CrowdStrike (NASDAQ:CRWD) Trading Down 0.7% After Analyst Downgrade

Shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) were down 0.7% on Thursday after Citigroup lowered their price target on the stock from $425.00 to $345.00. Citigroup currently has a buy rating on the stock. CrowdStrike traded as low as $250.22 and last traded at $256.40. Approximately 4,163,833 shares were traded during trading, a decline of 16% from the average daily volume of 4,967,566 shares. The stock had previously closed at $258.14.

Several other research analysts have also recently issued reports on CRWD. HSBC cut shares of CrowdStrike from a “buy” rating to a “hold” rating and cut their target price for the stock from $388.00 to $302.00 in a report on Tuesday. Wedbush cut their price target on shares of CrowdStrike from $385.00 to $315.00 and set an “outperform” rating on the stock in a report on Wednesday. Hsbc Global Res cut shares of CrowdStrike from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Truist Financial dropped their target price on shares of CrowdStrike from $400.00 to $325.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Redburn Atlantic downgraded CrowdStrike from a “neutral” rating to a “sell” rating and reduced their price target for the company from $380.00 to $275.00 in a report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, CrowdStrike has an average rating of “Moderate Buy” and a consensus price target of $359.16.

Insiders Place Their Bets

In related news, insider Shawn Henry sold 4,000 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $371.32, for a total value of $1,485,280.00. Following the completion of the transaction, the insider now owns 183,091 shares of the company’s stock, valued at approximately $67,985,350.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO George Kurtz sold 56,279 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $304.41, for a total transaction of $17,131,890.39. Following the completion of the transaction, the chief executive officer now directly owns 1,146,048 shares of the company’s stock, valued at $348,868,471.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shawn Henry sold 4,000 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $371.32, for a total value of $1,485,280.00. Following the transaction, the insider now directly owns 183,091 shares of the company’s stock, valued at $67,985,350.12. The disclosure for this sale can be found here. Insiders sold a total of 219,675 shares of company stock worth $76,931,522 over the last three months. 4.34% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CrowdStrike

Large investors have recently bought and sold shares of the business. HB Wealth Management LLC increased its position in shares of CrowdStrike by 40.9% during the 4th quarter. HB Wealth Management LLC now owns 2,432 shares of the company’s stock valued at $621,000 after purchasing an additional 706 shares during the last quarter. CVA Family Office LLC purchased a new stake in CrowdStrike in the fourth quarter worth $26,000. Raymond James Financial Services Advisors Inc. lifted its position in shares of CrowdStrike by 16.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 123,465 shares of the company’s stock worth $31,523,000 after purchasing an additional 17,363 shares during the last quarter. Pacer Advisors Inc. increased its stake in CrowdStrike by 30.4% in the 4th quarter. Pacer Advisors Inc. now owns 17,418 shares of the company’s stock worth $4,447,000 after buying an additional 4,064 shares during the period. Finally, Kingswood Wealth Advisors LLC purchased a new stake in CrowdStrike in the 4th quarter valued at about $555,000. Institutional investors own 71.16% of the company’s stock.

CrowdStrike Stock Performance

The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $62.40 billion, a PE ratio of 483.78, a PEG ratio of 13.55 and a beta of 1.10. The firm’s 50-day simple moving average is $357.65 and its 200-day simple moving average is $326.53.

CrowdStrike (NASDAQ:CRWD) last issued its earnings results on Tuesday, June 4th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.01). The firm had revenue of $921.04 million during the quarter, compared to analysts’ expectations of $904.82 million. CrowdStrike had a return on equity of 7.39% and a net margin of 4.01%. On average, research analysts predict that CrowdStrike Holdings, Inc. will post 0.9 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.