Canaccord Genuity Group Lowers MicroStrategy (NASDAQ:MSTR) Price Target to $173.00

MicroStrategy (NASDAQ:MSTR) had its price target dropped by Canaccord Genuity Group from $185.00 to $173.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the software maker’s stock. Canaccord Genuity Group’s price objective suggests a potential upside of 31.79% from the company’s current price.

MSTR has been the topic of several other reports. Benchmark increased their target price on shares of MicroStrategy from $187.50 to $215.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Cantor Fitzgerald assumed coverage on shares of MicroStrategy in a research note on Wednesday, August 21st. They set an “overweight” rating and a $194.00 target price on the stock. TD Cowen increased their target price on shares of MicroStrategy from $145.00 to $188.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Barclays assumed coverage on shares of MicroStrategy in a research note on Friday, September 6th. They set an “overweight” rating and a $146.00 target price on the stock. Finally, Sanford C. Bernstein raised shares of MicroStrategy to a “strong-buy” rating in a research note on Friday, June 14th. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $197.25.

MicroStrategy Trading Down 2.4 %

NASDAQ:MSTR opened at $131.27 on Monday. The firm’s fifty day moving average is $142.12 and its 200-day moving average is $144.54. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.47 and a current ratio of 0.47. MicroStrategy has a 52 week low of $30.71 and a 52 week high of $200.00. The firm has a market cap of $23.28 billion, a P/E ratio of -19.71 and a beta of 3.10.

MicroStrategy (NASDAQ:MSTR) last posted its quarterly earnings data on Thursday, August 1st. The software maker reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.48). MicroStrategy had a negative net margin of 43.69% and a negative return on equity of 14.72%. The firm had revenue of $111.44 million during the quarter, compared to the consensus estimate of $121.99 million. During the same period in the prior year, the company posted $0.15 earnings per share. The company’s revenue for the quarter was down 7.4% compared to the same quarter last year.

Insider Buying and Selling at MicroStrategy

In other MicroStrategy news, EVP Wei-Ming Shao sold 3,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $141.20, for a total value of $423,600.00. Following the transaction, the executive vice president now directly owns 6,460 shares of the company’s stock, valued at $912,152. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Phong Le sold 50,000 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $138.28, for a total value of $6,914,000.00. Following the completion of the sale, the chief executive officer now owns 12,670 shares in the company, valued at $1,752,007.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Wei-Ming Shao sold 3,000 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $141.20, for a total transaction of $423,600.00. Following the completion of the sale, the executive vice president now owns 6,460 shares of the company’s stock, valued at approximately $912,152. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,838 shares of company stock valued at $13,950,265. Corporate insiders own 13.18% of the company’s stock.

Institutional Trading of MicroStrategy

Institutional investors and hedge funds have recently made changes to their positions in the company. ST Germain D J Co. Inc. purchased a new stake in shares of MicroStrategy in the first quarter valued at about $29,000. Rise Advisors LLC raised its holdings in shares of MicroStrategy by 233.3% in the first quarter. Rise Advisors LLC now owns 20 shares of the software maker’s stock valued at $34,000 after purchasing an additional 14 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of MicroStrategy in the second quarter valued at about $37,000. GAMMA Investing LLC increased its holdings 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 during the last quarter. Finally, Salem Investment Counselors Inc. purchased a new stake in MicroStrategy during the first quarter worth about $55,000. Hedge funds and other institutional investors own 72.03% of the company’s stock.

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.