MicroStrategy (NASDAQ:MSTR) Reaches New 12-Month High on Analyst Upgrade

MicroStrategy Incorporated (NASDAQ:MSTR)’s stock price hit a new 52-week high during mid-day trading on Tuesday after Benchmark raised their price target on the stock from $300.00 to $450.00. Benchmark currently has a buy rating on the stock. MicroStrategy traded as high as $393.00 and last traded at $393.00, with a volume of 2594225 shares traded. The stock had previously closed at $384.79.

Several other research firms have also commented on MSTR. Canaccord Genuity Group lifted their price target on shares of MicroStrategy from $173.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Barclays increased their target price on MicroStrategy from $225.00 to $275.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Sanford C. Bernstein reduced their price target on shares of MicroStrategy from $2,890.00 to $290.00 and set an “outperform” rating for the company in a report on Wednesday, October 9th. TD Cowen raised 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. Finally, Cantor Fitzgerald initiated coverage on MicroStrategy in a report on Wednesday, August 21st. They set an “overweight” rating and a $194.00 price target on the stock. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, MicroStrategy has an average rating of “Moderate Buy” and a consensus price target of $289.88.

Insiders Place Their Bets

In related news, CAO Jeanine Montgomery sold 56,250 shares of MicroStrategy stock in a transaction on 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 completion of the sale, the chief accounting officer now owns 5,670 shares of the company’s stock, valued at approximately $1,459,514.70. This trade represents a 90.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Wei-Ming Shao sold 3,000 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $141.20, for a total value of $423,600.00. Following the completion of the transaction, the executive vice president now owns 6,460 shares in the company, valued at $912,152. This trade represents a 31.71 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 134,954 shares of company stock worth $30,553,037. Corporate 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. US Bancorp DE raised its position in MicroStrategy by 782.8% in the third quarter. US Bancorp DE now owns 4,255 shares of the software maker’s stock worth $717,000 after purchasing an additional 3,773 shares in the last quarter. Hartline Investment Corp increased its holdings in MicroStrategy by 1,064.6% in the third quarter. Hartline Investment Corp now owns 5,322 shares of the software maker’s stock valued at $897,000 after purchasing an additional 4,865 shares during the last quarter. National Pension Service raised its holdings in MicroStrategy by 900.0% in the third quarter. National Pension Service now owns 245,000 shares of the software maker’s stock worth $41,307,000 after purchasing an additional 220,500 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of MicroStrategy by 848.8% during the 3rd quarter. Janney Montgomery Scott LLC now owns 37,005 shares of the software maker’s stock valued at $6,239,000 after purchasing an additional 33,105 shares in the last quarter. Finally, Chesapeake Capital Corp IL raised its stake in shares of MicroStrategy by 1,211.1% in the 3rd quarter. Chesapeake Capital Corp IL now owns 4,733 shares of the software maker’s stock valued at $834,000 after purchasing an additional 4,372 shares during the period. 72.03% of the stock is currently owned by institutional investors.

MicroStrategy Stock Up 2.5 %

The company has a market capitalization of $79.91 billion, a P/E ratio of -182.62 and a beta of 3.05. 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’s 50 day moving average price is $210.03 and its two-hundred day moving average price is $168.07.

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

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.