MicroStrategy (NASDAQ:MSTR) Stock Price Up 4.4% – Here’s Why

MicroStrategy Incorporated (NASDAQ:MSTR)’s share price rose 4.4% on Wednesday . The stock traded as high as $363.99 and last traded at $357.26. Approximately 6,868,133 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 18,815,090 shares. The stock had previously closed at $342.17.

Wall Street Analyst Weigh In

MSTR has been the subject of several recent analyst reports. Maxim Group upped their target price on shares of MicroStrategy from $193.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. BTIG Research upped their target price on shares of MicroStrategy from $290.00 to $570.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. TD Cowen upped their target price on shares of MicroStrategy from $392.00 to $525.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Benchmark reaffirmed a “buy” rating and issued a $650.00 target price on shares of MicroStrategy in a report on Tuesday. Finally, Canaccord Genuity Group raised their price objective on MicroStrategy from $300.00 to $510.00 and gave the company a “buy” rating in a research report on Monday, November 25th. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. Based on data from MarketBeat, MicroStrategy presently has a consensus rating of “Moderate Buy” and an average price target of $479.25.

MicroStrategy Price Performance

The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.12. The firm’s 50-day moving average price is $357.37 and its 200-day moving average price is $230.42. The stock has a market capitalization of $85.63 billion, a PE ratio of -169.59 and a beta of 3.25.

MicroStrategy (NASDAQ:MSTR) last announced 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). MicroStrategy had a negative net margin of 87.05% and a negative return on equity of 17.31%. The business had revenue of $116.07 million during the quarter, compared to the consensus estimate of $121.45 million. During the same period in the previous year, the business posted ($8.98) EPS. The firm’s revenue was down 10.3% on a year-over-year basis.

Insider Activity at MicroStrategy

In related news, CFO Andrew Kang sold 5,700 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $257.15, for a total value of $1,465,755.00. Following the sale, the chief financial officer now directly owns 12,080 shares of the company’s stock, valued at $3,106,372. This represents a 32.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stephen X. Graham sold 20,000 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $451.36, for a total transaction of $9,027,200.00. Following the completion of the sale, the director now directly owns 6,970 shares in the company, valued at $3,145,979.20. This trade represents a 74.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 102,000 shares of company stock valued at $32,259,177. Insiders own 13.18% of the company’s stock.

Hedge Funds Weigh In On MicroStrategy

A number of institutional investors have recently modified their holdings of MSTR. Geode Capital Management LLC increased its position in shares of MicroStrategy by 990.6% during the third quarter. Geode Capital Management LLC now owns 2,766,283 shares of the software maker’s stock worth $465,573,000 after acquiring an additional 2,512,645 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of MicroStrategy by 971.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 639,707 shares of the software maker’s stock worth $107,855,000 after acquiring an additional 579,994 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of MicroStrategy by 587.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 664,261 shares of the software maker’s stock worth $111,994,000 after acquiring an additional 567,628 shares during the period. Swiss National Bank increased its position in shares of MicroStrategy by 904.7% during the third quarter. Swiss National Bank now owns 468,200 shares of the software maker’s stock worth $78,939,000 after acquiring an additional 421,600 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of MicroStrategy by 1,077.0% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 343,164 shares of the software maker’s stock worth $57,857,000 after acquiring an additional 314,007 shares during the period. 59.84% of the stock is 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.