Sanford C. Bernstein Lowers MicroStrategy (NASDAQ:MSTR) Price Target to $290.00

MicroStrategy (NASDAQ:MSTR) had its price objective dropped by investment analysts at Sanford C. Bernstein from $2,890.00 to $290.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the software maker’s stock. Sanford C. Bernstein’s price target would suggest a potential upside of 50.97% from the stock’s previous close.

Several other research analysts have also recently weighed in on the company. Barclays upped their price objective on MicroStrategy from $146.00 to $173.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Maxim Group lifted their price objective on shares of MicroStrategy from $183.50 to $193.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Cantor Fitzgerald assumed coverage on shares of MicroStrategy in a report on Wednesday, August 21st. They set an “overweight” rating and a $194.00 target price for the company. TD Cowen lifted their price target on shares of MicroStrategy from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Finally, Benchmark upped their price objective on MicroStrategy from $187.50 to $215.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $202.25.

MicroStrategy Stock Down 0.1 %

NASDAQ MSTR traded down $0.11 during trading hours on Wednesday, reaching $192.09. 9,962,672 shares of the company’s stock were exchanged, compared to its average volume of 16,201,521. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market capitalization of $34.07 billion, a price-to-earnings ratio of -28.56 and a beta of 3.11. The company’s 50-day moving average is $142.62 and its two-hundred day moving average is $146.18. MicroStrategy has a one year low of $31.43 and a one year high of $200.00.

MicroStrategy (NASDAQ:MSTR) last issued its quarterly earnings data on Thursday, August 1st. The software maker reported ($0.57) 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 analyst estimates of $121.99 million. MicroStrategy had a negative return on equity of 14.72% and a negative net margin of 43.69%. The company’s revenue was down 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.15 earnings per share.

Insiders Place Their Bets

In other MicroStrategy news, CEO Phong Le sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $138.28, for a total transaction of $6,914,000.00. Following the transaction, the chief executive officer now directly owns 12,670 shares in the company, valued at approximately $1,752,007.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Wei-Ming Shao sold 3,000 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 6,460 shares of the company’s stock, valued at $912,152. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Phong Le sold 50,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $138.28, for a total transaction of $6,914,000.00. Following the completion of the transaction, the chief executive officer now directly owns 12,670 shares in the company, valued at $1,752,007.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 101,838 shares of company stock valued at $13,950,265. 13.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MicroStrategy

Several institutional investors have recently added to or reduced their stakes in the stock. UMB Bank n.a. lifted its stake in MicroStrategy by 900.0% in the third quarter. UMB Bank n.a. now owns 150 shares of the software maker’s stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. ST Germain D J Co. Inc. purchased a new stake in MicroStrategy during the first quarter valued at about $29,000. Rise Advisors LLC raised its position 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 purchasing an additional 14 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in MicroStrategy during the 2nd quarter valued at $37,000. Finally, GAMMA Investing LLC lifted its position in shares of 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 acquiring an additional 8 shares in 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.