CrowdStrike (NASDAQ:CRWD) Downgraded by BTIG Research to Neutral

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

Several other research analysts also recently issued reports on CRWD. Piper Sandler downgraded CrowdStrike from an overweight rating to a neutral rating and set a $400.00 price objective for the company. in a research report on Tuesday, July 2nd. Evercore ISI reduced their price objective on CrowdStrike from $405.00 to $350.00 and set an outperform rating on the stock in a research report on Friday, July 19th. Guggenheim reiterated a buy rating and set a $424.00 price objective on shares of CrowdStrike in a research report on Tuesday, June 25th. Rosenblatt Securities upped their target price on shares of CrowdStrike from $415.00 to $420.00 and gave the company a buy rating in a report on Wednesday, June 5th. Finally, Royal Bank of Canada reiterated an outperform rating and set a $420.00 price target on shares of CrowdStrike in a report on Wednesday, June 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, CrowdStrike has an average rating of Moderate Buy and a consensus price target of $359.16.

CrowdStrike Stock Performance

Shares of CRWD stock opened at $254.15 on Monday. The stock has a fifty day moving average price of $355.96 and a 200 day moving average price of $326.03. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.80 and a current ratio of 1.80. The stock has a market cap of $61.85 billion, a PE ratio of 479.54, a P/E/G ratio of 13.55 and a beta of 1.10. CrowdStrike has a 1 year low of $140.52 and a 1 year high of $398.33.

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

Insider Buying and Selling

In other CrowdStrike news, CAO Anurag Saha sold 1,662 shares of the firm’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $380.63, for a total transaction of $632,607.06. Following the completion of the transaction, the chief accounting officer now directly owns 40,645 shares of the company’s stock, valued at approximately $15,470,706.35. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other CrowdStrike news, insider Shawn Henry sold 4,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $333.52, for a total transaction of $1,334,080.00. Following the transaction, the insider now owns 204,961 shares of the company’s stock, valued at approximately $68,358,592.72. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Anurag Saha sold 1,662 shares of CrowdStrike stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $380.63, for a total value of $632,607.06. Following the completion of the transaction, the chief accounting officer now owns 40,645 shares of the company’s stock, valued at approximately $15,470,706.35. The disclosure for this sale can be found here. Over the last quarter, insiders sold 219,675 shares of company stock worth $76,931,522. Insiders own 4.34% of the company’s stock.

Hedge Funds Weigh In On CrowdStrike

A number of hedge funds have recently added to or reduced their stakes in the business. Family Firm Inc. acquired a new stake in shares of CrowdStrike during the second quarter worth $30,000. Unique Wealth Strategies LLC bought a new position in CrowdStrike in the second quarter worth about $36,000. Trivant Custom Portfolio Group LLC acquired a new position in CrowdStrike in the first quarter valued at approximately $30,000. Hobbs Group Advisors LLC bought a new position in shares of CrowdStrike during the second quarter valued at approximately $38,000. Finally, CVA Family Office LLC acquired a new stake in shares of CrowdStrike during the 4th quarter worth approximately $26,000. Institutional investors and hedge funds own 71.16% of the company’s stock.

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.