MicroStrategy (NASDAQ:MSTR) Trading Up 2% – Here’s Why

MicroStrategy Incorporated (NASDAQ:MSTR) shot up 2% during mid-day trading on Wednesday . The stock traded as high as $383.40 and last traded at $363.74. 15,966,139 shares traded hands during trading, a decline of 6% from the average session volume of 16,950,887 shares. The stock had previously closed at $356.59.

Analysts Set New Price Targets

Several brokerages have weighed in on MSTR. BTIG Research boosted their price objective on MicroStrategy from $180.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Maxim Group boosted their price objective on shares of MicroStrategy from $193.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Barclays raised their target price on shares of MicroStrategy from $225.00 to $275.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Sanford C. Bernstein cut their price target on shares of MicroStrategy from $2,890.00 to $290.00 and set an “outperform” rating on the stock in a report on Wednesday, October 9th. Finally, TD Cowen boosted their target price on MicroStrategy from $200.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $271.13.

MicroStrategy Price Performance

The company’s 50 day simple moving average is $192.07 and its two-hundred day simple moving average is $161.52. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.12.

MicroStrategy (NASDAQ:MSTR) last posted its quarterly earnings data on Wednesday, October 30th. The software maker reported ($1.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($1.44). MicroStrategy had a negative return on equity of 17.31% and a negative net margin of 87.05%. The business had revenue of $116.07 million during the quarter, compared to analyst estimates of $121.45 million. During the same period in the previous year, the business earned ($8.98) EPS. The firm’s revenue for the quarter was down 10.3% compared to the same quarter last year.

Insider Transactions at MicroStrategy

In related news, CFO Andrew Kang sold 5,700 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $257.15, for a total value of $1,465,755.00. Following the completion of the transaction, the chief financial officer now directly owns 12,080 shares of the company’s stock, valued at $3,106,372. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other MicroStrategy news, CAO Jeanine Montgomery sold 56,250 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $257.41, for a total transaction of $14,479,312.50. Following the sale, the chief accounting officer now owns 5,670 shares in the company, valued at approximately $1,459,514.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Andrew Kang sold 5,700 shares of the firm’s 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 transaction, the chief financial officer now owns 12,080 shares of the company’s stock, valued at approximately $3,106,372. 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 have sold 163,788 shares of company stock worth $29,895,333. Insiders own 13.18% of the company’s stock.

Institutional Investors Weigh In On MicroStrategy

A number of large investors have recently bought and sold shares of MSTR. D.A. Davidson & CO. raised its position in MicroStrategy by 932.9% during the 3rd quarter. D.A. Davidson & CO. now owns 5,185 shares of the software maker’s stock worth $874,000 after buying an additional 4,683 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of MicroStrategy by 204.5% during the third quarter. The Manufacturers Life Insurance Company now owns 8,279 shares of the software maker’s stock worth $1,396,000 after purchasing an additional 5,560 shares during the last quarter. Dai ichi Life Insurance Company Ltd lifted its position in MicroStrategy by 900.0% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 6,000 shares of the software maker’s stock valued at $1,012,000 after purchasing an additional 5,400 shares during the period. Qsemble Capital Management LP acquired a new position in MicroStrategy during the third quarter valued at $326,000. Finally, Associated Banc Corp boosted its holdings in MicroStrategy by 900.0% in the third quarter. Associated Banc Corp now owns 2,350 shares of the software maker’s stock valued at $396,000 after purchasing an additional 2,115 shares during the last quarter. Hedge funds and other institutional investors own 72.03% 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.