MicroStrategy (NASDAQ:MSTR) Trading Up 4.6% – Here’s What Happened

MicroStrategy Incorporated (NASDAQ:MSTR)’s share price was up 4.6% during mid-day trading on Friday . The company traded as high as $417.62 and last traded at $406.80. Approximately 9,316,659 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 18,405,018 shares. The stock had previously closed at $388.84.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. BTIG Research boosted their price objective on shares of MicroStrategy from $290.00 to $570.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Benchmark upped their target price on MicroStrategy from $450.00 to $650.00 and gave the company a “buy” rating in a report on Monday. Cantor Fitzgerald initiated coverage on MicroStrategy in a report on Wednesday, August 21st. They issued an “overweight” rating and a $194.00 price target on the stock. Maxim Group upped their price objective on MicroStrategy from $193.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Sanford C. Bernstein increased their target price on MicroStrategy from $290.00 to $600.00 and gave the stock an “outperform” rating in a research report on Monday. One analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $479.25.

MicroStrategy Trading Up 0.9 %

The firm has a market capitalization of $79.48 billion, a P/E ratio of -193.07 and a beta of 3.05. The business’s 50 day moving average is $253.51 and its two-hundred day moving average is $183.14. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.12.

MicroStrategy (NASDAQ:MSTR) last released its quarterly earnings results on Wednesday, October 30th. The software maker reported ($1.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($1.44). The company had revenue of $116.07 million for the quarter, compared to the consensus estimate of $121.45 million. MicroStrategy had a negative return on equity of 17.31% and a negative net margin of 87.05%. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($8.98) earnings per share.

Insider Buying and Selling

In related news, CAO Jeanine Montgomery sold 752 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $322.45, for a total value of $242,482.40. Following the completion of the transaction, the chief accounting officer now owns 6,418 shares in the company, valued at $2,069,484.10. This trade represents a 10.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Stephen X. Graham sold 20,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $451.36, for a total value of $9,027,200.00. Following the sale, the director now owns 6,970 shares in the company, valued at approximately $3,145,979.20. The trade was a 74.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 102,000 shares of company stock worth $32,259,177 in the last ninety days. 13.18% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MicroStrategy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in MicroStrategy during the 2nd quarter worth about $37,000. GAMMA Investing LLC boosted its holdings in shares of 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 purchasing an additional 8 shares during the period. Signaturefd LLC grew its position in MicroStrategy by 13.6% during the second quarter. Signaturefd LLC now owns 50 shares of the software maker’s stock valued at $69,000 after purchasing an additional 6 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in MicroStrategy in the 2nd quarter valued at approximately $106,000. Finally, Larson Financial Group LLC increased its stake in MicroStrategy by 72.3% in the 2nd quarter. Larson Financial Group LLC now owns 81 shares of the software maker’s stock valued at $112,000 after buying an additional 34 shares during the period. 72.03% of the stock is currently owned by hedge funds and other institutional investors.

About MicroStrategy

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.