CrowdStrike (NASDAQ:CRWD) Downgraded by Redburn Atlantic

CrowdStrike (NASDAQ:CRWD) was downgraded by Redburn Atlantic from a “neutral” rating to a “sell” rating in a research note issued on Thursday, Briefing.com reports. They presently have a $275.00 price target on the stock, down from their prior price target of $380.00. Redburn Atlantic’s target price suggests a potential downside of 22.52% from the company’s current price.

Other research analysts have also recently issued research reports about the company. BMO Capital Markets decreased their price target on CrowdStrike from $425.00 to $410.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 5th. Royal Bank of Canada reiterated an “outperform” rating and issued a $420.00 price target on shares of CrowdStrike in a research note on Wednesday, June 5th. DA Davidson dropped their price objective on CrowdStrike from $425.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday, June 5th. JPMorgan Chase & Co. boosted their target price on CrowdStrike from $371.00 to $400.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 29th. Finally, Piper Sandler downgraded shares of CrowdStrike from an “overweight” rating to a “neutral” rating and set a $400.00 price objective for the company. in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $379.00.

CrowdStrike Trading Down 3.8 %

CRWD stock opened at $354.94 on Thursday. CrowdStrike has a 52 week low of $140.52 and a 52 week high of $398.33. The company has a market capitalization of $86.38 billion, a PE ratio of 669.71, a price-to-earnings-growth ratio of 18.60 and a beta of 1.10. The company’s 50-day simple moving average is $361.49 and its 200 day simple moving average is $325.14. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.80 and a current ratio of 1.80.

CrowdStrike (NASDAQ:CRWD) last announced its earnings results on Tuesday, June 4th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.01). The business had revenue of $921.04 million for the quarter, compared to the consensus estimate of $904.82 million. CrowdStrike had a return on equity of 7.39% and a net margin of 4.01%. As a group, sell-side analysts anticipate that CrowdStrike will post 0.9 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO George Kurtz sold 56,279 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $304.41, for a total transaction of $17,131,890.39. Following the completion of the sale, the chief executive officer now owns 1,146,048 shares in the company, valued at $348,868,471.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO George Kurtz sold 56,279 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $304.41, for a total value of $17,131,890.39. Following the transaction, the chief executive officer now owns 1,146,048 shares in the company, valued at $348,868,471.68. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Burt W. Podbere sold 15,753 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $305.15, for a total value of $4,807,027.95. Following the completion of the sale, the chief financial officer now directly owns 313,994 shares of the company’s stock, valued at $95,815,269.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 219,675 shares of company stock valued at $76,931,522. 4.34% of the stock is owned by insiders.

Institutional Investors Weigh In On CrowdStrike

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRWD. Swedbank AB grew its stake in CrowdStrike by 5.3% in the 2nd quarter. Swedbank AB now owns 242,944 shares of the company’s stock valued at $93,094,000 after buying an additional 12,208 shares in the last quarter. Rockingstone Advisors LLC grew its position in shares of CrowdStrike by 0.4% in the second quarter. Rockingstone Advisors LLC now owns 10,382 shares of the company’s stock valued at $3,978,000 after purchasing an additional 46 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of CrowdStrike during the 2nd quarter valued at $185,000. Mcdonald Partners LLC purchased a new stake in CrowdStrike during the 2nd quarter worth about $246,000. Finally, Atticus Wealth Management LLC boosted its stake in CrowdStrike by 89.8% in the 2nd quarter. Atticus Wealth Management LLC now owns 224 shares of the company’s stock worth $86,000 after purchasing an additional 106 shares during the period. 71.16% of the stock is currently owned by 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.