M&T Bank Corp Makes New Investment in MicroStrategy Incorporated (NASDAQ:MSTR)

M&T Bank Corp bought a new position in shares of MicroStrategy Incorporated (NASDAQ:MSTR) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 11,455 shares of the software maker’s stock, valued at approximately $1,932,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Signaturefd LLC lifted its stake in MicroStrategy by 13.6% in the second quarter. Signaturefd LLC now owns 50 shares of the software maker’s stock valued at $69,000 after buying an additional 6 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in MicroStrategy in the 2nd quarter valued at $106,000. Larson Financial Group LLC boosted its stake in MicroStrategy by 72.3% during the 2nd quarter. Larson Financial Group LLC now owns 81 shares of the software maker’s stock worth $112,000 after purchasing an additional 34 shares during the period. Ridgewood Investments LLC purchased a new position in MicroStrategy during the 2nd quarter worth $138,000. Finally, Semmax Financial Advisors Inc. increased its stake in MicroStrategy by 900.0% in the second quarter. Semmax Financial Advisors Inc. now owns 100 shares of the software maker’s stock valued at $138,000 after purchasing an additional 90 shares during the period. 59.84% of the stock is owned by hedge funds and other institutional investors.

MicroStrategy Trading Up 4.2 %

Shares of MSTR stock opened at $408.67 on Friday. The business’s fifty day moving average price is $303.61 and its 200 day moving average price is $201.30. The firm has a market capitalization of $82.81 billion, a PE ratio of -193.96 and a beta of 3.17. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.65 and a quick ratio of 0.65. MicroStrategy Incorporated has a 1-year low of $43.87 and a 1-year high of $543.00.

MicroStrategy (NASDAQ:MSTR) last announced its quarterly earnings data on Wednesday, October 30th. The software maker reported ($1.56) EPS 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 during the quarter, compared to analyst estimates of $121.45 million. During the same quarter last year, the business earned ($8.98) EPS. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MSTR shares. BTIG Research increased their target price on shares of MicroStrategy from $290.00 to $570.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Benchmark increased their price objective on MicroStrategy from $450.00 to $650.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $600.00 target price on shares of MicroStrategy in a research note on Thursday. 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. Finally, Barclays lifted their price objective on shares of MicroStrategy from $275.00 to $515.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, MicroStrategy currently has an average rating of “Moderate Buy” and a consensus price target of $479.25.

Insider Buying and Selling

In other news, CAO Jeanine Montgomery sold 56,250 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $257.41, for a total transaction of $14,479,312.50. Following the completion of the transaction, the chief accounting officer now directly owns 5,670 shares of the company’s stock, valued at $1,459,514.70. This trade represents a 90.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Wei-Ming Shao sold 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $368.01, for a total value of $6,624,180.00. Following the completion of the sale, the executive vice president now directly owns 6,460 shares in the company, valued at approximately $2,377,344.60. The trade was a 73.59 % 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 in the last quarter. Company insiders own 13.18% 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.