MicroStrategy (NASDAQ:MSTR) Stock Price Down 2.4%

Shares of MicroStrategy Incorporated (NASDAQ:MSTR) fell 2.4% on Wednesday . The company traded as low as $1,283.33 and last traded at $1,288.01. 358,305 shares changed hands during trading, a decline of 81% from the average session volume of 1,842,180 shares. The stock had previously closed at $1,320.19.

Analyst Ratings Changes

A number of research firms recently weighed in on MSTR. Canaccord Genuity Group dropped their price target on MicroStrategy from $2,047.00 to $1,826.00 and set a “buy” rating on the stock in a research note on Monday, June 24th. Maxim Group raised MicroStrategy to a “strong-buy” rating in a research note on Thursday, June 27th. StockNews.com raised MicroStrategy to a “sell” rating in a research note on Monday, March 18th. TD Cowen increased their price objective on MicroStrategy from $1,450.00 to $1,880.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Finally, BTIG Research lifted their price target on MicroStrategy from $780.00 to $1,800.00 and gave the stock a “buy” rating in a report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, MicroStrategy has a consensus rating of “Buy” and a consensus target price of $2,017.67.

MicroStrategy Stock Performance

The stock has a market capitalization of $23.10 billion, a P/E ratio of -194.34 and a beta of 3.11. The company has a 50 day simple moving average of $1,449.31 and a 200-day simple moving average of $1,142.15. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.78 and a quick ratio of 0.78.

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

Insider Activity

In other news, Chairman Michael J. Saylor sold 5,000 shares of MicroStrategy stock in a transaction on Monday, April 8th. The stock was sold at an average price of $1,537.40, for a total value of $7,687,000.00. Following the completion of the transaction, the chairman now directly owns 994 shares in the company, valued at $1,528,175.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last three months, insiders sold 30,168 shares of company stock worth $41,761,428. 13.18% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MicroStrategy

Several hedge funds have recently made changes to their positions in MSTR. ST Germain D J Co. Inc. purchased a new position in MicroStrategy during the first quarter worth about $29,000. Rise Advisors LLC grew its position in MicroStrategy by 233.3% during the first quarter. Rise Advisors LLC now owns 20 shares of the software maker’s stock worth $34,000 after buying an additional 14 shares in the last quarter. GAMMA Investing LLC grew its position in MicroStrategy by 36.4% during the second quarter. GAMMA Investing LLC now owns 30 shares of the software maker’s stock worth $41,000 after buying an additional 8 shares in the last quarter. Salem Investment Counselors Inc. purchased a new position in MicroStrategy during the first quarter worth about $55,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in MicroStrategy during the first quarter worth about $58,000. 72.03% of the stock is currently owned by hedge funds and other 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.