MicroStrategy (NASDAQ:MSTR) Stock Price Down 4.8% Following Analyst Downgrade

Shares of MicroStrategy Incorporated (NASDAQ:MSTR) were down 4.8% on Monday after Canaccord Genuity Group lowered their price target on the stock from $185.00 to $173.00. Canaccord Genuity Group currently has a buy rating on the stock. MicroStrategy traded as low as $133.44 and last traded at $134.67. Approximately 816,202 shares changed hands during trading, a decline of 95% from the average daily volume of 16,329,228 shares. The stock had previously closed at $141.47.

A number of other equities research analysts also recently weighed in on the company. Maxim Group lifted their target price on MicroStrategy from $183.50 to $193.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Sanford C. Bernstein raised MicroStrategy to a “strong-buy” rating in a report on Friday, June 14th. Cantor Fitzgerald initiated coverage on MicroStrategy in a report on Wednesday, August 21st. They set an “overweight” rating and a $194.00 price objective on the stock. Benchmark lifted their price objective on MicroStrategy from $187.50 to $215.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Barclays initiated coverage on MicroStrategy in a report on Friday, September 6th. They set an “overweight” rating and a $146.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, MicroStrategy currently has an average rating of “Moderate Buy” and an average target price of $197.25.

Insider Transactions at MicroStrategy

In other news, CEO Phong Le sold 48,838 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $135.40, for a total value of $6,612,665.20. Following the transaction, the chief executive officer now directly owns 12,670 shares of the company’s stock, valued at approximately $1,715,518. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Wei-Ming Shao sold 3,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 6,460 shares in the company, valued at approximately $912,152. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Phong Le sold 48,838 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $135.40, for a total transaction of $6,612,665.20. Following the completion of the transaction, the chief executive officer now owns 12,670 shares of the company’s stock, valued at approximately $1,715,518. The disclosure for this sale can be found here. Insiders have sold 101,838 shares of company stock valued at $13,950,265 in the last three months. 13.18% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. raised its position in shares of MicroStrategy by 10.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 887 shares of the software maker’s stock valued at $1,222,000 after acquiring an additional 87 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of MicroStrategy during the 2nd quarter valued at $553,000. Gordian Capital Singapore Pte Ltd raised its position in shares of MicroStrategy by 2,416.7% during the 2nd quarter. Gordian Capital Singapore Pte Ltd now owns 151 shares of the software maker’s stock valued at $208,000 after acquiring an additional 145 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of MicroStrategy during the 2nd quarter valued at $106,000. Finally, SRN Advisors LLC raised its position in shares of MicroStrategy by 16.1% during the 2nd quarter. SRN Advisors LLC now owns 2,122 shares of the software maker’s stock valued at $2,923,000 after acquiring an additional 294 shares during the last quarter. Institutional investors own 72.03% of the company’s stock.

MicroStrategy Stock Down 2.4 %

The firm’s 50-day simple moving average is $142.12 and its 200 day simple moving average is $144.54. The company has a market cap of $23.28 billion, a P/E ratio of -19.71 and a beta of 3.10. 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 (NASDAQ:MSTR) last released 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 quarter in the prior year, the company earned $0.15 EPS. MicroStrategy’s quarterly revenue was down 7.4% on a year-over-year basis.

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.