CrowdStrike (NASDAQ:CRWD) Trading Down 2.5% Following Analyst Downgrade

CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s stock price dropped 2.5% during trading on Friday after KeyCorp lowered their price target on the stock from $430.00 to $376.00. KeyCorp currently has an overweight rating on the stock. CrowdStrike traded as low as $283.77 and last traded at $286.66. Approximately 995,159 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 3,587,264 shares. The stock had previously closed at $294.10.

Several other equities analysts have also recently issued reports on CRWD. BTIG Research raised their price objective on CrowdStrike from $322.00 to $432.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Truist Financial lifted their price target on shares of CrowdStrike from $350.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Evercore ISI raised their target price on shares of CrowdStrike from $255.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, March 6th. JMP Securities lifted their target price on CrowdStrike from $330.00 to $400.00 and gave the company a “market outperform” rating in a research note on Wednesday, March 6th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price target on shares of CrowdStrike in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and thirty-seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $371.87.

Insiders Place Their Bets

In other news, insider Shawn Henry sold 4,000 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $308.79, for a total transaction of $1,235,160.00. Following the completion of the sale, the insider now owns 208,961 shares in the company, valued at approximately $64,525,067.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other CrowdStrike news, insider Shawn Henry sold 4,000 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $308.79, for a total transaction of $1,235,160.00. Following the sale, the insider now owns 208,961 shares in the company, valued at approximately $64,525,067.19. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Anurag Saha sold 1,019 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $325.80, for a total transaction of $331,990.20. Following the completion of the transaction, the chief accounting officer now owns 36,136 shares of the company’s stock, valued at $11,773,108.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 223,544 shares of company stock worth $72,113,932. 5.68% of the stock is owned by insiders.

Hedge Funds Weigh In On CrowdStrike

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Shepherd Financial Partners LLC increased its holdings in shares of CrowdStrike by 1.4% in the 4th quarter. Shepherd Financial Partners LLC now owns 2,528 shares of the company’s stock valued at $645,000 after purchasing an additional 36 shares during the period. Cigna Investments Inc. New grew its position in CrowdStrike by 1.7% during the fourth 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. Pier 88 Investment Partners LLC increased its stake in CrowdStrike by 0.9% in the 4th quarter. Pier 88 Investment Partners LLC now owns 4,690 shares of the company’s stock valued at $1,197,000 after buying an additional 40 shares during the period. GAMMA Investing LLC lifted its position in CrowdStrike by 18.5% in the 1st quarter. GAMMA Investing LLC now owns 282 shares of the company’s stock worth $90,000 after buying an additional 44 shares in the last quarter. Finally, Fagan Associates Inc. lifted its position in CrowdStrike by 0.5% in the 4th quarter. Fagan Associates Inc. now owns 9,650 shares of the company’s stock worth $2,464,000 after buying an additional 45 shares in the last quarter. 71.16% of the stock is currently owned by hedge funds and other institutional investors.

CrowdStrike Stock Down 2.9 %

The business’s 50 day simple moving average is $318.65 and its 200-day simple moving average is $262.91. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.76 and a current ratio of 1.76. The company has a market cap of $69.06 billion, a price-to-earnings ratio of 796.30, a price-to-earnings-growth ratio of 11.75 and a beta of 1.05.

CrowdStrike (NASDAQ:CRWD) last released its quarterly earnings data on Tuesday, March 5th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.06. CrowdStrike had a return on equity of 6.09% and a net margin of 2.92%. The firm had revenue of $845.34 million during the quarter, compared to analysts’ expectations of $839.08 million. Sell-side analysts expect that CrowdStrike Holdings, Inc. will post 1.12 earnings per share for the current 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.