Covenant Asset Management LLC Takes Position in MicroStrategy Incorporated (NASDAQ:MSTR)

Covenant Asset Management LLC acquired a new stake in shares of MicroStrategy Incorporated (NASDAQ:MSTR) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,550 shares of the software maker’s stock, valued at approximately $1,607,000.

Other large investors have also recently made changes to their positions in the company. Private Wealth Management Group LLC boosted its holdings in MicroStrategy by 208.8% in the fourth quarter. Private Wealth Management Group LLC now owns 105 shares of the software maker’s stock valued at $30,000 after purchasing an additional 71 shares during the last quarter. Compagnie Lombard Odier SCmA acquired a new position in shares of MicroStrategy in the fourth quarter worth about $32,000. Activest Wealth Management acquired a new position in shares of MicroStrategy in the fourth quarter worth about $33,000. SOA Wealth Advisors LLC. acquired a new position in shares of MicroStrategy in the fourth quarter worth about $37,000. Finally, Versant Capital Management Inc raised its position in shares of MicroStrategy by 38.2% in the fourth quarter. Versant Capital Management Inc now owns 141 shares of the software maker’s stock worth $41,000 after acquiring an additional 39 shares during the period. 59.84% of the stock is owned by hedge funds and other institutional investors.

MicroStrategy Trading Up 3.9 %

MSTR stock opened at $337.73 on Friday. 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 12 month low of $66.43 and a 12 month high of $543.00. The firm has a 50-day moving average of $349.12 and a two-hundred day moving average of $261.08.

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

Wall Street Analysts Forecast Growth

MSTR has been the subject of a number of analyst reports. BTIG Research upped their price objective on shares of MicroStrategy from $290.00 to $570.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Keefe, Bruyette & Woods initiated coverage on shares of MicroStrategy in a research report on Friday, February 7th. They issued an “outperform” rating and a $560.00 price objective for the company. Cantor Fitzgerald upped their price objective on shares of MicroStrategy from $613.00 to $619.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Maxim Group upped their price objective on shares of MicroStrategy from $480.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Finally, Benchmark restated a “buy” rating and set a $650.00 price target on shares of MicroStrategy in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $536.90.

Insider Activity

In related news, Director Stephen X. Graham sold 20,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $451.36, for a total transaction of $9,027,200.00. Following the completion of the transaction, the director now owns 6,970 shares of the company’s stock, valued at approximately $3,145,979.20. This trade represents a 74.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 9.16% of the company’s stock.

MicroStrategy Company Profile

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.