CrowdStrike (NASDAQ:CRWD) Trading Down 8.6% Following Analyst Downgrade

Shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) fell 8.6% during mid-day trading on Wednesday after Stifel Nicolaus lowered their price target on the stock from $475.00 to $435.00. Stifel Nicolaus currently has a buy rating on the stock. CrowdStrike traded as low as $343.00 and last traded at $356.50. 7,302,792 shares were traded during mid-day trading, an increase of 105% from the average session volume of 3,568,453 shares. The stock had previously closed at $390.16.

Other equities analysts have also issued reports about the company. HSBC lowered CrowdStrike from a “buy” rating to a “hold” rating and set a $347.00 target price for the company. in a report on Wednesday, November 27th. Jefferies Financial Group raised their target price on CrowdStrike from $415.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Citigroup reissued a “buy” rating on shares of CrowdStrike in a report on Wednesday, February 5th. Cantor Fitzgerald raised their price objective on shares of CrowdStrike from $350.00 to $370.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Finally, BMO Capital Markets boosted their target price on shares of CrowdStrike from $380.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, CrowdStrike has a consensus rating of “Moderate Buy” and an average price target of $394.23.

Insider Activity at CrowdStrike

In other news, insider Shawn Henry sold 4,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $450.67, for a total transaction of $1,802,680.00. Following the transaction, the insider now directly owns 94,214 shares in the company, valued at approximately $42,459,423.38. This represents a 4.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sameer K. Gandhi sold 17,120 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $428.13, for a total value of $7,329,585.60. Following the completion of the sale, the director now owns 780,592 shares of the company’s stock, valued at $334,194,852.96. The trade was a 2.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 100,315 shares of company stock valued at $38,387,254 over the last 90 days. 4.34% of the stock is owned by insiders.

Hedge Funds Weigh In On CrowdStrike

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in CrowdStrike by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 21,926,011 shares of the company’s stock valued at $7,502,204,000 after buying an additional 342,294 shares during the period. State Street Corp lifted its stake in shares of CrowdStrike by 2.9% in the 3rd quarter. State Street Corp now owns 9,630,776 shares of the company’s stock valued at $2,701,144,000 after acquiring an additional 275,717 shares during the last quarter. Jennison Associates LLC boosted its holdings in CrowdStrike by 6.9% during the 4th quarter. Jennison Associates LLC now owns 5,420,980 shares of the company’s stock valued at $1,854,843,000 after acquiring an additional 352,180 shares during the period. Geode Capital Management LLC grew its position in CrowdStrike by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 5,018,441 shares of the company’s stock worth $1,712,063,000 after acquiring an additional 124,984 shares during the last quarter. Finally, Norges Bank bought a new position in CrowdStrike during the 4th quarter worth approximately $1,111,542,000. Institutional investors own 71.16% of the company’s stock.

CrowdStrike Stock Down 8.8 %

The firm has a market capitalization of $87.61 billion, a PE ratio of 698.09, a PEG ratio of 17.86 and a beta of 1.19. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.24. The stock has a 50 day simple moving average of $387.85 and a 200 day simple moving average of $337.82.

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.