MicroStrategy (NASDAQ:MSTR) Stock Price Up 7.8% – Here’s What Happened

MicroStrategy Incorporated (NASDAQ:MSTR) rose 7.8% during trading on Friday . The stock traded as high as $355.80 and last traded at $351.88. Approximately 10,781,721 shares changed hands during trading, a decline of 43% from the average daily volume of 18,866,801 shares. The stock had previously closed at $326.46.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. BTIG Research upped their price target on MicroStrategy from $290.00 to $570.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Benchmark upped their price target on MicroStrategy from $450.00 to $650.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Sanford C. Bernstein reiterated an “outperform” rating and set a $600.00 price target on shares of MicroStrategy in a report on Thursday, December 12th. Canaccord Genuity Group upped their price target on MicroStrategy from $300.00 to $510.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, Barclays upped their price target on MicroStrategy from $275.00 to $515.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $479.25.

MicroStrategy Price Performance

The stock has a market cap of $73.80 billion, a P/E ratio of -172.85 and a beta of 3.17. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.65 and a current ratio of 0.65. The business has a 50 day simple moving average of $321.05 and a 200-day simple moving average of $208.27.

MicroStrategy (NASDAQ:MSTR) last announced its quarterly earnings data 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). The business had revenue of $116.07 million during the quarter, compared to the consensus estimate of $121.45 million. MicroStrategy had a negative net margin of 87.05% and a negative return on equity of 17.31%. The firm’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter last year, the company earned ($8.98) EPS.

Insider Buying and Selling

In related news, CAO Jeanine Montgomery sold 752 shares of MicroStrategy stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $322.45, for a total value of $242,482.40. Following the completion of the sale, the chief accounting officer now owns 6,418 shares of the company’s stock, valued at approximately $2,069,484.10. This trade represents a 10.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Phong Le sold 1,252 shares of MicroStrategy stock in a transaction dated 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 directly 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 102,000 shares of company stock valued at $32,259,177. 13.18% of the stock is owned by insiders.

Institutional Investors Weigh In On MicroStrategy

Large investors have recently added to or reduced their stakes in the company. UMB Bank n.a. increased its holdings in MicroStrategy by 900.0% in the 3rd quarter. UMB Bank n.a. now owns 150 shares of the software maker’s stock worth $25,000 after acquiring an additional 135 shares during the last quarter. AlphaMark Advisors LLC boosted its stake in MicroStrategy by 2,900.0% in the 3rd quarter. AlphaMark Advisors LLC now owns 150 shares of the software maker’s stock worth $25,000 after purchasing an additional 145 shares during the period. Capital Performance Advisors LLP bought a new position in MicroStrategy in the 3rd quarter worth about $27,000. Sunbelt Securities Inc. boosted its stake in MicroStrategy by 900.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 160 shares of the software maker’s stock worth $27,000 after purchasing an additional 144 shares during the period. Finally, ST Germain D J Co. Inc. boosted its stake in MicroStrategy by 900.0% in the 3rd quarter. ST Germain D J Co. Inc. now owns 170 shares of the software maker’s stock worth $29,000 after purchasing an additional 153 shares during the period. Hedge funds and other institutional investors own 59.84% 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.