Kingsview Wealth Management LLC Raises Position in MicroStrategy Incorporated (NASDAQ:MSTR)

Kingsview Wealth Management LLC lifted its stake in shares of MicroStrategy Incorporated (NASDAQ:MSTR) by 852.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,810 shares of the software maker’s stock after buying an additional 3,410 shares during the period. Kingsview Wealth Management LLC’s holdings in MicroStrategy were worth $642,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Signaturefd LLC lifted its stake in MicroStrategy by 13.6% during the 2nd quarter. Signaturefd LLC now owns 50 shares of the software maker’s stock valued at $69,000 after acquiring an additional 6 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of MicroStrategy by 36.4% in the second quarter. GAMMA Investing LLC now owns 30 shares of the software maker’s stock valued at $41,000 after acquiring an additional 8 shares in the last quarter. Cigna Investments Inc. New increased its position in shares of MicroStrategy by 5.1% during the second quarter. Cigna Investments Inc. New now owns 164 shares of the software maker’s stock valued at $226,000 after acquiring an additional 8 shares during the last quarter. Crossmark Global Holdings Inc. lifted its holdings in MicroStrategy by 2.8% during the second quarter. Crossmark Global Holdings Inc. now owns 400 shares of the software maker’s stock worth $551,000 after acquiring an additional 11 shares during the period. Finally, Dakota Wealth Management boosted its position in MicroStrategy by 0.3% in the second quarter. Dakota Wealth Management now owns 4,515 shares of the software maker’s stock worth $6,219,000 after purchasing an additional 15 shares during the last quarter. Institutional investors own 72.03% of the company’s stock.

Insiders Place Their Bets

In other MicroStrategy news, CFO Andrew Kang sold 5,700 shares of MicroStrategy stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $257.15, for a total transaction of $1,465,755.00. Following the completion of the sale, the chief financial officer now directly owns 12,080 shares in the company, valued at $3,106,372. The trade was a 32.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stephen X. Graham sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $451.36, for a total transaction of $9,027,200.00. Following the completion of the transaction, the director now directly owns 6,970 shares of the company’s stock, valued at approximately $3,145,979.20. This represents a 74.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 102,000 shares of company stock worth $32,259,177 in the last three months. 13.18% of the stock is currently owned by corporate insiders.

MicroStrategy Stock Performance

Shares of MSTR opened at $388.84 on Thursday. MicroStrategy Incorporated has a 52-week low of $43.87 and a 52-week high of $543.00. The stock’s 50-day simple moving average is $243.51 and its 200 day simple moving average is $180.24. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market capitalization of $78.79 billion, a price-to-earnings ratio of -184.55 and a beta of 3.05.

MicroStrategy (NASDAQ:MSTR) last announced its quarterly earnings results on Wednesday, October 30th. The software maker reported ($1.56) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($1.44). MicroStrategy had a negative net margin of 87.05% and a negative return on equity of 17.31%. The company had revenue of $116.07 million for the quarter, compared to the consensus estimate of $121.45 million. During the same quarter in the prior year, the company earned ($8.98) earnings per share. The company’s quarterly revenue was down 10.3% on a year-over-year basis.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Barclays raised their price objective on shares of MicroStrategy from $275.00 to $515.00 and gave the stock an “overweight” rating in a report on Monday. TD Cowen raised their target price on MicroStrategy from $392.00 to $525.00 and gave the stock a “buy” rating in a research report on Monday. Benchmark upped their price target on MicroStrategy from $450.00 to $650.00 and gave the company a “buy” rating in a research report on Monday. BTIG Research lifted their price objective on MicroStrategy from $290.00 to $570.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, Maxim Group boosted their price objective on MicroStrategy from $193.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, MicroStrategy has a consensus rating of “Moderate Buy” and a consensus price target of $479.25.

MicroStrategy 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.