MicroStrategy (NASDAQ:MSTR) Trading Down 2% – Here’s What Happened

MicroStrategy Incorporated (NASDAQ:MSTR)’s share price traded down 2% during trading on Friday . The stock traded as low as $327.44 and last traded at $334.24. 4,861,911 shares were traded during mid-day trading, a decline of 74% from the average session volume of 18,933,555 shares. The stock had previously closed at $341.05.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Sanford C. Bernstein reissued an “outperform” rating and issued a $600.00 price objective on shares of MicroStrategy in a research note on Thursday, December 12th. TD Cowen raised their price objective on shares of MicroStrategy from $392.00 to $525.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Canaccord Genuity Group lifted their price objective on MicroStrategy from $300.00 to $510.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. BTIG Research increased their target price on MicroStrategy from $290.00 to $570.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Maxim Group boosted their price target on MicroStrategy from $193.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $479.25.

MicroStrategy Stock Performance

The stock’s 50-day moving average is $335.46 and its 200-day moving average is $214.52. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.12. The stock has a market cap of $79.08 billion, a price-to-earnings ratio of -156.62 and a beta of 3.17.

MicroStrategy (NASDAQ:MSTR) last issued its earnings results on Wednesday, October 30th. The software maker reported ($1.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($1.44). MicroStrategy had a negative net margin of 87.05% and a negative return on equity of 17.31%. The business had revenue of $116.07 million during the quarter, compared to analysts’ expectations of $121.45 million. During the same period in the prior year, the business posted ($8.98) EPS. The business’s revenue was down 10.3% on a year-over-year basis.

Insider Buying and Selling at MicroStrategy

In other MicroStrategy news, CAO Jeanine Montgomery sold 752 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $322.45, for a total value of $242,482.40. Following the completion of the transaction, the chief accounting officer now directly owns 6,418 shares of the company’s stock, valued at $2,069,484.10. This represents a 10.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Andrew Kang sold 5,700 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $257.15, for a total value of $1,465,755.00. Following the completion of the transaction, the chief financial officer now owns 12,080 shares in the company, valued at approximately $3,106,372. This trade represents a 32.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 102,000 shares of company stock valued at $32,259,177 over the last 90 days. 13.18% of the stock is owned by corporate insiders.

Institutional Trading of MicroStrategy

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its stake in shares of MicroStrategy by 990.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,766,283 shares of the software maker’s stock valued at $465,573,000 after purchasing an additional 2,512,645 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in MicroStrategy by 971.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 639,707 shares of the software maker’s stock worth $107,855,000 after purchasing an additional 579,994 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in MicroStrategy by 587.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 664,261 shares of the software maker’s stock valued at $111,994,000 after buying an additional 567,628 shares during the last quarter. Swiss National Bank raised its stake in MicroStrategy by 904.7% during the third quarter. Swiss National Bank now owns 468,200 shares of the software maker’s stock valued at $78,939,000 after buying an additional 421,600 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in MicroStrategy by 1,077.0% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 343,164 shares of the software maker’s stock worth $57,857,000 after buying an additional 314,007 shares during the last quarter. 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.