MicroStrategy (NASDAQ:MSTR) Shares Up 2.9% – Here’s What Happened

MicroStrategy Incorporated (NASDAQ:MSTR)’s share price rose 2.9% during trading on Friday . The stock traded as high as $244.44 and last traded at $242.77. Approximately 7,703,108 shares were traded during trading, a decline of 53% from the average daily volume of 16,379,093 shares. The stock had previously closed at $235.89.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Cantor Fitzgerald started coverage on MicroStrategy in a report on Wednesday, August 21st. They set an “overweight” rating and a $194.00 price objective for the company. Benchmark lifted their price objective on shares of MicroStrategy from $215.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Barclays increased their target price on MicroStrategy from $173.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. BTIG Research lifted their price target on MicroStrategy from $180.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Maxim Group increased their price objective on MicroStrategy from $183.50 to $193.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $220.00.

MicroStrategy Stock Up 1.4 %

The stock has a market cap of $42.41 billion, a P/E ratio of -173.90 and a beta of 3.11. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.31. The company has a 50-day simple moving average of $159.07 and a two-hundred day simple moving average of $149.56.

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

Insider Activity at MicroStrategy

In other MicroStrategy news, CEO Phong Le sold 48,838 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $135.40, for a total value of $6,612,665.20. Following the completion of the sale, the chief executive officer now owns 12,670 shares in the company, valued at approximately $1,715,518. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Wei-Ming Shao sold 3,000 shares of the 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 transaction, the executive vice president now directly owns 6,460 shares of the company’s stock, valued at $912,152. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Phong Le sold 48,838 shares of MicroStrategy stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $135.40, for a total value of $6,612,665.20. Following the sale, the chief executive officer now directly owns 12,670 shares in the company, valued at approximately $1,715,518. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 101,838 shares of company stock worth $13,950,265 in the last 90 days. Company insiders own 13.18% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MSTR. Thurston Springer Miller Herd & Titak Inc. bought a new position in MicroStrategy in the second quarter worth $37,000. GAMMA Investing LLC boosted its stake in MicroStrategy by 36.4% during the second quarter. GAMMA Investing LLC now owns 30 shares of the software maker’s stock worth $41,000 after acquiring an additional 8 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in MicroStrategy in the first quarter worth about $58,000. Webster Bank N. A. bought a new position in shares of MicroStrategy during the first quarter valued at approximately $68,000. Finally, FinTrust Capital Advisors LLC bought a new stake in shares of MicroStrategy in the 1st quarter worth approximately $85,000. Hedge funds and other institutional investors own 72.03% of the company’s stock.

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.