Convergence Financial LLC Buys New Shares in MicroStrategy Incorporated (NASDAQ:MSTR)

Convergence Financial LLC purchased a new position in shares of MicroStrategy Incorporated (NASDAQ:MSTR) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 755 shares of the software maker’s stock, valued at approximately $219,000.

Other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its holdings in shares of MicroStrategy by 820.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 359 shares of the software maker’s stock worth $61,000 after purchasing an additional 320 shares during the period. Assenagon Asset Management S.A. raised its holdings in MicroStrategy by 793.7% in the third quarter. Assenagon Asset Management S.A. now owns 2,565 shares of the software maker’s stock valued at $432,000 after buying an additional 2,278 shares during the period. Allworth Financial LP raised its holdings in MicroStrategy by 2,832.0% in the third quarter. Allworth Financial LP now owns 733 shares of the software maker’s stock valued at $124,000 after buying an additional 708 shares during the period. Nisa Investment Advisors LLC lifted its position in MicroStrategy by 139.2% during the third quarter. Nisa Investment Advisors LLC now owns 3,970 shares of the software maker’s stock valued at $669,000 after buying an additional 2,310 shares in the last quarter. Finally, abrdn plc grew its stake in MicroStrategy by 11,184.0% during the third quarter. abrdn plc now owns 31,821 shares of the software maker’s stock worth $5,365,000 after buying an additional 31,539 shares during the period. Institutional investors and hedge funds own 59.84% of the company’s stock.

MicroStrategy Stock Down 8.8 %

MSTR stock opened at $240.05 on Friday. The company has a market capitalization of $57.53 billion, a P/E ratio of -42.61 and a beta of 3.25. The firm has a 50 day simple moving average of $333.62 and a 200-day simple moving average of $270.58. The company has a current ratio of 0.71, a quick ratio of 0.65 and a debt-to-equity ratio of 0.39. MicroStrategy Incorporated has a twelve month low of $91.55 and a twelve month high of $543.00.

MicroStrategy (NASDAQ:MSTR) last released its earnings results on Wednesday, February 5th. The software maker reported ($3.20) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($3.07). MicroStrategy had a negative return on equity of 19.01% and a negative net margin of 251.73%.

Wall Street Analyst Weigh In

MSTR has been the topic of several recent research reports. TD Cowen lifted their target price on shares of MicroStrategy from $392.00 to $525.00 and gave the company a “buy” rating in a report on Monday, November 25th. BTIG Research upped their target price on MicroStrategy from $290.00 to $570.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Compass Point upgraded MicroStrategy to a “strong-buy” rating in a report on Wednesday, January 29th. Benchmark restated a “buy” rating and issued a $650.00 price target on shares of MicroStrategy in a report on Tuesday, January 14th. Finally, Mizuho began coverage on shares of MicroStrategy in a research report on Wednesday, January 29th. They issued an “outperform” rating and a $515.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $536.90.

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.