MicroStrategy (NASDAQ:MSTR) Stock Price Up 2.2% – Here’s Why

MicroStrategy Incorporated (NASDAQ:MSTR)’s stock price rose 2.2% during mid-day trading on Monday . The stock traded as high as $405.00 and last traded at $395.01. Approximately 26,206,157 shares changed hands during mid-day trading, a decline of 34% from the average daily volume of 39,472,996 shares. The stock had previously closed at $386.40.

Analysts Set New Price Targets

MSTR has been the subject of several research analyst reports. BTIG Research lifted their price target on MicroStrategy from $290.00 to $570.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Cantor Fitzgerald initiated coverage on MicroStrategy in a research note on Wednesday, August 21st. They issued an “overweight” rating and a $194.00 target price for the company. Canaccord Genuity Group increased their price target on shares of MicroStrategy from $300.00 to $510.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Maxim Group boosted their price objective on shares of MicroStrategy from $193.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Benchmark increased their target price on shares of MicroStrategy from $450.00 to $650.00 and gave the company a “buy” rating in a report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $479.25.

MicroStrategy Stock Up 2.2 %

The company’s 50 day moving average price is $281.23 and its two-hundred day moving average price is $193.59. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.12. The firm has a market cap of $80.04 billion, a PE ratio of -187.47 and a beta of 3.17.

MicroStrategy (NASDAQ:MSTR) last issued 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 firm had revenue of $116.07 million for the quarter, compared to analysts’ expectations of $121.45 million. During the same period in the prior year, the firm earned ($8.98) EPS. MicroStrategy’s revenue for the quarter was down 10.3% compared to the same quarter last year.

Insider Activity

In other news, Director Stephen X. Graham sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $451.36, for a total transaction of $9,027,200.00. Following the transaction, the director now owns 6,970 shares of the company’s stock, valued at approximately $3,145,979.20. This represents a 74.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Jeanine Montgomery sold 56,250 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $257.41, for a total value of $14,479,312.50. Following the completion of 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 90.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 102,000 shares of company stock worth $32,259,177 over the last 90 days. Corporate insiders own 13.18% of the company’s stock.

Hedge Funds Weigh In On MicroStrategy

Institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in MicroStrategy by 990.6% during the third quarter. Geode Capital Management LLC now owns 2,766,283 shares of the software maker’s stock valued at $465,573,000 after purchasing an additional 2,512,645 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of MicroStrategy by 971.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 639,707 shares of the software maker’s stock worth $107,855,000 after buying an additional 579,994 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of MicroStrategy by 587.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 664,261 shares of the software maker’s stock worth $111,994,000 after acquiring an additional 567,628 shares in the last quarter. Swiss National Bank lifted its position in MicroStrategy by 904.7% during the third quarter. Swiss National Bank now owns 468,200 shares of the software maker’s stock valued at $78,939,000 after acquiring an additional 421,600 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in MicroStrategy by 1,077.0% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 343,164 shares of the software maker’s stock valued at $57,857,000 after acquiring an additional 314,007 shares in the last quarter. Hedge funds and other institutional investors own 59.84% 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.