CrowdStrike (NASDAQ:CRWD) Stock Price Down 8.6% on Analyst Downgrade

CrowdStrike Holdings, Inc. (NASDAQ:CRWD - Get Free Report)'s share price traded down 8.6% on Wednesday after UBS Group lowered their price target on the stock from $450.00 to $425.00. UBS Group currently has a buy rating on the stock. CrowdStrike traded as low as $343.00 and last traded at $356.50. 7,302,792 shares were traded during mid-day trading, an increase of 105% from the average session volume of 3,568,453 shares. The stock had previously closed at $390.16.

CRWD has been the topic of a number of other reports. Morgan Stanley boosted their target price on shares of CrowdStrike from $390.00 to $429.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th. Baird R W downgraded shares of CrowdStrike from a "strong-buy" rating to a "hold" rating in a report on Monday, February 3rd. BMO Capital Markets upped their price target on shares of CrowdStrike from $380.00 to $405.00 and gave the company an "outperform" rating in a report on Wednesday. Stifel Nicolaus cut their price target on shares of CrowdStrike from $475.00 to $435.00 and set a "buy" rating on the stock in a report on Wednesday. Finally, Barclays cut their price target on shares of CrowdStrike from $506.00 to $475.00 and set an "overweight" rating on the stock in a report on Wednesday. One analyst has rated the stock with a sell rating, eleven have given a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $400.10.

Insider Activity at CrowdStrike

In other news, Director Sameer K. Gandhi sold 17,120 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $428.13, for a total value of $7,329,585.60. Following the sale, the director now owns 780,592 shares in the company, valued at $334,194,852.96. This represents a 2.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shawn Henry sold 4,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was 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 owns 94,214 shares in the company, valued at $42,459,423.38. The trade was a 4.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 100,315 shares of company stock valued at $38,387,254 over the last 90 days. Insiders own 4.34% of the company's stock.

Institutional Trading of CrowdStrike

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in CrowdStrike during the fourth quarter valued at $1,111,542,000. Pathstone Holdings LLC grew its position in 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 buying an additional 1,017,678 shares during the period. Jennison Associates LLC grew its position in CrowdStrike by 25.0% during the third quarter. Jennison Associates LLC now owns 5,068,800 shares of the company's stock valued at $1,421,646,000 after buying an additional 1,013,161 shares during the period. Daiwa Securities Group Inc. grew its position in CrowdStrike by 1,655.9% during the third quarter. Daiwa Securities Group Inc. now owns 755,951 shares of the company's stock valued at $212,021,000 after buying an additional 712,900 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in CrowdStrike during the fourth quarter valued at $237,375,000. Institutional investors and hedge funds own 71.16% of the company's stock.

CrowdStrike Trading Down 6.3 %

The company has a market cap of $90.01 billion, a price-to-earnings ratio of 716.56, 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. The company's 50-day moving average is $387.84 and its 200 day moving average is $338.02.

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.