CrowdStrike (NASDAQ:CRWD) Lowered to “Hold” Rating by Hsbc Global Res

CrowdStrike (NASDAQ:CRWD) was downgraded by research analysts at Hsbc Global Res from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

Several other research firms have also issued reports on CRWD. Bank of America upped their target price on CrowdStrike from $365.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday. Sanford C. Bernstein decreased their target price on CrowdStrike from $334.00 to $327.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. TD Cowen dropped their price target on CrowdStrike from $400.00 to $380.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Wells Fargo & Company lifted their price objective on CrowdStrike from $350.00 to $400.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $330.00 price objective on shares of CrowdStrike in a research note on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $355.80.

CrowdStrike Stock Down 4.6 %

Shares of NASDAQ:CRWD opened at $347.59 on Wednesday. The business’s 50 day moving average is $314.88 and its 200 day moving average is $313.01. CrowdStrike has a 12-month low of $200.81 and a 12-month high of $398.33. The stock has a market cap of $85.20 billion, a price-to-earnings ratio of 503.75, a PEG ratio of 26.33 and a beta of 1.10. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.26.

CrowdStrike (NASDAQ:CRWD) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. CrowdStrike had a net margin of 4.84% and a return on equity of 8.44%. The firm had revenue of $963.87 million for the quarter, compared to the consensus estimate of $958.27 million. During the same period in the previous year, the firm earned $0.06 EPS. The business’s revenue for the quarter was up 31.7% compared to the same quarter last year. On average, sell-side analysts forecast that CrowdStrike will post 0.49 earnings per share for the current fiscal year.

Insider Activity at CrowdStrike

In other CrowdStrike news, insider Shawn Henry sold 4,500 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $260.73, for a total transaction of $1,173,285.00. Following the completion of the transaction, the insider now owns 174,591 shares of the company’s stock, valued at $45,521,111.43. This represents a 2.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Sameer K. Gandhi sold 5,036 shares of CrowdStrike stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $320.48, for a total value of $1,613,937.28. Following the completion of the sale, the director now owns 816,730 shares in the company, valued at approximately $261,745,630.40. This represents a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 108,248 shares of company stock worth $32,465,110 in the last three months. 4.34% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Beacon Financial Advisory LLC purchased a new stake in CrowdStrike in the third quarter worth about $955,000. Sumitomo Mitsui Trust Group Inc. increased its position in CrowdStrike by 10.2% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 846,189 shares of the company’s stock valued at $237,331,000 after buying an additional 78,305 shares in the last quarter. Burney Co. purchased a new position in CrowdStrike during the first quarter valued at $1,342,000. Doliver Advisors LP boosted its holdings in CrowdStrike by 223.2% in the third quarter. Doliver Advisors LP now owns 6,754 shares of the company’s stock worth $1,894,000 after acquiring an additional 4,664 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of CrowdStrike by 0.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 439,865 shares of the company’s stock worth $124,644,000 after acquiring an additional 2,863 shares during the last quarter. Hedge funds and other institutional investors own 71.16% of the company’s stock.

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.