CrowdStrike (NASDAQ:CRWD) Stock Price Down 4.9% After Analyst Downgrade

CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s stock price traded down 4.9% on Wednesday after Hsbc Global Res downgraded the stock from a strong-buy rating to a hold rating. The stock traded as low as $343.34 and last traded at $346.57. 4,476,545 shares were traded during trading, a decline of 10% from the average session volume of 4,987,993 shares. The stock had previously closed at $364.30.

Other equities research analysts have also recently issued reports about the stock. The Goldman Sachs Group lowered their price objective on shares of CrowdStrike from $400.00 to $295.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Oppenheimer increased their price objective on CrowdStrike from $365.00 to $410.00 and gave the stock an “outperform” rating in a research note on Wednesday. Susquehanna lifted their target price on CrowdStrike from $310.00 to $400.00 and gave the company a “positive” rating in a research report on Wednesday. Needham & Company LLC increased their price target on CrowdStrike from $360.00 to $420.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Raymond James decreased their price objective on CrowdStrike from $380.00 to $275.00 and set an “outperform” rating for the company in a report on Thursday, August 29th. One investment 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $355.80.

Insiders Place Their Bets

In other news, insider Shawn Henry sold 4,000 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $340.44, for a total value of $1,361,760.00. Following the sale, the insider now owns 120,298 shares in the company, valued at $40,954,251.12. This represents a 3.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 shares were sold at an average price of $320.48, for a total value of $1,613,937.28. Following the transaction, the director now owns 816,730 shares of the company’s stock, 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. In the last ninety days, insiders sold 108,248 shares of company stock valued at $32,465,110. 4.34% of the stock is owned by insiders.

Institutional Investors Weigh In On CrowdStrike

Several hedge funds have recently modified their holdings of CRWD. Quent Capital LLC grew its stake in CrowdStrike by 59.9% in the 1st quarter. Quent Capital LLC now owns 235 shares of the company’s stock valued at $75,000 after acquiring an additional 88 shares during the period. Silvercrest Asset Management Group LLC purchased a new position in CrowdStrike in the 1st quarter valued at about $218,000. Citizens Financial Group Inc. RI boosted its holdings in CrowdStrike by 6.0% in the 1st quarter. Citizens Financial Group Inc. RI now owns 831 shares of the company’s stock worth $266,000 after buying an additional 47 shares during the last quarter. Virtu Financial LLC purchased a new stake in CrowdStrike during the 1st quarter worth approximately $769,000. Finally, LRI Investments LLC acquired a new position in shares of CrowdStrike during the first quarter valued at approximately $147,000. 71.16% of the stock is owned by hedge funds and other institutional investors.

CrowdStrike Stock Performance

The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.26. The firm has a 50-day moving average price of $314.88 and a two-hundred day moving average price of $313.01. The firm has a market cap of $85.20 billion, a PE ratio of 503.75, a P/E/G ratio of 26.33 and a beta of 1.10.

CrowdStrike (NASDAQ:CRWD) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. CrowdStrike had a return on equity of 8.44% and a net margin of 4.84%. The company had revenue of $963.87 million for the quarter, compared to analyst estimates of $958.27 million. During the same quarter last year, the firm posted $0.06 EPS. The firm’s revenue for the quarter was up 31.7% on a year-over-year basis. Research analysts forecast that CrowdStrike Holdings, Inc. will post 0.49 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.