BTIG Research Lowers CrowdStrike (NASDAQ:CRWD) to Neutral

BTIG Research downgraded shares of CrowdStrike (NASDAQ:CRWD) from a buy rating to a neutral rating in a research note published on Monday morning, MarketBeat reports.

Other equities analysts also recently issued reports about the stock. Mizuho reduced their price objective on shares of CrowdStrike from $390.00 to $370.00 and set a buy rating for the company in a report on Wednesday, June 5th. FBN Securities raised CrowdStrike to a strong-buy rating in a report on Wednesday, June 5th. JPMorgan Chase & Co. increased their target price on CrowdStrike from $371.00 to $400.00 and gave the stock an overweight rating in a report on Wednesday, May 29th. Morgan Stanley boosted their price target on CrowdStrike from $372.00 to $422.00 and gave the company an overweight rating in a research note on Tuesday, May 28th. Finally, Royal Bank of Canada reiterated an outperform rating and set a $420.00 price objective on shares of CrowdStrike in a research note on Wednesday, June 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $359.16.

CrowdStrike Stock Down 1.5 %

CRWD stock opened at $254.15 on Monday. CrowdStrike has a twelve month low of $140.52 and a twelve month high of $398.33. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.29. The company has a market cap of $61.85 billion, a PE ratio of 479.54, a price-to-earnings-growth ratio of 13.55 and a beta of 1.10. The business’s 50-day simple moving average is $355.96 and its 200 day simple moving average is $326.03.

CrowdStrike (NASDAQ:CRWD) last released its quarterly earnings data on Tuesday, June 4th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). The firm had revenue of $921.04 million for the quarter, compared to the consensus estimate of $904.82 million. CrowdStrike had a net margin of 4.01% and a return on equity of 7.39%. On average, research analysts anticipate that CrowdStrike will post 0.9 earnings per share for the current year.

Insider Transactions at CrowdStrike

In related news, Director Roxanne S. Austin sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $390.01, for a total value of $3,900,100.00. Following the sale, the director now directly owns 18,297 shares in the company, valued at approximately $7,136,012.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Anurag Saha sold 1,662 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $380.63, for a total transaction of $632,607.06. Following the sale, the chief accounting officer now owns 40,645 shares of the company’s stock, valued at $15,470,706.35. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Roxanne S. Austin sold 10,000 shares of CrowdStrike stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $390.01, for a total value of $3,900,100.00. Following the transaction, the director now owns 18,297 shares in the company, valued at approximately $7,136,012.97. The disclosure for this sale can be found here. In the last ninety days, insiders sold 219,675 shares of company stock worth $76,931,522. 4.34% of the stock is currently owned by company insiders.

Institutional Trading of CrowdStrike

Several hedge funds have recently bought and sold shares of CRWD. Paulson Wealth Management Inc. acquired a new position in CrowdStrike in the 2nd quarter worth $246,000. AlphaCentric Advisors LLC bought a new stake in CrowdStrike in the 2nd quarter valued at approximately $39,000. Bank of New York Mellon Corp boosted its position in CrowdStrike by 47.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,753,252 shares of the company’s stock worth $671,828,000 after acquiring an additional 564,662 shares during the last quarter. Catalyst Financial Partners LLC bought a new position in shares of CrowdStrike during the 2nd quarter worth approximately $218,000. Finally, Patten Group Inc. raised its holdings in shares of CrowdStrike by 33.5% in the second quarter. Patten Group Inc. now owns 2,146 shares of the company’s stock valued at $822,000 after purchasing an additional 538 shares during the last quarter. 71.16% of the stock is currently owned by institutional investors and hedge funds.

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.