Sanford C. Bernstein Trims MicroStrategy (NASDAQ:MSTR) Target Price to $290.00

MicroStrategy (NASDAQ:MSTR) had its price target lowered by Sanford C. Bernstein from $2,890.00 to $290.00 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the software maker’s stock.

MSTR has been the topic of a number of other reports. Benchmark upped their price target on MicroStrategy from $187.50 to $215.00 and gave the stock a buy rating in a research note on Friday, August 2nd. Maxim Group upped their target price on MicroStrategy from $183.50 to $193.00 and gave the stock a buy rating in a research report on Friday, August 2nd. TD Cowen lifted their price target on shares of MicroStrategy from $195.00 to $200.00 and gave the company a buy rating in a research report on Monday, September 23rd. Cantor Fitzgerald assumed coverage on shares of MicroStrategy in a report on Wednesday, August 21st. They set an overweight rating and a $194.00 price objective on the stock. Finally, Canaccord Genuity Group dropped their price objective on shares of MicroStrategy from $185.00 to $173.00 and set a buy rating on the stock in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $202.25.

MicroStrategy Stock Performance

NASDAQ:MSTR opened at $212.59 on Wednesday. The company has a market capitalization of $37.71 billion, a PE ratio of -31.73 and a beta of 3.11. The company has a 50 day simple moving average of $145.17 and a two-hundred day simple moving average of $146.63. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.47 and a current ratio of 0.47. MicroStrategy has a fifty-two week low of $31.43 and a fifty-two week high of $212.81.

MicroStrategy (NASDAQ:MSTR) last announced its earnings results on Thursday, August 1st. The software maker reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.48). The firm had revenue of $111.44 million for the quarter, compared to the consensus estimate of $121.99 million. MicroStrategy had a negative return on equity of 14.72% and a negative net margin of 43.69%. MicroStrategy’s quarterly revenue was down 7.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.15 EPS.

Insider Activity at MicroStrategy

In other MicroStrategy news, EVP Wei-Ming Shao sold 3,000 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $141.20, for a total value of $423,600.00. Following the completion of the sale, the executive vice president now directly owns 6,460 shares of the company’s stock, valued at approximately $912,152. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Phong Le sold 50,000 shares of MicroStrategy stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $138.28, for a total transaction of $6,914,000.00. Following the sale, the chief executive officer now directly owns 12,670 shares in the company, valued at approximately $1,752,007.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Wei-Ming Shao sold 3,000 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $141.20, for a total value of $423,600.00. Following the completion of the transaction, the executive vice president now directly owns 6,460 shares in the company, valued at approximately $912,152. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,838 shares of company stock valued at $13,950,265 over the last ninety days. Corporate insiders own 13.18% of the company’s stock.

Institutional Investors Weigh In On MicroStrategy

Several large investors have recently made changes to their positions in MSTR. Vanguard Group Inc. increased its holdings in MicroStrategy by 34.8% during the first quarter. Vanguard Group Inc. now owns 1,553,048 shares of the software maker’s stock worth $2,647,263,000 after buying an additional 401,071 shares during the last quarter. Capital International Investors boosted its stake in MicroStrategy by 14.9% in the first quarter. Capital International Investors now owns 1,791,564 shares of the software maker’s stock valued at $3,053,828,000 after acquiring an additional 232,667 shares during the last quarter. Strong Tower Advisory Services grew its position in shares of MicroStrategy by 990.0% during the 3rd quarter. Strong Tower Advisory Services now owns 160,668 shares of the software maker’s stock valued at $27,089,000 after acquiring an additional 145,928 shares during the period. Exchange Traded Concepts LLC increased its stake in shares of MicroStrategy by 1,019.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 113,601 shares of the software maker’s stock worth $19,153,000 after purchasing an additional 103,454 shares during the last quarter. Finally, Creative Planning raised its holdings in shares of MicroStrategy by 1,294.2% in the 3rd quarter. Creative Planning now owns 89,784 shares of the software maker’s stock worth $15,138,000 after purchasing an additional 83,344 shares during the period. 72.03% of the stock is owned by hedge funds and other institutional investors.

MicroStrategy Company Profile

MicroStrategy Incorporated provides artificial intelligence-powered enterprise analytics software and services in the United States, Europe, the Middle East, Africa, and internationally. It offers MicroStrategy ONE, which provides non-technical users with the ability to directly access novel and actionable insights for decision-making; and MicroStrategy Cloud for Government service, which offers always-on threat monitoring that meets the rigorous technical and regulatory needs of governments and financial institutions.