CrowdStrike (NASDAQ:CRWD) Cut to "Market Perform" at Sanford C. Bernstein

Sanford C. Bernstein downgraded shares of CrowdStrike (NASDAQ:CRWD - Free Report) from an outperform rating to a market perform rating in a report published on Friday, Marketbeat reports. Sanford C. Bernstein currently has $371.00 price target on the stock.

A number of other research analysts have also commented on CRWD. Stifel Nicolaus raised their price objective on shares of CrowdStrike from $480.00 to $495.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. UBS Group reiterated a "buy" rating on shares of CrowdStrike in a research note on Tuesday, June 3rd. Oppenheimer raised their price objective on shares of CrowdStrike from $410.00 to $520.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. JMP Securities reiterated a "market outperform" rating and set a $500.00 price objective on shares of CrowdStrike in a research note on Wednesday, June 4th. Finally, Needham & Company LLC lifted their price target on shares of CrowdStrike from $420.00 to $530.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, CrowdStrike currently has a consensus rating of "Moderate Buy" and a consensus price target of $450.43.

CrowdStrike Stock Performance

Shares of NASDAQ:CRWD traded down $4.02 during trading hours on Friday, hitting $464.39. The stock had a trading volume of 2,719,060 shares, compared to its average volume of 5,104,738. The stock's fifty day simple moving average is $415.18 and its 200 day simple moving average is $388.50. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.86 and a current ratio of 1.86. The firm has a market capitalization of $115.11 billion, a price-to-earnings ratio of 910.59, a PEG ratio of 17.86 and a beta of 1.16. CrowdStrike has a 1-year low of $200.81 and a 1-year high of $491.20.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last posted its quarterly earnings data on Tuesday, June 3rd. The company reported $0.73 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.07. CrowdStrike had a net margin of 3.39% and a return on equity of 7.11%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the business earned $0.93 earnings per share. The business's revenue for the quarter was up 19.8% on a year-over-year basis. Sell-side analysts anticipate that CrowdStrike will post 0.55 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Shawn Henry sold 4,500 shares of CrowdStrike stock in a transaction on Monday, March 17th. The shares were sold at an average price of $353.00, for a total value of $1,588,500.00. Following the completion of the sale, the insider now owns 89,714 shares of the company's stock, valued at approximately $31,669,042. The trade was a 4.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gerhard Watzinger sold 10,000 shares of CrowdStrike stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $489.00, for a total transaction of $4,890,000.00. Following the completion of the sale, the director now directly owns 29,500 shares of the company's stock, valued at approximately $14,425,500. The trade was a 25.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 211,681 shares of company stock worth $87,081,236 in the last ninety days. Corporate insiders own 3.32% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new stake in CrowdStrike in the fourth quarter valued at about $1,111,542,000. Nuveen LLC bought a new stake in shares of CrowdStrike during the first quarter valued at approximately $595,766,000. Jennison Associates LLC grew its stake in shares of CrowdStrike by 21.1% during the first quarter. Jennison Associates LLC now owns 6,565,275 shares of the company's stock valued at $2,314,785,000 after purchasing an additional 1,144,295 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of CrowdStrike by 50,536.2% during the first quarter. GAMMA Investing LLC now owns 1,086,652 shares of the company's stock valued at $383,132,000 after purchasing an additional 1,084,506 shares during the last quarter. Finally, Pathstone Holdings LLC grew its stake in shares of CrowdStrike by 379.0% during the fourth quarter. Pathstone Holdings LLC now owns 1,286,200 shares of the company's stock valued at $440,116,000 after purchasing an additional 1,017,678 shares during the last quarter. Institutional investors own 71.16% of the company's stock.

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.