MicroStrategy (NASDAQ:MSTR) Shares Down 4.2%

MicroStrategy Incorporated (NASDAQ:MSTR) shares were down 4.2% during mid-day trading on Tuesday . The stock traded as low as $160.04 and last traded at $161.54. Approximately 5,028,658 shares traded hands during trading, a decline of 69% from the average daily volume of 16,214,852 shares. The stock had previously closed at $168.60.

Wall Street Analyst Weigh In

A number of brokerages have commented on MSTR. Cantor Fitzgerald initiated coverage on MicroStrategy in a research report on Wednesday, August 21st. They issued an “overweight” rating and a $194.00 price objective for the company. Canaccord Genuity Group decreased their price target on shares of MicroStrategy from $185.00 to $173.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. TD Cowen increased their price objective on shares of MicroStrategy from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Barclays lifted their target price on shares of MicroStrategy from $146.00 to $173.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Finally, Benchmark increased their price target on shares of MicroStrategy from $187.50 to $215.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $202.13.

MicroStrategy Price Performance

The company has a market capitalization of $29.12 billion, a price-to-earnings ratio of -23.65 and a beta of 3.10. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.31. The company has a 50 day moving average price of $141.80 and a 200 day moving average price of $145.41.

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

Insider Activity at MicroStrategy

In other MicroStrategy news, CEO Phong Le sold 48,838 shares of MicroStrategy stock in a transaction on Friday, August 16th. The shares were sold at an average price of $135.40, for a total transaction of $6,612,665.20. Following the completion of the sale, the chief executive officer now owns 12,670 shares of the company’s stock, valued at approximately $1,715,518. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Phong Le sold 48,838 shares of MicroStrategy stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $135.40, for a total transaction of $6,612,665.20. Following the transaction, the chief executive officer now owns 12,670 shares of the company’s stock, valued at approximately $1,715,518. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Wei-Ming Shao sold 3,000 shares of MicroStrategy stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $141.20, for a total transaction of $423,600.00. Following the transaction, the executive vice president now directly owns 6,460 shares in the company, valued at $912,152. The disclosure for this sale can be found here. Insiders have sold 101,838 shares of company stock worth $13,950,265 over the last ninety days. Company insiders own 13.18% of the company’s stock.

Institutional Investors Weigh In On MicroStrategy

A number of hedge funds have recently modified their holdings of the business. Newbridge Financial Services Group Inc. grew its position in MicroStrategy by 10.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 887 shares of the software maker’s stock valued at $1,222,000 after purchasing an additional 87 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of MicroStrategy in the second quarter valued at $553,000. Gordian Capital Singapore Pte Ltd increased its holdings in MicroStrategy by 2,416.7% during the second quarter. Gordian Capital Singapore Pte Ltd now owns 151 shares of the software maker’s stock worth $208,000 after buying an additional 145 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in MicroStrategy during the second quarter worth $106,000. Finally, SRN Advisors LLC lifted its stake in MicroStrategy by 16.1% in the second 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 and hedge funds own 72.03% 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.