CrowdStrike (NASDAQ:CRWD) Cut to “Sector Perform” at Scotiabank

Scotiabank cut shares of CrowdStrike (NASDAQ:CRWD) from a sector outperform rating to a sector perform rating in a report released on Monday, MarketBeat reports. The firm currently has $300.00 price objective on the stock, down from their prior price objective of $393.00.

A number of other analysts also recently weighed in on the company. Canaccord Genuity Group increased their price target on CrowdStrike from $400.00 to $405.00 and gave the stock a buy rating in a report on Wednesday, June 5th. Mizuho decreased their price target on CrowdStrike from $390.00 to $370.00 and set a buy rating for the company in a report on Wednesday, June 5th. Piper Sandler downgraded CrowdStrike from an overweight rating to a neutral rating and set a $400.00 price target for the company. in a report on Tuesday, July 2nd. Evercore ISI decreased their price target on CrowdStrike from $405.00 to $350.00 and set an outperform rating for the company in a report on Friday, July 19th. Finally, KeyCorp cut their price objective on shares of CrowdStrike from $440.00 to $420.00 and set an overweight rating on the stock in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, CrowdStrike has a consensus rating of Moderate Buy and a consensus target price of $359.16.

CrowdStrike Stock Performance

NASDAQ CRWD opened at $258.14 on Monday. The company has a market capitalization of $62.82 billion, a price-to-earnings ratio of 487.06, a PEG ratio of 13.30 and a beta of 1.10. CrowdStrike has a twelve month low of $140.52 and a twelve month high of $398.33. The stock has a fifty day simple moving average of $357.65 and a 200 day simple moving average of $326.53. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.29.

CrowdStrike (NASDAQ:CRWD) last posted its quarterly earnings data on Tuesday, June 4th. The company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). The company had revenue of $921.04 million during the quarter, compared to analyst estimates of $904.82 million. CrowdStrike had a net margin of 4.01% and a return on equity of 7.39%. Sell-side analysts expect that CrowdStrike will post 0.9 EPS for the current year.

Insider Transactions at CrowdStrike

In other news, CAO Anurag Saha sold 1,662 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 transaction of $632,607.06. Following the completion of the sale, the chief accounting officer now owns 40,645 shares in the company, valued at approximately $15,470,706.35. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Burt W. Podbere sold 15,753 shares of CrowdStrike stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $305.15, for a total value of $4,807,027.95. Following the completion of the transaction, the chief financial officer now directly owns 313,994 shares in the company, valued at approximately $95,815,269.10. 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 1,662 shares of CrowdStrike stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $380.63, for a total transaction of $632,607.06. Following the completion of the transaction, the chief accounting officer now owns 40,645 shares of the company’s stock, valued at $15,470,706.35. The disclosure for this sale can be found here. Insiders sold a total of 219,675 shares of company stock worth $76,931,522 in the last quarter. Insiders own 4.34% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CRWD. Vanguard Group Inc. grew its position in shares of CrowdStrike by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 16,061,400 shares of the company’s stock valued at $5,149,124,000 after purchasing an additional 315,280 shares in the last quarter. Jennison Associates LLC grew its position in shares of CrowdStrike by 33.2% during the 4th quarter. Jennison Associates LLC now owns 6,340,819 shares of the company’s stock valued at $1,618,938,000 after purchasing an additional 1,581,796 shares in the last quarter. Norges Bank purchased a new position in shares of CrowdStrike during the 4th quarter valued at $683,336,000. First Trust Advisors LP grew its position in shares of CrowdStrike by 19.3% during the 4th quarter. First Trust Advisors LP now owns 2,214,715 shares of the company’s stock valued at $565,461,000 after purchasing an additional 358,945 shares in the last quarter. Finally, Pathstone Holdings LLC purchased a new position in shares of CrowdStrike during the 4th quarter valued at $450,418,000. 71.16% of the stock is currently owned by hedge funds and other institutional investors.

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.