MicroStrategy (NASDAQ:MSTR) Shares Gap Down Following Analyst Downgrade

MicroStrategy Incorporated (NASDAQ:MSTR) gapped down before the market opened on Monday after Canaccord Genuity Group lowered their price target on the stock from $2,047.00 to $1,826.00. The stock had previously closed at $1,483.76, but opened at $1,398.00. Canaccord Genuity Group currently has a buy rating on the stock. MicroStrategy shares last traded at $1,424.91, with a volume of 209,108 shares changing hands.

Other analysts have also issued reports about the stock. Sanford C. Bernstein raised shares of MicroStrategy to a “strong-buy” rating in a research report on Friday, June 14th. TD Cowen increased their price objective on shares of MicroStrategy from $1,450.00 to $1,880.00 and gave the stock a “buy” rating in a research report on Friday. Benchmark reissued a “buy” rating and issued a $1,875.00 price objective on shares of MicroStrategy in a research report on Thursday, April 25th. BTIG Research increased their price objective on shares of MicroStrategy from $780.00 to $1,800.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Finally, StockNews.com raised shares of MicroStrategy to a “sell” rating in a research report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $2,054.20.

Insider Activity

In other news, Chairman Michael J. Saylor sold 5,000 shares of MicroStrategy stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $1,630.88, for a total transaction of $8,154,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders sold 41,996 shares of company stock valued at $61,475,247. Corporate insiders own 13.18% of the company’s stock.

Hedge Funds Weigh In On MicroStrategy

Several institutional investors and hedge funds have recently bought and sold shares of MSTR. Vanguard Group Inc. grew its holdings in MicroStrategy by 34.8% in the first quarter. Vanguard Group Inc. now owns 1,553,048 shares of the software maker’s stock worth $2,647,263,000 after purchasing an additional 401,071 shares during the last quarter. Capital International Investors grew its holdings in MicroStrategy by 14.9% in the first quarter. Capital International Investors now owns 1,791,564 shares of the software maker’s stock worth $3,053,828,000 after purchasing an additional 232,667 shares during the last quarter. Norges Bank purchased a new stake in shares of MicroStrategy during the fourth quarter valued at $70,990,000. Westfield Capital Management Co. LP purchased a new stake in shares of MicroStrategy during the first quarter valued at $60,892,000. Finally, APEIRON CAPITAL Ltd purchased a new stake in shares of MicroStrategy during the first quarter valued at $53,864,000. 72.03% of the stock is owned by hedge funds and other institutional investors.

MicroStrategy Stock Down 4.4 %

The stock has a market capitalization of $25.17 billion, a PE ratio of -221.46 and a beta of 3.08. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.78 and a quick ratio of 0.78. The business’s fifty day moving average price is $1,425.51 and its two-hundred day moving average price is $1,098.41.

MicroStrategy (NASDAQ:MSTR) last posted its earnings results on Monday, April 29th. The software maker reported ($8.26) earnings per share (EPS) for the quarter. The business had revenue of $115.25 million for the quarter, compared to analyst estimates of $124.80 million. MicroStrategy had a negative net margin of 17.40% and a negative return on equity of 8.37%.

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.