Allspring Global Investments Holdings LLC Increases Position in MicroStrategy Incorporated (NASDAQ:MSTR)

Allspring Global Investments Holdings LLC grew its holdings in MicroStrategy Incorporated (NASDAQ:MSTR) by 820.5% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 359 shares of the software maker’s stock after buying an additional 320 shares during the period. Allspring Global Investments Holdings LLC’s holdings in MicroStrategy were worth $61,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. BNP Paribas Financial Markets increased its stake in shares of MicroStrategy by 30.5% during the first quarter. BNP Paribas Financial Markets now owns 14,274 shares of the software maker’s stock worth $24,331,000 after acquiring an additional 3,333 shares during the period. Sequoia Financial Advisors LLC acquired a new position in shares of MicroStrategy during the first quarter worth about $377,000. Jennison Associates LLC acquired a new position in shares of MicroStrategy during the first quarter worth about $806,000. Janney Montgomery Scott LLC increased its stake in shares of MicroStrategy by 16.8% during the first quarter. Janney Montgomery Scott LLC now owns 3,219 shares of the software maker’s stock worth $5,487,000 after acquiring an additional 464 shares during the period. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of MicroStrategy during the first quarter worth about $895,000. 72.03% of the stock is owned by hedge funds and other institutional investors.

MicroStrategy Stock Up 13.2 %

MSTR stock opened at $257.81 on Thursday. The company’s 50 day simple moving average is $175.19 and its 200-day simple moving average is $155.53. The firm has a market capitalization of $45.73 billion, a PE ratio of -122.36 and a beta of 3.05. MicroStrategy Incorporated has a 12 month low of $43.87 and a 12 month high of $267.89. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.65 and a quick ratio of 0.47.

MicroStrategy (NASDAQ:MSTR) last released its quarterly earnings results on Wednesday, October 30th. The software maker reported ($1.56) EPS 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 17.31%. The firm’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($8.98) earnings per share.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MSTR. BTIG Research boosted their price target on shares of MicroStrategy from $180.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Sanford C. Bernstein dropped their price target on shares of MicroStrategy from $2,890.00 to $290.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 9th. Maxim Group upped their target price on shares of MicroStrategy from $193.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Barclays upped their target price on shares of MicroStrategy from $225.00 to $275.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, TD Cowen upped their target price on shares of MicroStrategy from $200.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $271.13.

Insider Activity at MicroStrategy

In related news, CEO Phong Le sold 48,838 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were 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 of the company’s stock, valued at approximately $1,715,518. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other MicroStrategy news, EVP Wei-Ming Shao sold 3,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $141.20, for a total transaction of $423,600.00. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Phong Le sold 48,838 shares of the stock in a transaction that occurred 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 directly owns 12,670 shares in the company, valued at approximately $1,715,518. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 101,838 shares of company stock valued at $13,950,265. Company insiders own 13.18% of the company’s stock.

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.