CrowdStrike (NASDAQ:CRWD) Stock Price Down 1.6% – What’s Next?

CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s share price fell 1.6% during trading on Wednesday . The stock traded as low as $344.47 and last traded at $347.48. 715,335 shares changed hands during trading, a decline of 86% from the average session volume of 4,984,991 shares. The stock had previously closed at $353.29.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CRWD. Westpark Capital restated a “hold” rating on shares of CrowdStrike in a research note on Thursday, September 19th. BNP Paribas began coverage on shares of CrowdStrike in a research note on Tuesday, October 8th. They set a “neutral” rating and a $285.00 price target for the company. Cantor Fitzgerald raised their price target on shares of CrowdStrike from $350.00 to $370.00 and gave the stock an “overweight” rating in a research note on Thursday. Sanford C. Bernstein decreased their price target on shares of CrowdStrike from $334.00 to $327.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. Finally, Piper Sandler restated an “overweight” rating and set a $290.00 price target on shares of CrowdStrike in a research note on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirty have issued a buy rating and four 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 $334.33.

CrowdStrike Price Performance

The company has a debt-to-equity ratio of 0.26, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market capitalization of $88.33 billion, a P/E ratio of 518.19, a P/E/G ratio of 23.89 and a beta of 1.10. The firm’s 50 day simple moving average is $305.77 and its two-hundred day simple moving average is $311.53.

CrowdStrike (NASDAQ:CRWD) last released its quarterly earnings data on Wednesday, August 28th. The company reported $1.04 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $958.27 million. During the same quarter in the previous year, the company earned $0.06 earnings per share. The company’s revenue for the quarter was up 31.7% compared to the same quarter last year. As a group, analysts predict that CrowdStrike Holdings, Inc. will post 0.52 earnings per share for the current year.

Insider Activity at CrowdStrike

In other CrowdStrike news, CAO Anurag Saha sold 1,683 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $297.28, for a total value of $500,322.24. Following the sale, the chief accounting officer now owns 38,962 shares in the company, valued at approximately $11,582,623.36. This represents a 4.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shawn Henry sold 4,500 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 174,591 shares in the company, valued at approximately $45,521,111.43. This trade represents a 2.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 108,248 shares of company stock worth $32,465,110 over the last 90 days. 4.34% of the stock is owned by company insiders.

Institutional Investors Weigh In On CrowdStrike

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Jennison Associates LLC lifted its stake in shares of CrowdStrike by 25.0% in the third quarter. Jennison Associates LLC now owns 5,068,800 shares of the company’s stock worth $1,421,646,000 after buying an additional 1,013,161 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of CrowdStrike by 17,926.3% in the third quarter. International Assets Investment Management LLC now owns 925,831 shares of the company’s stock worth $259,668,000 after buying an additional 920,695 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of CrowdStrike by 1,655.9% in the third quarter. Daiwa Securities Group Inc. now owns 755,951 shares of the company’s stock worth $212,021,000 after buying an additional 712,900 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of CrowdStrike by 47.5% in the second quarter. Bank of New York Mellon Corp now owns 1,753,252 shares of the company’s stock worth $671,828,000 after buying an additional 564,662 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in CrowdStrike by 248.6% during the third quarter. Assenagon Asset Management S.A. now owns 521,198 shares of the company’s stock valued at $146,180,000 after purchasing an additional 371,695 shares during the period. 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.