revenue was up 31.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.06 earnings per share. As a group, equities 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.