CrowdStrike (NASDAQ:CRWD) Lowered to Neutral Rating by Piper Sandler

CrowdStrike (NASDAQ:CRWD - Get Free Report) was downgraded by equities research analysts at Piper Sandler from an "overweight" rating to a "neutral" rating in a research report issued to clients and investors on Monday, Marketbeat reports. They presently have a $505.00 target price on the stock. Piper Sandler's target price would suggest a potential downside of 0.09% from the stock's previous close.

CRWD has been the topic of a number of other reports. Roth Capital increased their price target on shares of CrowdStrike from $410.00 to $420.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Barclays set a $500.00 price objective on shares of CrowdStrike in a report on Tuesday, June 3rd. Morgan Stanley increased their price objective on shares of CrowdStrike from $455.00 to $490.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. DZ Bank downgraded shares of CrowdStrike from a "strong-buy" rating to a "strong sell" rating and set a $370.00 price objective on the stock. in a report on Thursday, May 22nd. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $500.00 target price on shares of CrowdStrike in a research note on Wednesday, June 4th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $453.88.

CrowdStrike Stock Performance

CrowdStrike stock traded down $8.64 during mid-day trading on Monday, reaching $505.46. 3,263,799 shares of the company traded hands, compared to its average volume of 4,784,538. The company has a market capitalization of $125.99 billion, a price-to-earnings ratio of -732.55 and a beta of 1.16. CrowdStrike has a fifty-two week low of $200.81 and a fifty-two week high of $517.98. The firm's fifty day moving average is $463.46 and its two-hundred day moving average is $406.65. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.85 and a quick ratio of 1.85.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last announced its quarterly earnings results on Tuesday, June 3rd. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.07. CrowdStrike had a negative net margin of 4.17% and a positive return on equity of 0.43%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the firm posted $0.93 earnings per share. The firm's quarterly revenue was up 19.8% compared to the same quarter last year. On average, equities research analysts expect that CrowdStrike will post 0.55 earnings per share for the current fiscal year.

Insider Buying and Selling at CrowdStrike

In other news, CEO George Kurtz sold 55,556 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $447.54, for a total transaction of $24,863,532.24. Following the transaction, the chief executive officer directly owned 2,192,610 shares in the company, valued at $981,280,679.40. This represents a 2.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Michael Sentonas sold 25,000 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $477.00, for a total transaction of $11,925,000.00. Following the transaction, the president owned 422,204 shares in the company, valued at approximately $201,391,308. The trade was a 5.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 249,571 shares of company stock worth $115,469,993. 3.32% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. RF&L Wealth Management LLC raised its holdings in CrowdStrike by 28.6% in the second quarter. RF&L Wealth Management LLC now owns 4,500 shares of the company's stock valued at $2,292,000 after buying an additional 1,000 shares during the period. Capital Asset Advisory Services LLC raised its holdings in CrowdStrike by 9.0% in the second quarter. Capital Asset Advisory Services LLC now owns 791 shares of the company's stock valued at $389,000 after buying an additional 65 shares during the period. Whitaker Myers Wealth Managers LTD. raised its holdings in CrowdStrike by 11.0% in the second quarter. Whitaker Myers Wealth Managers LTD. now owns 1,471 shares of the company's stock valued at $749,000 after buying an additional 146 shares during the period. Modus Advisors LLC raised its holdings in CrowdStrike by 12.2% in the second quarter. Modus Advisors LLC now owns 7,282 shares of the company's stock valued at $3,709,000 after buying an additional 789 shares during the period. Finally, First Community Trust NA grew its position in CrowdStrike by 25.0% in the second quarter. First Community Trust NA now owns 1,135 shares of the company's stock valued at $578,000 after acquiring an additional 227 shares in the last quarter. Hedge funds and other 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.