MicroStrategy (NASDAQ:MSTR) Shares Up 2.2% – Here’s Why

MicroStrategy Incorporated (NASDAQ:MSTR) shares shot up 2.2% during mid-day trading on Friday . The company traded as high as $279.38 and last traded at $276.87. 5,813,604 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 16,650,955 shares. The stock had previously closed at $270.81.

Analysts Set New Price Targets

A number of research firms recently issued reports on MSTR. Canaccord Genuity Group raised their price objective on shares of MicroStrategy from $173.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. TD Cowen raised their price objective on shares of MicroStrategy from $200.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Barclays raised their price objective on shares of MicroStrategy from $225.00 to $275.00 and gave the stock an “overweight” rating in a report on Monday. Sanford C. Bernstein dropped their price objective on shares of MicroStrategy from $2,890.00 to $290.00 and set an “outperform” rating on the stock in a report on Wednesday, October 9th. Finally, Cantor Fitzgerald assumed coverage on shares of MicroStrategy in a report on Wednesday, August 21st. They set an “overweight” rating and a $194.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to MarketBeat, MicroStrategy has an average rating of “Moderate Buy” and an average price target of $271.13.

MicroStrategy Price Performance

The firm’s fifty day simple moving average is $180.47 and its two-hundred day simple moving average is $157.04. The company has a quick ratio of 0.47, a current ratio of 0.65 and a debt-to-equity ratio of 1.12. The firm has a market cap of $48.06 billion, a PE ratio of -131.40 and a beta of 3.05.

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

Insider Buying and Selling

In related news, CEO Phong Le sold 48,838 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $135.40, for a total value of $6,612,665.20. Following the sale, the chief executive officer now owns 12,670 shares in the company, valued at approximately $1,715,518. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Wei-Ming Shao sold 3,000 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $141.20, for a total value of $423,600.00. Following the sale, the executive vice president now owns 6,460 shares in the company, valued at approximately $912,152. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Phong Le sold 48,838 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 12,670 shares in the company, valued at $1,715,518. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 101,838 shares of company stock worth $13,950,265. Insiders own 13.18% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. National Pension Service increased its position in MicroStrategy by 900.0% during the third quarter. National Pension Service now owns 245,000 shares of the software maker’s stock valued at $41,307,000 after acquiring an additional 220,500 shares during the last quarter. Comprehensive Financial Consultants Institutional Inc. boosted its holdings in MicroStrategy by 973.5% during the 3rd quarter. Comprehensive Financial Consultants Institutional Inc. now owns 4,380 shares of the software maker’s stock valued at $738,000 after acquiring an additional 3,972 shares during the period. Farther Finance Advisors LLC grew its position in MicroStrategy by 3,905.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,605 shares of the software maker’s stock valued at $608,000 after acquiring an additional 3,515 shares during the last quarter. Gulf International Bank UK Ltd increased its stake in MicroStrategy by 857.4% in the third quarter. Gulf International Bank UK Ltd now owns 12,302 shares of the software maker’s stock worth $2,074,000 after purchasing an additional 11,017 shares during the period. Finally, Van ECK Associates Corp lifted its position in shares of MicroStrategy by 1,065.3% during the third quarter. Van ECK Associates Corp now owns 154,548 shares of the software maker’s stock worth $26,057,000 after purchasing an additional 141,286 shares during the last quarter. 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.