CrowdStrike (NASDAQ:CRWD) Downgraded by Piper Sandler to “Neutral”

Piper Sandler lowered shares of CrowdStrike (NASDAQ:CRWD) from an overweight rating to a neutral rating in a report issued on Monday morning, Marketbeat.com reports. They currently have $505.00 price target on the stock.

Several other brokerages have also recently commented on CRWD. Canaccord Genuity Group reissued a “hold” rating and set a $475.00 target price (up previously from $420.00) on shares of CrowdStrike in a report on Wednesday, June 4th. Raymond James Financial reaffirmed an “outperform” rating and issued a $485.00 price target (up previously from $390.00) on shares of CrowdStrike in a report on Wednesday, June 4th. Royal Bank Of Canada upped their price target on CrowdStrike from $500.00 to $510.00 and gave the company an “outperform” rating in a report on Wednesday, June 4th. BMO Capital Markets upped their price target on CrowdStrike from $405.00 to $500.00 and gave the company an “outperform” rating in a report on Wednesday, June 4th. Finally, Wedbush upped their price target on CrowdStrike from $475.00 to $525.00 and gave the company an “outperform” rating in a report on Tuesday, June 3rd. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $453.88.

CrowdStrike Stock Performance

CRWD opened at $513.51 on Monday. The business’s 50 day moving average is $468.34 and its 200-day moving average is $409.08. The stock has a market cap of $127.99 billion, a PE ratio of -744.22 and a beta of 1.16. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.21. CrowdStrike has a twelve month low of $200.81 and a twelve month high of $517.98.

CrowdStrike (NASDAQ:CRWD) last announced its earnings results on Tuesday, June 3rd. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.66 by $0.07. CrowdStrike had a positive return on equity of 0.43% and a negative net margin of 4.17%. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the previous year, the company earned $0.93 earnings per share. The firm’s quarterly revenue was up 19.8% compared to the same quarter last year. On average, analysts predict that CrowdStrike will post 0.55 earnings per share for the current year.

Insider Activity

In other CrowdStrike news, Director Roxanne S. Austin sold 15,000 shares of the business’s stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $497.67, for a total transaction of $7,465,050.00. Following the completion of the transaction, the director owned 18,858 shares of the company’s stock, valued at $9,385,060.86. The trade was a 44.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Michael Sentonas sold 25,000 shares of the business’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $477.00, for a total transaction of $11,925,000.00. Following the transaction, the president directly owned 422,204 shares of the company’s stock, valued at approximately $201,391,308. This represents a 5.59% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 255,821 shares of company stock worth $118,672,681. Insiders own 3.32% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CRWD. Norges Bank acquired a new position in CrowdStrike during the 4th quarter worth $1,111,542,000. Nuveen LLC acquired a new position in CrowdStrike during the 1st quarter worth $595,766,000. Jennison Associates LLC raised its position in shares of CrowdStrike by 21.1% during the first quarter. Jennison Associates LLC now owns 6,565,275 shares of the company’s stock valued at $2,314,785,000 after buying an additional 1,144,295 shares during the last quarter. GAMMA Investing LLC raised its position in shares of CrowdStrike by 50,536.2% during the first quarter. GAMMA Investing LLC now owns 1,086,652 shares of the company’s stock valued at $383,132,000 after buying an additional 1,084,506 shares during the last quarter. Finally, Pathstone Holdings LLC raised its position in shares of CrowdStrike by 379.0% during the fourth quarter. Pathstone Holdings LLC now owns 1,286,200 shares of the company’s stock valued at $440,116,000 after buying an additional 1,017,678 shares during the last quarter. Institutional investors and hedge funds 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.