CrowdStrike (NASDAQ:CRWD) Shares Down 3.8% Following Analyst Downgrade

CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s share price was down 3.8% during mid-day trading on Monday after Truist Financial lowered their price target on the stock from $460.00 to $450.00. Truist Financial currently has a buy rating on the stock. CrowdStrike traded as low as $337.89 and last traded at $343.42. Approximately 1,138,577 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 4,886,492 shares. The stock had previously closed at $357.11.

Several other analysts have also recently weighed in on the company. Piper Sandler set a $347.00 price target on CrowdStrike in a report on Wednesday, March 5th. KeyCorp lowered their target price on shares of CrowdStrike from $480.00 to $450.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $440.00 target price on shares of CrowdStrike in a research report on Wednesday, March 5th. Susquehanna lifted their price objective on shares of CrowdStrike from $400.00 to $425.00 and gave the stock a “positive” rating in a report on Wednesday, March 5th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $450.00 target price on shares of CrowdStrike in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $400.00.

Insider Transactions at CrowdStrike

In other news, CAO Anurag Saha sold 1,496 shares of the company’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $358.62, for a total value of $536,495.52. Following the sale, the chief accounting officer now directly owns 36,165 shares of the company’s stock, valued at $12,969,492.30. This represents a 3.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sameer K. Gandhi sold 6,250 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $345.65, for a total transaction of $2,160,312.50. Following the completion of the transaction, the director now owns 811,842 shares of the company’s stock, valued at approximately $280,613,187.30. The trade was a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,801 shares of company stock valued at $42,092,255. Corporate insiders own 4.34% of the company’s stock.

Hedge Funds Weigh In On CrowdStrike

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Empirical Asset Management LLC bought a new position in CrowdStrike during the 4th quarter valued at approximately $11,310,000. Arcadia Investment Management Corp MI grew its stake in shares of CrowdStrike by 30.8% in the fourth quarter. Arcadia Investment Management Corp MI now owns 11,954 shares of the company’s stock worth $4,090,000 after acquiring an additional 2,814 shares during the last quarter. Greenleaf Trust increased its holdings in shares of CrowdStrike by 53.4% during the fourth quarter. Greenleaf Trust now owns 2,967 shares of the company’s stock valued at $1,015,000 after acquiring an additional 1,033 shares in the last quarter. Trifecta Capital Advisors LLC raised its position in shares of CrowdStrike by 2,140.3% in the 4th quarter. Trifecta Capital Advisors LLC now owns 8,961 shares of the company’s stock worth $3,066,000 after purchasing an additional 8,561 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in CrowdStrike by 42.6% in the 4th quarter. Fifth Third Bancorp now owns 44,609 shares of the company’s stock worth $15,263,000 after purchasing an additional 13,323 shares in the last quarter. Institutional investors own 71.16% of the company’s stock.

CrowdStrike Stock Down 3.7 %

The company has a market capitalization of $85.26 billion, a PE ratio of 676.15, a P/E/G ratio of 17.86 and a beta of 1.19. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.86 and a current ratio of 1.86. The company’s 50-day moving average is $388.15 and its 200 day moving average is $349.49.

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.