MicroStrategy (NASDAQ:MSTR) Shares Gap Up to $1,590.00

MicroStrategy Incorporated (NASDAQ:MSTR) gapped up before the market opened on Thursday . The stock had previously closed at $1,590.00, but opened at $1,633.90. MicroStrategy shares last traded at $1,615.17, with a volume of 57,412 shares traded.

Wall Street Analyst Weigh In

MSTR has been the subject of several recent analyst reports. Maxim Group upgraded shares of MicroStrategy to a “strong-buy” rating in a research note on Thursday, June 27th. TD Cowen boosted their target price on MicroStrategy from $1,450.00 to $1,880.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Sanford C. Bernstein upgraded shares of MicroStrategy to a “strong-buy” rating in a research note on Friday, June 14th. BTIG Research lifted their price target on MicroStrategy from $780.00 to $1,800.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Finally, Benchmark reissued a “buy” rating and issued a $1,875.00 price objective on shares of MicroStrategy in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $2,017.67.

MicroStrategy Stock Down 2.6 %

The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.48. The firm’s fifty day moving average is $1,489.71 and its 200 day moving average is $1,196.92.

Shares of MicroStrategy are scheduled to split on Thursday, August 8th. The 10-1 split was announced on Thursday, August 8th. The newly minted shares will be payable to shareholders after the closing bell on Thursday, August 8th.

MicroStrategy (NASDAQ:MSTR) last posted its earnings results on Monday, April 29th. The software maker reported ($8.26) earnings per share for the quarter. MicroStrategy had a negative net margin of 17.40% and a negative return on equity of 8.37%. The firm had revenue of $115.25 million during the quarter, compared to analyst estimates of $124.80 million.

Insider Activity

In other news, Chairman Michael J. Saylor sold 719 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $1,338.20, for a total transaction of $962,165.80. Following the completion of the transaction, the chairman now directly owns 719 shares in the company, valued at approximately $962,165.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have sold 10,719 shares of company stock valued at $13,446,516. 13.18% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MicroStrategy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MSTR. ST Germain D J Co. Inc. purchased a new position in shares of MicroStrategy during the first quarter worth about $29,000. Rise Advisors LLC boosted its holdings in shares of MicroStrategy by 233.3% in the first quarter. Rise Advisors LLC now owns 20 shares of the software maker’s stock valued at $34,000 after acquiring an additional 14 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of MicroStrategy during the second quarter worth about $37,000. GAMMA Investing LLC raised its holdings in MicroStrategy by 36.4% during the second quarter. GAMMA Investing LLC now owns 30 shares of the software maker’s stock worth $41,000 after purchasing an additional 8 shares in the last quarter. Finally, Salem Investment Counselors Inc. acquired a new stake in MicroStrategy in the first quarter valued at about $55,000. 72.03% of the stock is owned by institutional investors and hedge funds.

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.