CrowdStrike (NASDAQ:CRWD) Trading Down 4.8% – What’s Next?

CrowdStrike (NASDAQ:CRWD) shares fell 4.8% during trading on Tuesday . The company traded as low as $493.45 and last traded at $484.99. 1,091,805 shares traded hands during trading, a decline of 77% from the average session volume of 4,760,421 shares. The stock had previously closed at $509.31.

Analyst Ratings Changes

A number of research firms recently commented on CRWD. Sanford C. Bernstein downgraded CrowdStrike from an “outperform” rating to a “market perform” rating and set a $371.00 target price for the company. in a report on Friday, June 6th. Oppenheimer raised their target price on shares of CrowdStrike from $410.00 to $520.00 and gave the stock an “outperform” rating in a report on Wednesday, June 4th. Barclays set a $500.00 price target on shares of CrowdStrike in a report on Tuesday, June 3rd. DZ Bank lowered CrowdStrike from a “strong-buy” rating to a “strong sell” rating and set a $370.00 price objective for the company. in a research note on Thursday, May 22nd. Finally, Guggenheim restated a “neutral” rating on shares of CrowdStrike in a research note on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $453.88.

CrowdStrike Stock Performance

The company has a market cap of $122.72 billion, a price-to-earnings ratio of -713.62 and a beta of 1.16. The firm’s 50 day simple moving average is $455.02 and its 200-day simple moving average is $402.80. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.85 and a current ratio of 1.85.

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

Insiders Place Their Bets

In related news, CEO George Kurtz sold 17,525 shares of the company’s stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $477.62, for a total value of $8,370,290.50. Following the completion of the sale, the chief executive officer owned 2,175,154 shares of the company’s stock, valued at approximately $1,038,897,053.48. This represents a 0.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Roxanne S. Austin sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $497.67, for a total transaction of $7,465,050.00. Following the sale, the director owned 18,858 shares of the company’s stock, valued at approximately $9,385,060.86. The trade was a 44.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 245,821 shares of company stock worth $112,370,959. 3.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in CrowdStrike in the fourth quarter valued at $1,111,542,000. Nuveen LLC acquired a new stake in shares of CrowdStrike during the 1st quarter worth about $595,766,000. Jennison Associates LLC raised its holdings in CrowdStrike by 21.1% in the 1st 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 period. GAMMA Investing LLC raised its holdings in CrowdStrike by 50,536.2% in the 1st 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 period. Finally, Pathstone Holdings LLC lifted its position in CrowdStrike by 379.0% in 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. 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.