CrowdStrike (NASDAQ:CRWD) Price Target Cut to $415.00 by Analysts at Morgan Stanley

CrowdStrike (NASDAQ:CRWD) had its target price reduced by equities researchers at Morgan Stanley from $429.00 to $415.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 10.48% from the company’s current price.

Several other research firms have also recently weighed in on CRWD. KeyCorp reduced their price objective on CrowdStrike from $480.00 to $450.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. Scotiabank reissued a “sector perform” rating on shares of CrowdStrike in a report on Wednesday, February 5th. Jefferies Financial Group decreased their price objective on shares of CrowdStrike from $425.00 to $410.00 and set a “buy” rating for the company in a report on Monday, March 31st. Truist Financial dropped their target price on shares of CrowdStrike from $460.00 to $450.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Finally, UBS Group decreased their price target on shares of CrowdStrike from $450.00 to $425.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $400.53.

CrowdStrike Price Performance

CrowdStrike stock opened at $375.62 on Wednesday. The stock has a market cap of $93.11 billion, a P/E ratio of 736.52, a P/E/G ratio of 17.86 and a beta of 1.28. 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 price is $376.90 and its two-hundred day moving average price is $357.06. CrowdStrike has a 52 week low of $200.81 and a 52 week high of $455.59.

Insiders Place Their Bets

In related news, insider Shawn Henry sold 4,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 94,214 shares of the company’s stock, valued at approximately $42,459,423.38. This trade represents a 4.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gerhard Watzinger sold 2,600 shares of the company’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $378.93, for a total value of $985,218.00. Following the completion of the sale, the director now directly owns 60,291 shares of the company’s stock, valued at approximately $22,846,068.63. This represents a 4.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 119,401 shares of company stock valued at $45,119,220 in the last quarter. Corporate insiders own 4.34% of the company’s stock.

Institutional Investors Weigh In On CrowdStrike

A number of hedge funds have recently made changes to their positions in CRWD. FSA Wealth Management LLC raised its position in CrowdStrike by 11.2% in the 4th quarter. FSA Wealth Management LLC now owns 228 shares of the company’s stock worth $78,000 after purchasing an additional 23 shares during the period. Jacobi Capital Management LLC increased its holdings in shares of CrowdStrike by 1.9% in the fourth quarter. Jacobi Capital Management LLC now owns 1,309 shares of the company’s stock worth $448,000 after buying an additional 25 shares during the period. Dorsey & Whitney Trust CO LLC lifted its stake in shares of CrowdStrike by 1.4% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 1,974 shares of the company’s stock valued at $675,000 after acquiring an additional 27 shares during the last quarter. Wintrust Investments LLC boosted its holdings in CrowdStrike by 4.2% during the 4th quarter. Wintrust Investments LLC now owns 719 shares of the company’s stock valued at $246,000 after acquiring an additional 29 shares during the period. Finally, Greenwich Wealth Management LLC grew its position in CrowdStrike by 4.0% during the 4th quarter. Greenwich Wealth Management LLC now owns 776 shares of the company’s stock worth $265,000 after acquiring an additional 30 shares during the last quarter. 71.16% of the stock is currently owned by institutional investors.

CrowdStrike Company Profile

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.