MicroStrategy (NASDAQ:MSTR) Price Target Lowered to $1,590.00 at Canaccord Genuity Group

MicroStrategy (NASDAQ:MSTR) had its price target cut by investment analysts at Canaccord Genuity Group from $1,810.00 to $1,590.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the software maker’s stock. Canaccord Genuity Group’s target price points to a potential upside of 22.97% from the stock’s current price.

A number of other research analysts have also weighed in on the company. Benchmark reaffirmed a “buy” rating and set a $1,875.00 price objective on shares of MicroStrategy in a research report on Thursday, April 25th. BTIG Research raised their price objective on MicroStrategy from $780.00 to $1,800.00 and gave the company a “buy” rating in a research report on Friday, April 5th. StockNews.com raised MicroStrategy to a “sell” rating in a research report on Monday, March 18th. Finally, TD Cowen reduced their price objective on MicroStrategy from $1,560.00 to $1,450.00 and set an “outperform” rating for the company in a research report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,678.75.

MicroStrategy Trading Up 0.8 %

MSTR opened at $1,292.97 on Tuesday. The stock has a market cap of $21.94 billion, a PE ratio of 45.88 and a beta of 2.89. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.01. The business has a 50 day moving average of $1,363.08 and a 200-day moving average of $820.38. MicroStrategy has a 52 week low of $266.00 and a 52 week high of $1,999.99.

MicroStrategy (NASDAQ:MSTR) last released its earnings results on Tuesday, February 6th. The software maker reported $5.62 EPS for the quarter. The company had revenue of $124.48 million during the quarter, compared to analysts’ expectations of $134.90 million. MicroStrategy had a return on equity of 42.81% and a net margin of 86.47%.

Insiders Place Their Bets

In other MicroStrategy news, Chairman Michael J. Saylor sold 5,000 shares of MicroStrategy stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $1,295.80, for a total value of $6,479,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other MicroStrategy news, Chairman Michael J. Saylor sold 5,000 shares of MicroStrategy stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $1,295.80, for a total value of $6,479,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jarrod M. Patten sold 3,675 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1,632.55, for a total value of $5,999,621.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 112,452 shares of company stock valued at $120,206,247. Corporate insiders own 13.18% of the company’s stock.

Hedge Funds Weigh In On MicroStrategy

A number of institutional investors and hedge funds have recently modified their holdings of the company. Perigon Wealth Management LLC boosted its stake in shares of MicroStrategy by 6.6% in the 1st quarter. Perigon Wealth Management LLC now owns 1,053 shares of the software maker’s stock worth $1,795,000 after buying an additional 65 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in MicroStrategy during the first quarter valued at $58,000. Commonwealth Equity Services LLC lifted its position in MicroStrategy by 54.0% during the first quarter. Commonwealth Equity Services LLC now owns 23,638 shares of the software maker’s stock valued at $40,292,000 after purchasing an additional 8,287 shares in the last quarter. Greenleaf Trust purchased a new position in MicroStrategy during the first quarter valued at $215,000. Finally, Principal Financial Group Inc. lifted its position in MicroStrategy by 310.0% during the first quarter. Principal Financial Group Inc. now owns 5,794 shares of the software maker’s stock valued at $9,876,000 after purchasing an additional 4,381 shares in the last quarter. 72.03% of the stock is currently owned by hedge funds and other institutional investors.

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.