Wells Fargo & Company Trims CrowdStrike (NASDAQ:CRWD) Target Price to $350.00

CrowdStrike (NASDAQ:CRWD) had its price objective trimmed by Wells Fargo & Company from $435.00 to $350.00 in a report issued on Monday, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other analysts have also weighed in on CRWD. Needham & Company LLC reiterated a buy rating and issued a $425.00 price objective on shares of CrowdStrike in a research note on Wednesday, June 5th. Oppenheimer increased their price objective on shares of CrowdStrike from $355.00 to $400.00 and gave the stock an outperform rating in a research note on Wednesday, June 5th. FBN Securities upgraded shares of CrowdStrike to a strong-buy rating in a research note on Wednesday, June 5th. JMP Securities reiterated a market outperform rating and issued a $400.00 price objective on shares of CrowdStrike in a research note on Tuesday, May 14th. Finally, Canaccord Genuity Group reiterated a buy rating and issued a $405.00 price objective on shares of CrowdStrike in a research note on Monday. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $359.16.

CrowdStrike Trading Down 4.0 %

Shares of CrowdStrike stock opened at $258.14 on Monday. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.29. CrowdStrike has a 12-month low of $140.52 and a 12-month high of $398.33. The firm has a market capitalization of $62.82 billion, a price-to-earnings ratio of 487.06, a PEG ratio of 13.30 and a beta of 1.10. The firm’s 50 day simple moving average is $357.65 and its two-hundred day simple moving average is $326.53.

CrowdStrike (NASDAQ:CRWD) last issued its quarterly earnings results on Tuesday, June 4th. The company reported $0.20 earnings per share (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 company had revenue of $921.04 million for the quarter, compared to analyst estimates of $904.82 million. Analysts predict that CrowdStrike will post 0.9 EPS for the current year.

Insider Transactions at CrowdStrike

In related news, insider Shawn Henry sold 4,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $371.32, for a total transaction of $1,485,280.00. Following the completion of the sale, the insider now directly owns 183,091 shares in the company, valued at $67,985,350.12. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CAO Anurag Saha sold 1,662 shares of the firm’s 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Shawn Henry sold 4,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $371.32, for a total transaction of $1,485,280.00. Following the sale, the insider now owns 183,091 shares of the company’s stock, valued at $67,985,350.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 219,675 shares of company stock valued at $76,931,522. Corporate insiders own 4.34% of the company’s stock.

Institutional Investors Weigh In On CrowdStrike

A number of institutional investors have recently made changes to their positions in CRWD. Norges Bank acquired a new stake in shares of CrowdStrike during the fourth quarter valued at about $683,336,000. Pathstone Holdings LLC acquired a new stake in shares of CrowdStrike during the fourth quarter valued at about $450,418,000. Jennison Associates LLC increased its position in shares of CrowdStrike by 33.2% during the fourth quarter. Jennison Associates LLC now owns 6,340,819 shares of the company’s stock valued at $1,618,938,000 after acquiring an additional 1,581,796 shares during the last quarter. Vanguard Group Inc. increased its position in shares of CrowdStrike by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 15,746,120 shares of the company’s stock valued at $4,020,299,000 after acquiring an additional 1,028,405 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of CrowdStrike by 22,542.6% during the fourth quarter. International Assets Investment Management LLC now owns 734,300 shares of the company’s stock valued at $187,481,000 after acquiring an additional 731,057 shares during the last quarter. 71.16% of the stock is currently owned by institutional investors and hedge funds.

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.