BTIG Research Boosts MicroStrategy (NASDAQ:MSTR) Price Target to $570.00

MicroStrategy (NASDAQ:MSTR) had its price target upped by BTIG Research from $290.00 to $570.00 in a research note published on Thursday,Benzinga reports. They currently have a buy rating on the software maker’s stock.

MSTR has been the topic of several other reports. Canaccord Genuity Group increased their price objective on shares of MicroStrategy from $173.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. TD Cowen raised their price objective 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. Maxim Group upped their target price on MicroStrategy from $193.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Cantor Fitzgerald started coverage on MicroStrategy in a report on Wednesday, August 21st. They set an “overweight” rating and a $194.00 price target for the company. Finally, Benchmark upped their price objective on MicroStrategy from $300.00 to $450.00 and gave the company a “buy” rating in a report on Tuesday. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $331.13.

MicroStrategy Stock Performance

NASDAQ:MSTR traded up $17.56 during mid-day trading on Thursday, hitting $414.84. The stock had a trading volume of 16,075,688 shares, compared to its average volume of 17,983,910. The company’s 50 day simple moving average is $228.07 and its 200 day simple moving average is $173.86. The stock has a market cap of $84.06 billion, a price-to-earnings ratio of -183.65 and a beta of 3.05. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.65 and a current ratio of 0.65. MicroStrategy has a twelve month low of $43.87 and a twelve month high of $543.00.

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

Insiders Place Their Bets

In related news, EVP Wei-Ming Shao sold 18,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president now 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Phong Le sold 1,252 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $322.45, for a total transaction of $403,707.40. Following the completion of the transaction, the chief executive officer now directly owns 13,918 shares in the company, valued at approximately $4,487,859.10. This represents a 8.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 82,000 shares of company stock worth $23,231,977 in the last 90 days. Company insiders own 13.18% of the company’s stock.

Institutional Investors Weigh In On MicroStrategy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE raised its holdings in shares of MicroStrategy by 782.8% during the 3rd quarter. US Bancorp DE now owns 4,255 shares of the software maker’s stock worth $717,000 after buying an additional 3,773 shares in the last quarter. Hartline Investment Corp grew its holdings in shares of MicroStrategy by 1,064.6% during the 3rd quarter. Hartline Investment Corp now owns 5,322 shares of the software maker’s stock valued at $897,000 after purchasing an additional 4,865 shares during the last quarter. National Pension Service increased its position in MicroStrategy by 900.0% during the 3rd quarter. National Pension Service now owns 245,000 shares of the software maker’s stock worth $41,307,000 after purchasing an additional 220,500 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in MicroStrategy by 848.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 37,005 shares of the software maker’s stock valued at $6,239,000 after purchasing an additional 33,105 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in MicroStrategy by 2,791.9% in the third quarter. EverSource Wealth Advisors LLC now owns 25,564 shares of the software maker’s stock valued at $4,310,000 after buying an additional 24,680 shares in the last quarter. 72.03% of the stock is currently owned by institutional investors.

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.