Scotiabank Downgrades CrowdStrike (NASDAQ:CRWD) to Sector Perform

CrowdStrike (NASDAQ:CRWD) was downgraded by stock analysts at Scotiabank from a “sector outperform” rating to a “sector perform” rating in a report issued on Monday, Marketbeat.com reports. They presently have a $300.00 target price on the stock, down from their prior target price of $393.00. Scotiabank’s price objective would indicate a potential upside of 11.57% from the stock’s current price.

Other analysts also recently issued reports about the stock. DA Davidson lowered their price objective on shares of CrowdStrike from $425.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. BMO Capital Markets lowered their price target on shares of CrowdStrike from $425.00 to $410.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 5th. Morgan Stanley increased their price objective on shares of CrowdStrike from $372.00 to $422.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 28th. KeyCorp lowered their target price on CrowdStrike from $440.00 to $420.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 17th. Finally, Mizuho reduced their price target on CrowdStrike from $390.00 to $370.00 and set a “buy” rating for the company in a research report on Wednesday, June 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $364.95.

CrowdStrike Trading Up 1.9 %

Shares of NASDAQ:CRWD opened at $268.88 on Monday. The firm has a market cap of $65.43 billion, a price-to-earnings ratio of 507.33, a PEG ratio of 15.37 and a beta of 1.10. CrowdStrike has a 12 month low of $140.52 and a 12 month high of $398.33. The company’s fifty day simple moving average is $359.35 and its 200 day simple moving average is $327.01. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.29.

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 during the quarter, compared to analyst estimates of $904.82 million. CrowdStrike had a net margin of 4.01% and a return on equity of 7.39%. As a group, research analysts forecast that CrowdStrike will post 0.9 EPS for the current fiscal year.

Insider Buying and Selling at CrowdStrike

In other news, CEO George Kurtz sold 56,279 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $304.41, for a total transaction of $17,131,890.39. Following the transaction, the chief executive officer now directly owns 1,146,048 shares of the company’s stock, valued at $348,868,471.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO George Kurtz sold 56,279 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $304.41, for a total transaction of $17,131,890.39. Following the sale, the chief executive officer now directly owns 1,146,048 shares of the company’s stock, valued at approximately $348,868,471.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Shawn Henry sold 4,000 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $371.32, for a total value of $1,485,280.00. Following the completion of the transaction, the insider now owns 183,091 shares in the company, valued at approximately $67,985,350.12. The disclosure for this sale can be found here. Insiders sold 219,675 shares of company stock valued at $76,931,522 in the last quarter. Company insiders own 4.34% of the company’s stock.

Institutional Trading of CrowdStrike

A number of institutional investors and hedge funds have recently made changes to their positions in CRWD. Whittier Trust Co. boosted its holdings in shares of CrowdStrike by 161.1% in the 4th quarter. Whittier Trust Co. now owns 543 shares of the company’s stock valued at $139,000 after purchasing an additional 335 shares in the last quarter. Premier Path Wealth Partners LLC bought a new position in CrowdStrike in the fourth quarter valued at about $218,000. Mutual Advisors LLC raised its stake in CrowdStrike by 20.4% during the fourth quarter. Mutual Advisors LLC now owns 3,893 shares of the company’s stock worth $994,000 after acquiring an additional 660 shares in the last quarter. HB Wealth Management LLC lifted its holdings in shares of CrowdStrike by 40.9% in the fourth quarter. HB Wealth Management LLC now owns 2,432 shares of the company’s stock worth $621,000 after acquiring an additional 706 shares during the last quarter. Finally, Compagnie Lombard Odier SCmA boosted its stake in shares of CrowdStrike by 3.1% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 1,645 shares of the company’s stock valued at $420,000 after purchasing an additional 50 shares in 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.