CrowdStrike (NASDAQ:CRWD) Stock Price Down 9.1% Following Analyst Downgrade

Shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) traded down 9.1% on Tuesday after Evercore ISI lowered their price target on the stock from $350.00 to $325.00. Evercore ISI currently has an outperform rating on the stock. CrowdStrike traded as low as $234.18 and last traded at $235.21. 9,816,811 shares traded hands during trading, an increase of 92% from the average session volume of 5,123,691 shares. The stock had previously closed at $258.81.

A number of other research analysts also recently issued reports on the company. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price target on shares of CrowdStrike in a research note on Friday, June 21st. Scotiabank lowered shares of CrowdStrike from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the company from $393.00 to $300.00 in a research note on Monday, July 22nd. JPMorgan Chase & Co. decreased their target price on shares of CrowdStrike from $400.00 to $330.00 and set an “overweight” rating for the company in a research note on Monday. Rosenblatt Securities dropped their price target on CrowdStrike from $420.00 to $350.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, Mizuho decreased their price objective on CrowdStrike from $390.00 to $370.00 and set a “buy” rating for the company in a research report on Wednesday, June 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $354.39.

Insider Buying and Selling

In other CrowdStrike news, CEO George Kurtz sold 56,279 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $348,868,471.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Burt W. Podbere sold 15,753 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $305.15, for a total value of $4,807,027.95. Following the sale, the chief financial officer now directly owns 313,994 shares in the company, valued at $95,815,269.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO George Kurtz sold 56,279 shares of CrowdStrike stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $304.41, for a total value of $17,131,890.39. Following the sale, the chief executive officer now owns 1,146,048 shares of the company’s stock, valued at approximately $348,868,471.68. The disclosure for this sale can be found here. Insiders have sold 219,675 shares of company stock worth $76,931,522 in the last three months. Corporate insiders own 4.34% of the company’s stock.

Institutional Investors Weigh In On CrowdStrike

Several hedge funds have recently modified their holdings of CRWD. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of CrowdStrike by 1.4% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 50,297 shares of the company’s stock valued at $19,273,000 after buying an additional 705 shares during the period. iA Global Asset Management Inc. raised its holdings in CrowdStrike by 5.9% in the 2nd quarter. iA Global Asset Management Inc. now owns 22,660 shares of the company’s stock valued at $8,683,000 after acquiring an additional 1,272 shares during the last quarter. Signaturefd LLC lifted its stake in shares of CrowdStrike by 9.7% during the 2nd quarter. Signaturefd LLC now owns 4,360 shares of the company’s stock worth $1,671,000 after purchasing an additional 386 shares during the period. Global Financial Private Client LLC boosted its holdings in shares of CrowdStrike by 4.3% during the second quarter. Global Financial Private Client LLC now owns 1,071 shares of the company’s stock worth $410,000 after purchasing an additional 44 shares during the last quarter. Finally, Crossmark Global Holdings Inc. grew its position in shares of CrowdStrike by 305.1% in the second quarter. Crossmark Global Holdings Inc. now owns 12,441 shares of the company’s stock valued at $4,767,000 after purchasing an additional 9,370 shares during the period. 71.16% of the stock is owned by institutional investors and hedge funds.

CrowdStrike Price Performance

The company has a 50 day moving average of $352.36 and a 200 day moving average of $326.49. The stock has a market capitalization of $56.59 billion, a price-to-earnings ratio of 443.80, a price-to-earnings-growth ratio of 13.09 and a beta of 1.10. 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 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). The company had revenue of $921.04 million for 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%. As a group, equities research analysts forecast that CrowdStrike Holdings, Inc. will post 0.9 EPS for the current fiscal 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.