Summit Securities Group LLC Sells 119 Shares of MicroStrategy Incorporated (NASDAQ:MSTR)

Summit Securities Group LLC reduced its stake in MicroStrategy Incorporated (NASDAQ:MSTR) by 40.2% during the 4th quarter, Holdings Channel reports. The fund owned 177 shares of the software maker’s stock after selling 119 shares during the period. Summit Securities Group LLC’s holdings in MicroStrategy were worth $51,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Riverview Trust Co bought a new position in shares of MicroStrategy during the fourth quarter worth approximately $25,000. IAG Wealth Partners LLC acquired a new position in MicroStrategy in the 4th quarter valued at $25,000. Sunbelt Securities Inc. increased its position in MicroStrategy by 900.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 160 shares of the software maker’s stock worth $27,000 after buying an additional 144 shares during the period. Parkside Financial Bank & Trust lifted its holdings in shares of MicroStrategy by 422.2% during the fourth quarter. Parkside Financial Bank & Trust now owns 94 shares of the software maker’s stock worth $27,000 after buying an additional 76 shares in the last quarter. Finally, Aspect Partners LLC bought a new stake in shares of MicroStrategy in the fourth quarter valued at about $28,000. 59.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MSTR has been the topic of a number of recent research reports. 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 on the stock. Monness Crespi & Hardt started coverage on shares of MicroStrategy in a report on Wednesday, March 19th. They set a “neutral” rating on the stock. Benchmark reiterated a “buy” rating and issued a $650.00 price target on shares of MicroStrategy in a research note on Tuesday, January 14th. Mizuho assumed coverage on MicroStrategy in a research note on Wednesday, January 29th. They set an “outperform” rating and a $515.00 price objective on the stock. Finally, Canaccord Genuity Group cut their target price on MicroStrategy from $510.00 to $409.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $536.90.

Insider Activity at MicroStrategy

In other MicroStrategy news, CAO Jeanine Montgomery sold 481 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $329.27, for a total value of $158,378.87. Following the completion of the transaction, the chief accounting officer now directly owns 7,805 shares in the company, valued at approximately $2,569,952.35. This trade represents a 5.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Wei-Ming Shao purchased 500 shares of the business’s stock in a transaction dated Thursday, March 20th. The shares were purchased at an average cost of $85.00 per share, for a total transaction of $42,500.00. Following the completion of the purchase, the executive vice president now directly owns 500 shares of the company’s stock, valued at approximately $42,500. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 8,000 shares of company stock valued at $680,000 and sold 22,998 shares valued at $7,671,926. 9.16% of the stock is owned by insiders.

MicroStrategy Price Performance

MicroStrategy stock opened at $289.41 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.65 and a current ratio of 0.71. MicroStrategy Incorporated has a 52 week low of $101.00 and a 52 week high of $543.00. The stock has a market capitalization of $74.48 billion, a P/E ratio of -51.38 and a beta of 3.36. The stock has a fifty day moving average of $313.64 and a 200-day moving average of $296.05.

MicroStrategy (NASDAQ:MSTR) last posted 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 return on equity of 19.01% and a negative net margin of 251.73%.

About MicroStrategy

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.