Principal Financial Group Inc. Has $7.84 Million Holdings in MicroStrategy Incorporated (NASDAQ:MSTR)

Principal Financial Group Inc. boosted its position in MicroStrategy Incorporated (NASDAQ:MSTR) by 781.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,483 shares of the software maker’s stock after buying an additional 41,209 shares during the period. Principal Financial Group Inc.’s holdings in MicroStrategy were worth $7,837,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of MSTR. Allspring Global Investments Holdings LLC bought a new position in shares of MicroStrategy during the 1st quarter worth approximately $58,000. Sei Investments Co. lifted its position in shares of MicroStrategy by 36.3% during the 1st quarter. Sei Investments Co. now owns 575 shares of the software maker’s stock valued at $980,000 after acquiring an additional 153 shares during the period. Edgestream Partners L.P. bought a new position in MicroStrategy during the first quarter worth $309,000. O Shaughnessy Asset Management LLC grew its holdings in MicroStrategy by 23.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 720 shares of the software maker’s stock worth $1,227,000 after purchasing an additional 136 shares during the period. Finally, American International Group Inc. increased its stake in MicroStrategy by 20.7% in the first quarter. American International Group Inc. now owns 7,326 shares of the software maker’s stock valued at $12,488,000 after purchasing an additional 1,254 shares in the last quarter. Institutional investors own 72.03% of the company’s stock.

Insider Activity

In other MicroStrategy news, CFO Andrew Kang sold 5,700 shares of MicroStrategy stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $257.15, for a total value of $1,465,755.00. Following the sale, the chief financial officer now owns 12,080 shares of the company’s stock, valued at approximately $3,106,372. The trade was a 32.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Wei-Ming Shao sold 18,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $368.01, for a total transaction of $6,624,180.00. Following the transaction, the executive vice president now directly owns 6,460 shares of the company’s stock, valued at $2,377,344.60. This represents a 73.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 135,000 shares of company stock valued at $30,569,577 over the last three months. Corporate insiders own 13.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Barclays increased their price objective on shares of MicroStrategy from $225.00 to $275.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Maxim Group raised their price objective on MicroStrategy from $193.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Cantor Fitzgerald assumed coverage on MicroStrategy in a report on Wednesday, August 21st. They set an “overweight” rating and a $194.00 price objective for the company. Sanford C. Bernstein cut their target price on MicroStrategy from $2,890.00 to $290.00 and set an “outperform” rating on the stock in a report on Wednesday, October 9th. Finally, Benchmark boosted their price target on shares of MicroStrategy from $300.00 to $450.00 and gave the company a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $289.88.

MicroStrategy Price Performance

MSTR opened at $430.54 on Wednesday. MicroStrategy Incorporated has a 1 year low of $43.87 and a 1 year high of $449.00. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market capitalization of $87.24 billion, a price-to-earnings ratio of -204.34 and a beta of 3.05. The firm’s fifty day moving average price is $216.04 and its two-hundred day moving average price is $170.24.

MicroStrategy (NASDAQ:MSTR) last released its quarterly earnings results 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 firm had revenue of $116.07 million for the quarter, compared to analysts’ expectations of $121.45 million. MicroStrategy had a negative return on equity of 17.31% and a negative net margin of 87.05%. The firm’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($8.98) earnings per share.

MicroStrategy 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.