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

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) fell 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. 4,163,833 shares traded hands during trading, a decline of 16% from the average session volume of 4,967,566 shares. The stock had previously closed at $258.14.

CRWD has been the topic of a number of other reports. Westpark Capital reissued a “hold” rating on shares of CrowdStrike in a research note on Tuesday. Needham & Company LLC reissued a “buy” rating and issued a $425.00 price target on shares of CrowdStrike in a research report on Wednesday, June 5th. Rosenblatt Securities decreased their price objective on shares of CrowdStrike from $420.00 to $350.00 and set a “buy” rating for the company in a report on Wednesday. Wells Fargo & Company lowered their target price on shares of CrowdStrike from $435.00 to $350.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Piper Sandler cut their target price on shares of CrowdStrike from $400.00 to $310.00 and set a “neutral” rating for the company in a research report on Monday. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $359.16.

Insiders Place Their Bets

In other CrowdStrike news, CAO Anurag Saha sold 1,662 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $380.63, for a total value of $632,607.06. Following the completion of the transaction, the chief accounting officer now directly owns 40,645 shares of the company’s stock, valued at $15,470,706.35. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CAO Anurag Saha sold 1,662 shares of the business’s stock in a transaction on Friday, June 21st. The stock was 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 $15,470,706.35. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Roxanne S. Austin sold 10,000 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $390.01, for a total value of $3,900,100.00. Following the completion of the transaction, the director now owns 18,297 shares in the company, valued at approximately $7,136,012.97. The disclosure for this sale can be found here. Insiders have sold a total of 219,675 shares of company stock valued at $76,931,522 in the last 90 days. 4.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Arlington Financial Advisors LLC increased its stake in shares of CrowdStrike by 1.5% in the 2nd quarter. Arlington Financial Advisors LLC now owns 2,030 shares of the company’s stock valued at $778,000 after acquiring an additional 30 shares during the last quarter. Saturna Capital Corp grew its stake in CrowdStrike by 2.7% in the first quarter. Saturna Capital Corp now owns 1,273 shares of the company’s stock valued at $408,000 after acquiring an additional 33 shares during the period. Means Investment CO. Inc. increased its holdings in shares of CrowdStrike by 1.8% in the second quarter. Means Investment CO. Inc. now owns 1,933 shares of the company’s stock worth $741,000 after acquiring an additional 35 shares in the last quarter. Shepherd Financial Partners LLC raised its position in shares of CrowdStrike by 1.4% during the fourth quarter. Shepherd Financial Partners LLC now owns 2,528 shares of the company’s stock worth $645,000 after purchasing an additional 36 shares during the period. Finally, Cigna Investments Inc. New lifted its holdings in shares of CrowdStrike by 1.7% during the 4th quarter. Cigna Investments Inc. New now owns 2,319 shares of the company’s stock valued at $592,000 after purchasing an additional 38 shares in the last quarter. Institutional investors and hedge funds own 71.16% of the company’s stock.

CrowdStrike Price Performance

The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.80 and a current ratio of 1.80. The firm has a market capitalization of $62.40 billion, a price-to-earnings ratio of 483.78, a price-to-earnings-growth ratio of 13.55 and a beta of 1.10. The company has a 50-day moving average of $357.65 and a 200-day moving average of $326.53.

CrowdStrike (NASDAQ:CRWD) last issued its quarterly earnings results on Tuesday, June 4th. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). CrowdStrike had a net margin of 4.01% and a return on equity of 7.39%. The firm had revenue of $921.04 million during the quarter, compared to the consensus estimate of $904.82 million. As a group, research analysts anticipate 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.