MicroStrategy (NASDAQ:MSTR) Shares Down 2.3% on Analyst Downgrade

Shares of MicroStrategy Incorporated (NASDAQ:MSTR) were down 2.3% on Thursday after Sanford C. Bernstein lowered their price target on the stock from $2,890.00 to $290.00. Sanford C. Bernstein currently has an outperform rating on the stock. MicroStrategy traded as low as $181.25 and last traded at $184.62. Approximately 5,835,656 shares changed hands during trading, a decline of 64% from the average daily volume of 16,169,461 shares. The stock had previously closed at $188.91.

MSTR has been the topic of a number of other research reports. Barclays increased their price objective on MicroStrategy from $146.00 to $173.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Cantor Fitzgerald assumed coverage on MicroStrategy in a report on Wednesday, August 21st. They issued an “overweight” rating and a $194.00 price target on the stock. Canaccord Genuity Group lowered their price target on MicroStrategy from $185.00 to $173.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Benchmark raised their price target on MicroStrategy from $187.50 to $215.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, TD Cowen raised their price target on MicroStrategy from $195.00 to $200.00 and gave the company a “buy” rating in a report on Monday, September 23rd. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $202.25.

Insider Transactions at MicroStrategy

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. ST Germain D J Co. Inc. purchased a new position in shares of MicroStrategy in the 1st quarter valued at approximately $29,000. Rise Advisors LLC raised its stake in MicroStrategy by 233.3% during the first quarter. Rise Advisors LLC now owns 20 shares of the software maker’s stock valued at $34,000 after buying an additional 14 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in MicroStrategy during the second quarter valued at $37,000. GAMMA Investing LLC raised its stake in MicroStrategy by 36.4% during the second quarter. GAMMA Investing LLC now owns 30 shares of the software maker’s stock valued at $41,000 after buying an additional 8 shares during the last quarter. Finally, Salem Investment Counselors Inc. purchased a new position in MicroStrategy during the first quarter valued at $55,000. Hedge funds and other institutional investors own 72.03% of the company’s stock.

MicroStrategy Stock Up 16.0 %

The stock has a 50 day simple moving average of $145.17 and a 200-day simple moving average of $146.92. The firm has a market cap of $37.71 billion, a PE ratio of -152.29 and a beta of 3.11. 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 quarterly earnings data on Thursday, August 1st. The software maker reported ($0.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.48). The company had revenue of $111.44 million for the quarter, compared to analysts’ expectations of $121.99 million. MicroStrategy had a negative net margin of 43.69% and a negative return on equity of 14.72%. The firm’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.15 EPS.

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.