MicroStrategy (NASDAQ:MSTR) PT Lowered to $290.00

MicroStrategy (NASDAQ:MSTR) had its price objective lowered by analysts at Sanford C. Bernstein from $2,890.00 to $290.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the software maker’s stock. Sanford C. Bernstein’s price target suggests a potential upside of 50.97% from the stock’s previous close.

A number of other equities analysts have also recently commented on MSTR. Barclays boosted their price target on shares of MicroStrategy from $146.00 to $173.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. TD Cowen increased their target price on MicroStrategy from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Cantor Fitzgerald began coverage on MicroStrategy in a research note on Wednesday, August 21st. They set an “overweight” rating and a $194.00 price target for the company. Canaccord Genuity Group reduced their price objective on MicroStrategy from $185.00 to $173.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Finally, Benchmark upped their target price on MicroStrategy from $187.50 to $215.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $202.25.

MicroStrategy Price Performance

Shares of MSTR traded down $0.11 during mid-day trading on Wednesday, reaching $192.09. 9,962,672 shares of the stock traded hands, compared to its average volume of 16,201,521. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.31. MicroStrategy has a 1 year low of $31.43 and a 1 year high of $200.00. The company has a market cap of $34.07 billion, a price-to-earnings ratio of -28.56 and a beta of 3.11. The firm has a fifty day moving average price of $142.62 and a 200 day moving average price of $146.18.

MicroStrategy (NASDAQ:MSTR) last announced its earnings results on Thursday, August 1st. The software maker reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.48). MicroStrategy had a negative return on equity of 14.72% and a negative net margin of 43.69%. The business 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 earnings per share. MicroStrategy’s revenue was down 7.4% compared to the same quarter last year.

Insider Activity at MicroStrategy

In other MicroStrategy news, CEO Phong Le sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $138.28, for a total transaction of $6,914,000.00. Following the completion of the sale, the chief executive officer now directly owns 12,670 shares of the company’s stock, valued at approximately $1,752,007.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Phong Le sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $138.28, for a total transaction of $6,914,000.00. Following the completion of the transaction, the chief executive officer now directly owns 12,670 shares in the company, valued at approximately $1,752,007.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Wei-Ming Shao sold 3,000 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 6,460 shares in the company, valued at approximately $912,152. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 101,838 shares of company stock worth $13,950,265. 13.18% of the stock is owned by insiders.

Hedge Funds Weigh In On MicroStrategy

Several hedge funds have recently modified their holdings of MSTR. Claro Advisors LLC purchased a new position in shares of MicroStrategy during the first quarter valued at about $877,000. Virtu Financial LLC grew its holdings in shares of MicroStrategy by 151.6% in the fourth quarter. Virtu Financial LLC now owns 2,750 shares of the software maker’s stock valued at $1,737,000 after purchasing an additional 1,657 shares in the last quarter. BNP Paribas Financial Markets increased its position in MicroStrategy by 30.5% in the first quarter. BNP Paribas Financial Markets now owns 14,274 shares of the software maker’s stock worth $24,331,000 after purchasing an additional 3,333 shares during the last quarter. Miracle Mile Advisors LLC purchased a new stake in MicroStrategy during the first quarter valued at $228,000. Finally, Vanguard Group Inc. lifted its position in MicroStrategy by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 1,151,977 shares of the software maker’s stock valued at $727,612,000 after purchasing an additional 24,997 shares during the last quarter. Hedge funds and other institutional investors 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.