Horizon Kinetics Asset Management LLC Raises Stock Position in MicroStrategy Incorporated (NASDAQ:MSTR)

Horizon Kinetics Asset Management LLC lifted its position in shares of MicroStrategy Incorporated (NASDAQ:MSTR) by 924.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,905 shares of the software maker’s stock after acquiring an additional 174,069 shares during the quarter. MicroStrategy accounts for about 0.5% of Horizon Kinetics Asset Management LLC’s holdings, making the stock its 22nd biggest position. Horizon Kinetics Asset Management LLC owned about 0.10% of MicroStrategy worth $32,524,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in MicroStrategy by 587.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 664,261 shares of the software maker’s stock worth $111,994,000 after acquiring an additional 567,628 shares during the last quarter. Swiss National Bank raised its position in shares of MicroStrategy by 904.7% during the 3rd quarter. Swiss National Bank now owns 468,200 shares of the software maker’s stock worth $78,939,000 after purchasing an additional 421,600 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of MicroStrategy by 1,077.0% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 343,164 shares of the software maker’s stock worth $57,857,000 after purchasing an additional 314,007 shares during the last quarter. International Assets Investment Management LLC lifted its stake in MicroStrategy by 224,965.1% in the 3rd quarter. International Assets Investment Management LLC now owns 238,569 shares of the software maker’s stock valued at $40,223,000 after buying an additional 238,463 shares in the last quarter. Finally, National Pension Service grew its holdings in MicroStrategy by 900.0% during the 3rd quarter. National Pension Service now owns 245,000 shares of the software maker’s stock valued at $41,307,000 after buying an additional 220,500 shares during the last quarter. Institutional investors and hedge funds own 72.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. TD Cowen boosted their price target on MicroStrategy from $200.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Cantor Fitzgerald started coverage on shares of MicroStrategy in a research note on Wednesday, August 21st. They set an “overweight” rating and a $194.00 price target on the stock. BTIG Research lifted their price target on shares of MicroStrategy from $290.00 to $570.00 and gave the stock a “buy” rating in a report on Thursday. Benchmark raised their target price on shares of MicroStrategy from $450.00 to $650.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Maxim Group increased their price target on MicroStrategy from $193.00 to $270.00 and gave the stock a “buy” rating in a research note 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 stock. Based on data from MarketBeat.com, MicroStrategy presently has an average rating of “Moderate Buy” and an average price target of $451.13.

MicroStrategy Stock Up 3.9 %

Shares of MSTR opened at $438.25 on Monday. MicroStrategy Incorporated has a fifty-two week low of $43.87 and a fifty-two week high of $543.00. The company’s fifty day moving average is $233.68 and its two-hundred day moving average is $176.63. The firm has a market cap of $88.81 billion, a PE ratio of -208.00 and a beta of 3.05. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.12.

MicroStrategy (NASDAQ:MSTR) last issued its earnings results on Wednesday, October 30th. The software maker reported ($1.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($1.44). The firm 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%. MicroStrategy’s revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($8.98) EPS.

Insider Transactions at MicroStrategy

In other MicroStrategy news, EVP Wei-Ming Shao sold 18,000 shares of the firm’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 transaction, the executive vice president now directly owns 6,460 shares of the company’s stock, valued at $2,377,344.60. This trade 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 this hyperlink. Also, CAO Jeanine Montgomery sold 56,250 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $257.41, for a total value of $14,479,312.50. Following the transaction, the chief accounting officer now owns 5,670 shares in the company, valued at approximately $1,459,514.70. This represents a 90.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 82,000 shares of company stock worth $23,231,977. 13.18% of the stock is currently owned by company insiders.

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.