MicroStrategy (NASDAQ:MSTR) Shares Gap Down to $129.64

MicroStrategy Incorporated (NASDAQ:MSTR) shares gapped down before the market opened on Wednesday . The stock had previously closed at $129.64, but opened at $125.21. MicroStrategy shares last traded at $123.75, with a volume of 2,017,301 shares changing hands.

Wall Street Analysts Forecast Growth

MSTR has been the subject of several research reports. Maxim Group increased their price objective on shares of MicroStrategy from $183.50 to $193.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Sanford C. Bernstein raised shares of MicroStrategy to a “strong-buy” rating in a report on Friday, June 14th. Cantor Fitzgerald initiated coverage on shares of MicroStrategy in a report on Wednesday, August 21st. They set an “overweight” rating and a $194.00 price objective for the company. Barclays initiated coverage on shares of MicroStrategy in a report on Friday, September 6th. They set an “overweight” rating and a $146.00 price objective for the company. Finally, TD Cowen increased their price objective on shares of MicroStrategy from $145.00 to $188.00 and gave the company a “buy” rating in a report on Friday, June 21st. One investment analyst has rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, MicroStrategy presently has a consensus rating of “Moderate Buy” and a consensus price target of $198.45.

MicroStrategy Stock Up 1.2 %

The company has a 50-day moving average of $141.75 and a 200 day moving average of $143.15. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.47 and a quick ratio of 0.47.

MicroStrategy (NASDAQ:MSTR) last announced its earnings results on Thursday, August 1st. The software maker reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.48). MicroStrategy had a negative net margin of 43.69% and a negative return on equity of 14.72%. The business had revenue of $111.44 million for the quarter, compared to analysts’ expectations of $121.99 million. During the same quarter last year, the firm earned $0.15 EPS. The firm’s quarterly revenue was down 7.4% on a year-over-year basis.

Insider Buying and Selling at MicroStrategy

In other MicroStrategy news, CEO Phong Le sold 48,838 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $135.40, for a total transaction of $6,612,665.20. Following the completion of the transaction, the chief executive officer now owns 12,670 shares in the company, valued at $1,715,518. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Phong Le sold 48,838 shares of MicroStrategy stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $135.40, for a total transaction of $6,612,665.20. Following the completion of the sale, the chief executive officer now owns 12,670 shares of the company’s stock, valued at $1,715,518. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Wei-Ming Shao sold 3,000 shares of MicroStrategy stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $141.20, for a total transaction of $423,600.00. Following the sale, the executive vice president now directly owns 6,460 shares of the company’s stock, valued at approximately $912,152. The disclosure for this sale can be found here. Insiders sold 101,838 shares of company stock worth $13,950,265 over the last 90 days. Company insiders own 13.18% of the company’s stock.

Hedge Funds Weigh In On MicroStrategy

Large investors have recently bought and sold shares of the business. Norges Bank bought a new position in MicroStrategy in the fourth quarter worth approximately $70,990,000. Beacon Pointe Advisors LLC bought a new position in MicroStrategy in the fourth quarter worth approximately $379,000. CIBC Private Wealth Group LLC raised its stake in MicroStrategy by 23.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,636 shares of the software maker’s stock worth $1,665,000 after buying an additional 500 shares in the last quarter. Chesapeake Capital Corp IL acquired a new position in shares of MicroStrategy during the fourth quarter worth $651,000. Finally, Victory Capital Management Inc. increased its position in shares of MicroStrategy by 39.8% during the fourth quarter. Victory Capital Management Inc. now owns 2,180 shares of the software maker’s stock worth $1,377,000 after purchasing an additional 621 shares in the last quarter. Institutional investors own 72.03% 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.