Harvest Fund Management Co. Ltd Purchases 230 Shares of MicroStrategy Incorporated (NASDAQ:MSTR)

Harvest Fund Management Co. Ltd grew its position in MicroStrategy Incorporated (NASDAQ:MSTR) by 101.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 456 shares of the software maker’s stock after purchasing an additional 230 shares during the period. Harvest Fund Management Co. Ltd’s holdings in MicroStrategy were worth $77,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of MSTR. CANADA LIFE ASSURANCE Co lifted its stake in MicroStrategy by 19.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 1,374 shares of the software maker’s stock valued at $2,343,000 after acquiring an additional 225 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of MicroStrategy by 15.7% in the first quarter. California State Teachers Retirement System now owns 14,841 shares of the software maker’s stock worth $25,297,000 after purchasing an additional 2,015 shares in the last quarter. Cetera Investment Advisers bought a new position in MicroStrategy in the first quarter valued at $8,901,000. Teachers Retirement System of The State of Kentucky acquired a new stake in MicroStrategy in the 1st quarter valued at $1,106,000. Finally, Tactive Advisors LLC acquired a new stake in MicroStrategy in the 1st quarter valued at $917,000. 72.03% of the stock is owned by institutional investors and hedge funds.

MicroStrategy Price Performance

NASDAQ:MSTR opened at $388.84 on Thursday. MicroStrategy Incorporated has a one year low of $43.87 and a one year high of $543.00. The company has a market cap of $78.79 billion, a P/E ratio of -184.55 and a beta of 3.05. The firm’s fifty day moving average price is $243.51 and its two-hundred day moving average price is $180.24. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.65 and a quick ratio of 0.65.

MicroStrategy (NASDAQ:MSTR) last issued its quarterly earnings data 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 firm had revenue of $116.07 million during the quarter, compared to analyst estimates of $121.45 million. During the same period in the prior year, the company earned ($8.98) earnings per share. The business’s quarterly revenue was down 10.3% compared to the same quarter last year.

Insider Activity

In related news, EVP Wei-Ming Shao sold 18,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $368.01, for a total value of $6,624,180.00. Following the completion of the transaction, the executive vice president now owns 6,460 shares of the company’s stock, valued at $2,377,344.60. The trade was a 73.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Jeanine Montgomery sold 56,250 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $257.41, for a total transaction of $14,479,312.50. Following the sale, the chief accounting officer now owns 5,670 shares in the company, valued at $1,459,514.70. The trade was a 90.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 102,000 shares of company stock worth $32,259,177. Corporate insiders own 13.18% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Cantor Fitzgerald started coverage on MicroStrategy in a report on Wednesday, August 21st. They issued an “overweight” rating and a $194.00 price objective for the company. Canaccord Genuity Group raised their price target on MicroStrategy from $300.00 to $510.00 and gave the company a “buy” rating in a research note on Monday. Sanford C. Bernstein upped their price objective on MicroStrategy from $290.00 to $600.00 and gave the stock an “outperform” rating in a research note on Monday. Barclays raised their target price on shares of MicroStrategy from $275.00 to $515.00 and gave the company an “overweight” rating in a research note on Monday. Finally, TD Cowen upped their price target on shares of MicroStrategy from $392.00 to $525.00 and gave the stock a “buy” rating in a research report on Monday. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $479.25.

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.