CrowdStrike (NASDAQ:CRWD) Stock Price Down 0.7% on Analyst Downgrade

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) fell 0.7% during trading on Tuesday after Sanford C. Bernstein lowered their price target on the stock from $381.00 to $315.00. Sanford C. Bernstein currently has an outperform rating on the stock. CrowdStrike traded as low as $264.39 and last traded at $265.00. 1,623,006 shares were traded during mid-day trading, a decline of 70% from the average session volume of 5,402,419 shares. The stock had previously closed at $266.78.

A number of other analysts also recently issued reports on CRWD. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 price target on shares of CrowdStrike in a report on Friday, June 21st. HSBC cut CrowdStrike from a “buy” rating to a “hold” rating and dropped their target price for the company from $388.00 to $302.00 in a research report on Tuesday, July 23rd. Piper Sandler raised CrowdStrike from a “neutral” rating to an “overweight” rating and reduced their price target for the stock from $310.00 to $290.00 in a report on Tuesday, August 6th. Wells Fargo & Company dropped their price objective on CrowdStrike from $435.00 to $350.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Finally, Mizuho cut 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, six have issued a hold rating, thirty-three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $337.58.

Insider Activity at CrowdStrike

In other CrowdStrike news, CAO Anurag Saha sold 1,662 shares of CrowdStrike stock in a transaction dated Friday, June 21st. The shares were 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 directly owns 40,645 shares in the company, valued at $15,470,706.35. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CAO Anurag Saha sold 1,662 shares of the firm’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 transaction, the chief accounting officer now directly owns 40,645 shares in the company, valued at $15,470,706.35. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Shawn Henry sold 4,500 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $382.93, for a total value of $1,723,185.00. Following the completion of the sale, the insider now owns 200,672 shares in the company, valued at approximately $76,843,328.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 130,219 shares of company stock worth $48,856,294. Company insiders own 4.34% of the company’s stock.

Institutional Investors Weigh In On CrowdStrike

Large investors have recently added to or reduced their stakes in the business. HWG Holdings LP acquired a new position in shares of CrowdStrike in the second quarter worth $2,955,000. EP Wealth Advisors LLC grew its stake in CrowdStrike by 240.7% during the 2nd quarter. EP Wealth Advisors LLC now owns 17,181 shares of the company’s stock worth $6,583,000 after purchasing an additional 12,138 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in CrowdStrike by 2.3% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 17,024 shares of the company’s stock worth $6,523,000 after purchasing an additional 383 shares during the period. Gateway Wealth Partners LLC acquired a new stake in CrowdStrike in the 2nd quarter valued at about $239,000. Finally, Regal Investment Advisors LLC boosted its stake in shares of CrowdStrike by 4.0% in the 2nd quarter. Regal Investment Advisors LLC now owns 3,156 shares of the company’s stock valued at $1,209,000 after buying an additional 122 shares during the period. 71.16% of the stock is owned by hedge funds and other institutional investors.

CrowdStrike Stock Performance

The stock has a 50-day moving average price of $320.41 and a 200 day moving average price of $320.81. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $64.86 billion, a price-to-earnings ratio of 502.89, a P/E/G ratio of 11.79 and a beta of 1.10.

CrowdStrike (NASDAQ:CRWD) last posted its quarterly earnings results on Tuesday, June 4th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.01). CrowdStrike had a return on equity of 7.39% and a net margin of 4.01%. The firm had revenue of $921.04 million for the quarter, compared to analyst estimates of $904.82 million. On average, analysts forecast that CrowdStrike Holdings, Inc. will post 0.87 EPS 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.