MicroStrategy (NASDAQ:MSTR) Trading Up 2.1% – Here’s What Happened

MicroStrategy Incorporated (NASDAQ:MSTR)’s stock price was up 2.1% during trading on Thursday . The stock traded as high as $264.35 and last traded at $263.21. Approximately 5,270,919 shares changed hands during trading, a decline of 68% from the average daily volume of 16,614,734 shares. The stock had previously closed at $257.81.

Analysts Set New Price Targets

Several analysts have issued reports on MSTR shares. TD Cowen raised their price target on shares of MicroStrategy from $200.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Benchmark boosted their price target on MicroStrategy from $245.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Maxim Group upped their target price on MicroStrategy from $193.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Cantor Fitzgerald started coverage on shares of MicroStrategy in a research note on Wednesday, August 21st. They issued an “overweight” rating and a $194.00 target price on the stock. Finally, Canaccord Genuity Group upped their price objective on MicroStrategy from $173.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, MicroStrategy presently has a consensus rating of “Moderate Buy” and an average target price of $271.13.

MicroStrategy Stock Up 8.6 %

The firm’s 50-day simple moving average is $177.71 and its 200 day simple moving average is $156.25. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.47 and a current ratio of 0.65. The company has a market cap of $49.66 billion, a P/E ratio of -124.92 and a beta of 3.05.

MicroStrategy (NASDAQ:MSTR) last issued its earnings results on Wednesday, October 30th. The software maker reported ($1.56) earnings per share (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%. MicroStrategy’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter last year, the business posted ($8.98) EPS.

Insider Activity at MicroStrategy

In other MicroStrategy news, CEO Phong Le sold 48,838 shares of the stock in a transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Wei-Ming Shao sold 3,000 shares of MicroStrategy 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 owns 6,460 shares of the company’s stock, valued at $912,152. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Phong Le sold 48,838 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $135.40, for a total transaction of $6,612,665.20. Following the completion of 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. Over the last 90 days, insiders sold 101,838 shares of company stock worth $13,950,265. 13.18% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MicroStrategy

A number of institutional investors have recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of MicroStrategy during the 2nd quarter worth approximately $37,000. GAMMA Investing LLC increased its holdings in shares of MicroStrategy by 36.4% in the second quarter. GAMMA Investing LLC now owns 30 shares of the software maker’s stock valued at $41,000 after purchasing an additional 8 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of MicroStrategy in the first quarter valued at about $58,000. Signaturefd LLC lifted its stake in shares of MicroStrategy by 13.6% during the 2nd quarter. Signaturefd LLC now owns 50 shares of the software maker’s stock worth $69,000 after buying an additional 6 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of MicroStrategy during the 2nd quarter worth about $106,000. Institutional investors and hedge funds own 72.03% of the company’s stock.

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.