CrowdStrike (NASDAQ:CRWD) Shares Gap Down Following Analyst Downgrade

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) gapped down before the market opened on Wednesday after Barclays lowered their price target on the stock from $506.00 to $475.00. The stock had previously closed at $390.16, but opened at $361.68. Barclays currently has an overweight rating on the stock. CrowdStrike shares last traded at $349.95, with a volume of 4,113,289 shares changing hands.

A number of other brokerages have also recently issued reports on CRWD. Robert W. Baird lowered their price objective on CrowdStrike from $440.00 to $405.00 and set a “neutral” rating for the company in a research note on Wednesday. KeyCorp lifted their price target on CrowdStrike from $395.00 to $480.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. increased their price objective on shares of CrowdStrike from $418.00 to $450.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. BMO Capital Markets raised their price objective on shares of CrowdStrike from $380.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Westpark Capital reiterated a “hold” rating on shares of CrowdStrike in a research note on Wednesday. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-nine have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $393.60.

Insiders Place Their Bets

In other CrowdStrike news, insider Shawn Henry sold 4,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $450.67, for a total transaction of $1,802,680.00. Following the completion of the sale, the insider now directly owns 94,214 shares of the company’s stock, valued at $42,459,423.38. This trade represents a 4.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Anurag Saha sold 1,863 shares of CrowdStrike stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $358.46, for a total transaction of $667,810.98. Following the sale, the chief accounting officer now owns 41,059 shares in the company, valued at approximately $14,718,009.14. The trade was a 4.34 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,315 shares of company stock worth $38,387,254. Corporate insiders own 4.34% of the company’s stock.

Institutional Trading of CrowdStrike

Institutional investors and hedge funds have recently bought and sold shares of the stock. Berbice Capital Management LLC bought a new stake in shares of CrowdStrike in the fourth quarter worth about $27,000. FPC Investment Advisory Inc. grew its holdings in CrowdStrike by 811.1% during the 4th quarter. FPC Investment Advisory Inc. now owns 82 shares of the company’s stock valued at $28,000 after buying an additional 73 shares in the last quarter. Fortitude Family Office LLC increased its stake in CrowdStrike by 112.8% in the 4th quarter. Fortitude Family Office LLC now owns 83 shares of the company’s stock worth $28,000 after acquiring an additional 44 shares during the last quarter. Crowley Wealth Management Inc. purchased a new stake in shares of CrowdStrike during the 4th quarter worth approximately $34,000. Finally, Luken Investment Analytics LLC bought a new position in shares of CrowdStrike during the 4th quarter valued at approximately $34,000. 71.16% of the stock is currently owned by institutional investors.

CrowdStrike Stock Performance

The business’s fifty day moving average is $387.85 and its two-hundred day moving average is $337.82. The stock has a market capitalization of $87.74 billion, a PE ratio of 696.67, a price-to-earnings-growth ratio of 17.86 and a beta of 1.19. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.24.

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.