MicroStrategy (NASDAQ:MSTR) Given New $300.00 Price Target at Canaccord Genuity Group

MicroStrategy (NASDAQ:MSTR) had its price objective upped by Canaccord Genuity Group from $173.00 to $300.00 in a report published on Thursday, Benzinga reports. The firm currently has a buy rating on the software maker’s stock.

A number of other brokerages also recently issued reports on MSTR. Cantor Fitzgerald initiated coverage on MicroStrategy in a research note on Wednesday, August 21st. They issued an “overweight” rating and a $194.00 price objective on the stock. BTIG Research upped their target price on MicroStrategy from $180.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Benchmark upped their target price on shares of MicroStrategy from $245.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday. Maxim Group raised their target price on MicroStrategy from $193.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Sanford C. Bernstein reduced their target price on shares of MicroStrategy from $2,890.00 to $290.00 and set an “outperform” rating for the company in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to MarketBeat.com, MicroStrategy presently has a consensus rating of “Moderate Buy” and a consensus target price of $264.88.

MicroStrategy Price Performance

Shares of MSTR traded up $4.91 during trading hours on Thursday, hitting $249.41. 5,348,384 shares of the company were exchanged, compared to its average volume of 16,526,123. The firm’s fifty day moving average is $168.11 and its 200 day moving average is $152.28. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.47 and a current ratio of 0.47. MicroStrategy has a fifty-two week low of $42.40 and a fifty-two week high of $267.89.

MicroStrategy (NASDAQ:MSTR) last posted its earnings results 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 19.60% and a negative net margin of 87.05%. The company had revenue of $116.07 million for the quarter, compared to the consensus estimate of $121.45 million. During the same period in the previous year, the firm posted ($8.98) EPS. The business’s quarterly revenue was down 10.3% compared to the same quarter last year.

Insider Buying and Selling at MicroStrategy

In other MicroStrategy news, CEO Phong Le sold 50,000 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $138.28, for a total value of $6,914,000.00. Following the completion of the transaction, the chief executive officer now owns 12,670 shares in the company, valued at approximately $1,752,007.60. This represents a 0.00 % 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. In related news, CEO Phong Le sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $138.28, for a total transaction of $6,914,000.00. Following the completion of the transaction, the chief executive officer now owns 12,670 shares of the company’s stock, valued at $1,752,007.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Wei-Ming Shao sold 3,000 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $141.20, for a total value of $423,600.00. Following the completion of the sale, the executive vice president now directly owns 6,460 shares in the company, valued at approximately $912,152. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,838 shares of company stock valued at $13,950,265. 13.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its holdings in MicroStrategy by 30.5% during the first quarter. BNP Paribas Financial Markets now owns 14,274 shares of the software maker’s stock valued at $24,331,000 after acquiring an additional 3,333 shares during the period. Sequoia Financial Advisors LLC bought a new position in MicroStrategy during the 1st quarter valued at about $377,000. Jennison Associates LLC purchased a new stake in MicroStrategy in the 1st quarter worth about $806,000. PNC Financial Services Group Inc. boosted its position in shares of MicroStrategy by 300.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 124 shares of the software maker’s stock valued at $78,000 after buying an additional 93 shares during the period. Finally, Janney Montgomery Scott LLC boosted its position in shares of MicroStrategy by 16.8% during the first quarter. Janney Montgomery Scott LLC now owns 3,219 shares of the software maker’s stock valued at $5,487,000 after buying an additional 464 shares during the period. Institutional investors own 72.03% of the company’s stock.

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.