MicroStrategy (NASDAQ:MSTR) Shares Up 1.3% – Here’s What Happened

MicroStrategy Incorporated (NASDAQ:MSTR)’s share price shot up 1.3% during mid-day trading on Wednesday . The company traded as high as $385.61 and last traded at $378.20. 5,159,871 shares changed hands during trading, a decline of 72% from the average session volume of 18,450,334 shares. The stock had previously closed at $373.43.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MSTR. Canaccord Genuity Group boosted their price target on MicroStrategy from $300.00 to $510.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Cantor Fitzgerald assumed coverage on MicroStrategy in a research note on Wednesday, August 21st. They issued an “overweight” rating and a $194.00 price target for the company. 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. Sanford C. Bernstein upped their price target on MicroStrategy from $290.00 to $600.00 and gave the stock an “outperform” rating in a research note on Monday, November 25th. Finally, Barclays upped their price objective on MicroStrategy from $275.00 to $515.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. One 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $479.25.

MicroStrategy Stock Up 7.2 %

The company has a fifty day moving average of $267.36 and a two-hundred day moving average of $188.77. The company has a market cap of $81.15 billion, a PE ratio of -179.24 and a beta of 3.17. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.65 and a current ratio of 0.65.

MicroStrategy (NASDAQ:MSTR) last released its quarterly earnings results on Wednesday, October 30th. The software maker reported ($1.56) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $116.07 million for the quarter, compared to analysts’ expectations of $121.45 million. During the same quarter in the previous year, the company posted ($8.98) EPS. The business’s quarterly revenue was down 10.3% on a year-over-year basis.

Insiders Place Their Bets

In other news, EVP Wei-Ming Shao sold 18,000 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $368.01, for a total transaction of $6,624,180.00. Following the transaction, the executive vice president now owns 6,460 shares of the company’s stock, valued at approximately $2,377,344.60. This represents a 73.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen X. Graham sold 20,000 shares of the stock in a transaction on 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 transaction, the director now directly owns 6,970 shares in the company, valued at $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 a total of 102,000 shares of company stock worth $32,259,177 over the last quarter. Company insiders own 13.18% of the company’s stock.

Hedge Funds Weigh In On MicroStrategy

Hedge funds and other institutional investors have recently made changes to their positions in the company. US Bancorp DE grew its position in shares of MicroStrategy by 782.8% during the 3rd quarter. US Bancorp DE now owns 4,255 shares of the software maker’s stock worth $717,000 after buying an additional 3,773 shares in the last quarter. Freedom Investment Management Inc. bought a new stake in MicroStrategy during the third quarter valued at about $737,000. Vinva Investment Management Ltd bought a new stake in MicroStrategy during the third quarter valued at about $246,000. Hartline Investment Corp boosted its position in MicroStrategy by 1,064.6% during the third quarter. Hartline Investment Corp now owns 5,322 shares of the software maker’s stock valued at $897,000 after purchasing an additional 4,865 shares in the last quarter. Finally, National Pension Service boosted its position in MicroStrategy by 900.0% during the third quarter. National Pension Service now owns 245,000 shares of the software maker’s stock valued at $41,307,000 after purchasing an additional 220,500 shares in the last quarter. Institutional investors 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.