MicroStrategy (NASDAQ:MSTR) Shares Down 1.1% – Here’s What Happened

MicroStrategy Incorporated (NASDAQ:MSTR)’s stock price dropped 1.1% during mid-day trading on Thursday . The stock traded as low as $335.00 and last traded at $345.68. Approximately 7,882,149 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 18,826,896 shares. The stock had previously closed at $349.64.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. BTIG Research raised their price target on MicroStrategy from $290.00 to $570.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Canaccord Genuity Group boosted their target price on MicroStrategy from $300.00 to $510.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Barclays increased their price target on shares of MicroStrategy from $275.00 to $515.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. TD Cowen boosted their price objective on shares of MicroStrategy from $392.00 to $525.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, Maxim Group lifted 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. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $479.25.

MicroStrategy Stock Up 11.6 %

The company has a 50 day moving average of $318.02 and a 200-day moving average of $206.87. The company has a market capitalization of $73.80 billion, a P/E ratio of -172.85 and a beta of 3.17. 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 announced its quarterly earnings results on Wednesday, October 30th. The software maker reported ($1.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($1.44). The business had revenue of $116.07 million during 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 business’s revenue was down 10.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($8.98) EPS.

Insider Activity at MicroStrategy

In other MicroStrategy news, CFO Andrew Kang sold 5,700 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $257.15, for a total value of $1,465,755.00. Following the completion of the transaction, the chief financial officer now owns 12,080 shares in the company, valued at approximately $3,106,372. This represents a 32.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jeanine Montgomery sold 56,250 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were 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 approximately $1,459,514.70. This trade represents a 90.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 102,000 shares of company stock worth $32,259,177 over the last 90 days. 13.18% of the stock is owned by company insiders.

Institutional Trading of MicroStrategy

Several hedge funds and other institutional investors have recently made changes to their positions in MSTR. Signaturefd LLC grew its stake in shares of MicroStrategy by 13.6% in the second quarter. Signaturefd LLC now owns 50 shares of the software maker’s stock worth $69,000 after acquiring an additional 6 shares during the last quarter. Crossmark Global Holdings Inc. raised its holdings in MicroStrategy by 2.8% in the second quarter. Crossmark Global Holdings Inc. now owns 400 shares of the software maker’s stock worth $551,000 after buying an additional 11 shares during the last quarter. Ballentine Partners LLC lifted its stake in shares of MicroStrategy by 5.0% in the second quarter. Ballentine Partners LLC now owns 313 shares of the software maker’s stock worth $431,000 after buying an additional 15 shares in the last quarter. Savant Capital LLC grew its holdings in shares of MicroStrategy by 2.6% during the second quarter. Savant Capital LLC now owns 599 shares of the software maker’s stock valued at $825,000 after buying an additional 15 shares during the last quarter. Finally, Oxler Private Wealth LLC increased its position in shares of MicroStrategy by 8.9% during the second quarter. Oxler Private Wealth LLC now owns 209 shares of the software maker’s stock valued at $288,000 after acquiring an additional 17 shares in the last quarter. Hedge funds and other institutional investors own 59.84% of the company’s stock.

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.