MicroStrategy (NASDAQ:MSTR) Shares Up 2.2% After Analyst Upgrade

Shares of MicroStrategy Incorporated (NASDAQ:MSTR) shot up 2.2% during mid-day trading on Friday after Canaccord Genuity Group raised their price target on the stock from $173.00 to $300.00. Canaccord Genuity Group currently has a buy rating on the stock. MicroStrategy traded as high as $255.75 and last traded at $249.77. 7,732,687 shares were traded during mid-day trading, a decline of 53% from the average session volume of 16,536,066 shares. The stock had previously closed at $244.50.

A number of other research firms have also recently issued reports on MSTR. BTIG Research increased their target price on MicroStrategy from $180.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Benchmark boosted their price objective on shares of MicroStrategy from $245.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday. Maxim Group increased their target price on MicroStrategy from $193.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday. Cantor Fitzgerald began coverage on MicroStrategy in a research report on Wednesday, August 21st. They set an “overweight” rating and a $194.00 price objective for the company. Finally, TD Cowen boosted their target price on MicroStrategy from $200.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $264.88.

Insiders Place Their Bets

In other news, EVP Wei-Ming Shao sold 3,000 shares of MicroStrategy stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $141.20, for a total value of $423,600.00. Following the completion of the transaction, the executive vice president now owns 6,460 shares of the company’s stock, valued at $912,152. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Wei-Ming Shao sold 3,000 shares of the stock in a transaction on Thursday, August 22nd. The stock was 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Phong Le sold 48,838 shares of MicroStrategy stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $135.40, for a total transaction of $6,612,665.20. Following the sale, the chief executive officer now directly owns 12,670 shares of the company’s stock, valued at $1,715,518. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,838 shares of company stock valued at $13,950,265. 13.18% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MicroStrategy

A number of hedge funds have recently bought and sold shares of MSTR. PNC Financial Services Group Inc. raised its position in shares of MicroStrategy by 300.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 124 shares of the software maker’s stock valued at $78,000 after buying an additional 93 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in MicroStrategy in the first quarter valued at about $58,000. Sequoia Financial Advisors LLC bought a new stake in MicroStrategy during the first quarter worth about $377,000. BNP Paribas Financial Markets increased its holdings in MicroStrategy by 30.5% in the 1st quarter. BNP Paribas Financial Markets now owns 14,274 shares of the software maker’s stock valued at $24,331,000 after buying an additional 3,333 shares during the period. Finally, Janney Montgomery Scott LLC raised its position in shares of MicroStrategy by 16.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 3,219 shares of the software maker’s stock valued at $5,487,000 after buying an additional 464 shares in the last quarter. 72.03% of the stock is owned by institutional investors.

MicroStrategy Stock Performance

The stock’s fifty day moving average price is $171.91 and its two-hundred day moving average price is $153.59. The company has a market cap of $40.74 billion, a P/E ratio of -109.02 and a beta of 3.11. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.47 and a current ratio of 0.47.

MicroStrategy (NASDAQ:MSTR) last released its quarterly earnings data on Wednesday, October 30th. The software maker reported ($1.56) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($1.44). The business had revenue of $116.07 million during the quarter, compared to analyst estimates of $121.45 million. MicroStrategy had a negative net margin of 87.05% and a negative return on equity of 19.60%. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period last year, the business earned ($8.98) earnings per share.

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.