CrowdStrike (NASDAQ:CRWD) Cut to Neutral at Piper Sandler

Piper Sandler cut shares of CrowdStrike (NASDAQ:CRWD) from an overweight rating to a neutral rating in a report issued on Tuesday, Marketbeat Ratings reports. They currently have $400.00 price target on the stock.

Several other brokerages also recently commented on CRWD. Canaccord Genuity Group boosted their price objective on shares of CrowdStrike from $400.00 to $405.00 and gave the company a buy rating in a research report on Wednesday, June 5th. Mizuho lowered their price target on shares of CrowdStrike from $390.00 to $370.00 and set a buy rating for the company in a report on Wednesday, June 5th. Needham & Company LLC reiterated a buy rating and set a $425.00 price target on shares of CrowdStrike in a report on Wednesday, June 5th. Rosenblatt Securities upped their price target on shares of CrowdStrike from $415.00 to $420.00 and gave the stock a buy rating in a report on Wednesday, June 5th. Finally, Cantor Fitzgerald reiterated an overweight rating and set a $400.00 price target on shares of CrowdStrike in a report on Friday, June 21st. Two analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $382.35.

CrowdStrike Stock Up 0.6 %

Shares of CRWD opened at $387.18 on Tuesday. CrowdStrike has a one year low of $139.37 and a one year high of $394.64. The company has a market cap of $94.22 billion, a P/E ratio of 730.54, a P/E/G ratio of 19.41 and a beta of 1.10. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.80 and a quick ratio of 1.80. The firm has a 50 day simple moving average of $347.10 and a two-hundred day simple moving average of $316.72.

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

Insider Activity at CrowdStrike

In related news, insider Shawn Henry sold 4,000 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $308.79, for a total value of $1,235,160.00. Following the transaction, the insider now owns 208,961 shares of the company’s stock, valued at approximately $64,525,067.19. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Shawn Henry sold 4,000 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $308.79, for a total value of $1,235,160.00. Following the transaction, the insider now owns 208,961 shares of the company’s stock, valued at approximately $64,525,067.19. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Anurag Saha sold 1,662 shares of the stock in a transaction dated 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 sale, 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. In the last quarter, insiders have sold 219,675 shares of company stock valued at $76,681,402. 4.34% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CrowdStrike

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRWD. AQR Capital Management LLC increased its stake in CrowdStrike by 46.0% in the 3rd quarter. AQR Capital Management LLC now owns 134,587 shares of the company’s stock valued at $22,527,000 after buying an additional 42,379 shares during the last quarter. Truist Financial Corp increased its stake in shares of CrowdStrike by 16.2% during the 3rd quarter. Truist Financial Corp now owns 109,252 shares of the company’s stock worth $18,287,000 after purchasing an additional 15,255 shares during the last quarter. Lido Advisors LLC increased its stake in shares of CrowdStrike by 5.7% during the 3rd quarter. Lido Advisors LLC now owns 4,533 shares of the company’s stock worth $759,000 after purchasing an additional 246 shares during the last quarter. Seven Eight Capital LP purchased a new stake in shares of CrowdStrike during the 3rd quarter worth approximately $1,765,000. Finally, Scotia Capital Inc. increased its stake in shares of CrowdStrike by 571.3% during the 3rd quarter. Scotia Capital Inc. now owns 16,427 shares of the company’s stock worth $2,750,000 after purchasing an additional 13,980 shares during 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.