MicroStrategy (NASDAQ:MSTR) Stock Price Up 4.6% – Here’s Why

MicroStrategy Incorporated (NASDAQ:MSTR)’s stock price traded up 4.6% on Wednesday . The company traded as high as $298.65 and last traded at $296.25. 4,460,861 shares changed hands during trading, a decline of 75% from the average session volume of 18,203,990 shares. The stock had previously closed at $283.19.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods initiated coverage on shares of MicroStrategy in a research report on Friday, February 7th. They set an “outperform” rating and a $560.00 price target for the company. TD Cowen lifted their target price on MicroStrategy from $392.00 to $525.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Maxim Group upped their price target on MicroStrategy from $480.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $600.00 price objective on shares of MicroStrategy in a report on Thursday, December 12th. Finally, Canaccord Genuity Group lowered their target price on shares of MicroStrategy from $510.00 to $409.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $536.90.

MicroStrategy Stock Down 2.8 %

The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.65 and a current ratio of 0.71. The stock has a market cap of $75.53 billion, a PE ratio of -52.46 and a beta of 3.36. The company’s 50-day moving average price is $317.59 and its 200 day moving average price is $285.50.

MicroStrategy (NASDAQ:MSTR) last announced its earnings results 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%.

Hedge Funds Weigh In On MicroStrategy

Several institutional investors and hedge funds have recently bought and sold shares of the stock. National Bank of Canada FI raised its stake in shares of MicroStrategy by 746.2% in the third quarter. National Bank of Canada FI now owns 20,647 shares of the software maker’s stock worth $3,481,000 after buying an additional 18,207 shares during the period. Proficio Capital Partners LLC bought a new stake in MicroStrategy during the 4th quarter worth approximately $81,783,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of MicroStrategy during the 3rd quarter valued at $254,000. Clarity Capital Partners LLC increased its stake in MicroStrategy by 122.3% in the 4th quarter. Clarity Capital Partners LLC now owns 25,115 shares of the software maker’s stock worth $7,274,000 after buying an additional 13,817 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in MicroStrategy by 979.8% during the third quarter. Wellington Management Group LLP now owns 6,727 shares of the software maker’s stock valued at $1,134,000 after acquiring an additional 6,104 shares during the period. 59.84% of the stock is currently owned by hedge funds and other institutional investors.

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.