MicroStrategy (NASDAQ:MSTR) Stock Price Up 7.4%

MicroStrategy Incorporated (NASDAQ:MSTR)’s share price shot up 7.4% on Thursday . The stock traded as high as $143.72 and last traded at $142.53. 3,332,124 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 16,327,476 shares. The stock had previously closed at $132.67.

Analyst Ratings Changes

MSTR has been the subject of a number of analyst reports. Canaccord Genuity Group reduced their price target on MicroStrategy from $185.00 to $173.00 and set a “buy” rating for the company in a report on Monday, September 16th. Benchmark increased their target price on MicroStrategy from $187.50 to $215.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. TD Cowen lifted their price target on shares of MicroStrategy from $145.00 to $188.00 and gave the company 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 report on Friday, June 14th. Finally, Cantor Fitzgerald assumed coverage on shares of MicroStrategy in a research report on Wednesday, August 21st. They issued an “overweight” rating and a $194.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $197.25.

MicroStrategy Stock Up 0.1 %

The stock has a market capitalization of $25.68 billion, a price-to-earnings ratio of -21.61 and a beta of 3.10. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.31. The business’s 50-day moving average is $142.47 and its two-hundred day moving average is $144.70.

MicroStrategy (NASDAQ:MSTR) last issued its earnings results on Thursday, August 1st. The software maker reported ($0.57) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.48). MicroStrategy had a negative return on equity of 14.72% and a negative net margin of 43.69%. The company had revenue of $111.44 million for the quarter, compared to analyst estimates of $121.99 million. During the same quarter in the prior year, the firm earned $0.15 earnings per share. The company’s revenue for the quarter was down 7.4% on a year-over-year basis.

Insider Buying and Selling at MicroStrategy

In other news, CEO Phong Le sold 48,838 shares of MicroStrategy stock in a transaction on 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 transaction, the chief executive officer now owns 12,670 shares in the company, valued at approximately $1,715,518. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Wei-Ming Shao sold 3,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 6,460 shares in the company, valued at $912,152. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Phong Le sold 48,838 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $135.40, for a total value 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 approximately $1,715,518. The disclosure for this sale can be found here. Insiders sold a total of 101,838 shares of company stock worth $13,950,265 in the last three months. 13.18% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MicroStrategy

Several large investors have recently modified their holdings of the business. ST Germain D J Co. Inc. purchased a new stake in MicroStrategy in the 1st quarter valued at about $29,000. Principal Securities Inc. acquired a new position in shares of MicroStrategy in the 4th quarter worth approximately $31,000. Rise Advisors LLC boosted its position in shares of MicroStrategy by 233.3% during the 1st quarter. Rise Advisors LLC now owns 20 shares of the software maker’s stock worth $34,000 after purchasing an additional 14 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in MicroStrategy in the 2nd quarter valued at approximately $37,000. Finally, GAMMA Investing LLC raised its position in MicroStrategy by 36.4% in the second quarter. GAMMA Investing LLC now owns 30 shares of the software maker’s stock valued at $41,000 after purchasing an additional 8 shares during the period. Institutional investors and hedge funds 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.