MicroStrategy (NASDAQ:MSTR) Trading 9.9% Higher – Here’s What Happened

MicroStrategy Incorporated (NASDAQ:MSTR)’s share price was up 9.9% during trading on Thursday . The stock traded as high as $397.66 and last traded at $388.84. Approximately 34,768,508 shares were traded during trading, an increase of 88% from the average daily volume of 18,456,727 shares. The stock had previously closed at $353.69.

Analyst Upgrades and Downgrades

MSTR has been the subject of several recent analyst reports. Maxim Group upped their price target on MicroStrategy from $193.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. TD Cowen boosted their price objective on shares of MicroStrategy from $392.00 to $525.00 and gave the stock a “buy” rating in a research note on Monday. BTIG Research raised their target price on shares of MicroStrategy from $290.00 to $570.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Cantor Fitzgerald initiated coverage on shares of MicroStrategy in a research report on Wednesday, August 21st. They set an “overweight” rating and a $194.00 target price for the company. Finally, Benchmark increased their price objective on MicroStrategy from $450.00 to $650.00 and gave the company a “buy” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $479.25.

MicroStrategy Price Performance

The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.12. The company’s 50-day moving average is $243.51 and its 200-day moving average is $180.24. The stock has a market cap of $78.79 billion, a price-to-earnings ratio of -184.55 and a beta of 3.05.

MicroStrategy (NASDAQ:MSTR) last announced 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 firm had revenue of $116.07 million for the quarter, compared to analyst estimates of $121.45 million. MicroStrategy had a negative return on equity of 17.31% and a negative net margin of 87.05%. The company’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter last year, the business earned ($8.98) EPS.

Insider Transactions at MicroStrategy

In related news, CFO Andrew Kang sold 5,700 shares of MicroStrategy stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $257.15, for a total value of $1,465,755.00. Following the completion of the sale, the chief financial officer now directly owns 12,080 shares in the company, valued at $3,106,372. This trade represents a 32.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jeanine Montgomery sold 56,250 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $257.41, for a total transaction of $14,479,312.50. Following the transaction, the chief accounting officer now owns 5,670 shares in the company, valued at approximately $1,459,514.70. The trade was a 90.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 102,000 shares of company stock worth $32,259,177. Insiders own 13.18% of the company’s stock.

Institutional Investors Weigh In On MicroStrategy

Several institutional investors have recently modified their holdings of MSTR. Thurston Springer Miller Herd & Titak Inc. bought a new position in MicroStrategy in the second quarter valued at approximately $37,000. GAMMA Investing LLC boosted its position in shares of MicroStrategy by 36.4% in the 2nd 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 last quarter. Signaturefd LLC grew its stake in shares of MicroStrategy by 13.6% during the second quarter. Signaturefd LLC now owns 50 shares of the software maker’s stock worth $69,000 after purchasing an additional 6 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in MicroStrategy in the second quarter valued at about $106,000. Finally, Larson Financial Group LLC lifted its stake in MicroStrategy by 72.3% in the second 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. 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.