Independent Advisor Alliance Raises Stock Holdings in MicroStrategy Incorporated (NASDAQ:MSTR)

Independent Advisor Alliance raised its position in shares of MicroStrategy Incorporated (NASDAQ:MSTR) by 1,234.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 39,893 shares of the software maker’s stock after purchasing an additional 36,904 shares during the quarter. Independent Advisor Alliance’s holdings in MicroStrategy were worth $6,726,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. increased its holdings in MicroStrategy by 587.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 664,261 shares of the software maker’s stock worth $111,994,000 after buying an additional 567,628 shares during the period. Swiss National Bank boosted its holdings in shares of MicroStrategy by 904.7% in the 3rd quarter. Swiss National Bank now owns 468,200 shares of the software maker’s stock valued at $78,939,000 after acquiring an additional 421,600 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of MicroStrategy by 1,077.0% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 343,164 shares of the software maker’s stock worth $57,857,000 after acquiring an additional 314,007 shares during the period. International Assets Investment Management LLC raised its holdings in shares of MicroStrategy by 224,965.1% during the third quarter. International Assets Investment Management LLC now owns 238,569 shares of the software maker’s stock worth $40,223,000 after purchasing an additional 238,463 shares during the last quarter. Finally, National Pension Service lifted 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 purchasing an additional 220,500 shares during the period. 72.03% of the stock is owned by institutional investors and hedge funds.

MicroStrategy Price Performance

Shares of MicroStrategy stock opened at $421.88 on Monday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.12. MicroStrategy Incorporated has a twelve month low of $43.87 and a twelve month high of $543.00. The firm’s 50-day moving average price is $233.68 and its 200 day moving average price is $176.63.

MicroStrategy (NASDAQ:MSTR) last issued its quarterly 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). MicroStrategy had a negative return on equity of 17.31% and a negative net margin of 87.05%. The firm had revenue of $116.07 million during the quarter, compared to analyst estimates of $121.45 million. During the same period in the prior year, the firm earned ($8.98) earnings per share. The business’s revenue was down 10.3% on a year-over-year basis.

Analyst Ratings Changes

MSTR has been the subject of a number of recent research reports. TD Cowen lifted their price objective on MicroStrategy from $200.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Canaccord Genuity Group boosted their price target on MicroStrategy from $173.00 to $300.00 and gave the company 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 research note on Monday, November 4th. Sanford C. Bernstein dropped their price target on shares of MicroStrategy from $2,890.00 to $290.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 9th. Finally, Cantor Fitzgerald initiated coverage on shares of MicroStrategy in a research report on Wednesday, August 21st. They issued an “overweight” rating and a $194.00 price objective for the company. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, MicroStrategy has an average rating of “Moderate Buy” and a consensus price target of $331.13.

Insider Activity

In related news, CEO Phong Le sold 1,252 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $322.45, for a total value of $403,707.40. Following the completion of the sale, the chief executive officer now owns 13,918 shares of the company’s stock, valued at approximately $4,487,859.10. This trade represents a 8.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jeanine Montgomery sold 56,250 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $257.41, for a total value of $14,479,312.50. Following the transaction, the chief accounting officer now directly owns 5,670 shares in the company, valued at $1,459,514.70. This trade represents a 90.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 82,000 shares of company stock worth $23,231,977 over the last three months. Insiders own 13.18% 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.