Stifel Nicolaus Cuts CrowdStrike (NASDAQ:CRWD) Price Target to $300.00

CrowdStrike (NASDAQ:CRWD) had its price objective cut by Stifel Nicolaus from $400.00 to $300.00 in a report issued on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other analysts also recently issued reports on the company. Guggenheim downgraded CrowdStrike from a buy rating to a neutral rating in a report on Monday, July 22nd. JPMorgan Chase & Co. cut their target price on CrowdStrike from $400.00 to $330.00 and set an overweight rating on the stock in a research note on Monday, July 29th. FBN Securities raised shares of CrowdStrike to a strong-buy rating in a report on Wednesday, June 5th. Hsbc Global Res cut shares of CrowdStrike from a strong-buy rating to a hold rating in a report on Tuesday, July 23rd. Finally, Royal Bank of Canada cut their price objective on shares of CrowdStrike from $420.00 to $380.00 and set an outperform rating on the stock in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $348.61.

CrowdStrike Stock Performance

CRWD stock traded up $0.38 during trading on Friday, hitting $240.90. 5,938,890 shares of the company’s stock traded hands, compared to its average volume of 5,446,563. The stock has a market capitalization of $58.63 billion, a price-to-earnings ratio of 454.53, a price-to-earnings-growth ratio of 11.79 and a beta of 1.10. CrowdStrike has a 52 week low of $140.52 and a 52 week high of $398.33. The stock has a fifty day moving average price of $332.51 and a two-hundred day moving average price of $322.63. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.29.

CrowdStrike (NASDAQ:CRWD) last announced its quarterly earnings data on Tuesday, June 4th. The company reported $0.20 earnings per share 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 business had revenue of $921.04 million for the quarter, compared to the consensus estimate of $904.82 million. As a group, equities analysts anticipate that CrowdStrike will post 0.87 EPS for the current fiscal year.

Insider Buying and Selling at CrowdStrike

In other news, CEO George Kurtz sold 55,587 shares of CrowdStrike stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $376.45, for a total value of $20,925,726.15. Following the transaction, the chief executive officer now directly owns 1,127,843 shares of the company’s stock, valued at $424,576,497.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Roxanne S. Austin sold 10,000 shares of the stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $390.01, for a total value of $3,900,100.00. Following the completion of the sale, the director now directly owns 18,297 shares of the company’s stock, valued at approximately $7,136,012.97. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO George Kurtz sold 55,587 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $376.45, for a total value of $20,925,726.15. Following the completion of the transaction, the chief executive officer now owns 1,127,843 shares in the company, valued at approximately $424,576,497.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 147,643 shares of company stock valued at $54,992,604. 4.34% of the stock is currently owned by corporate insiders.

Institutional Trading of CrowdStrike

A number of hedge funds have recently made changes to their positions in CRWD. Norges Bank acquired a new position in CrowdStrike in the 4th quarter valued at approximately $683,336,000. Pathstone Holdings LLC acquired a new stake in CrowdStrike during the fourth quarter valued at $450,418,000. Jennison Associates LLC boosted its position in 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 purchasing an additional 1,581,796 shares during the last quarter. Vanguard Group Inc. grew its stake in CrowdStrike by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 15,746,120 shares of the company’s stock valued at $4,020,299,000 after purchasing an additional 1,028,405 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in CrowdStrike by 47.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,753,252 shares of the company’s stock worth $671,828,000 after purchasing an additional 564,662 shares during the last quarter. 71.16% of the stock is owned by hedge funds and other institutional investors.

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.