MicroStrategy (NASDAQ:MSTR) Trading 7.8% Higher – Here’s What Happened

MicroStrategy Incorporated (NASDAQ:MSTR) shares traded up 7.8% on Wednesday . The stock traded as high as $361.00 and last traded at $358.18. 16,377,780 shares were traded during mid-day trading, a decline of 14% from the average session volume of 19,015,719 shares. The stock had previously closed at $332.23.

Wall Street Analyst Weigh In

MSTR has been the topic of a number of research analyst reports. Benchmark increased their target price on MicroStrategy from $450.00 to $650.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Canaccord Genuity Group upped their price target on MicroStrategy from $300.00 to $510.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Barclays lifted 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, November 25th. TD Cowen raised their price target on shares of MicroStrategy from $392.00 to $525.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, BTIG Research lifted their price target on shares of MicroStrategy from $290.00 to $570.00 and gave the company a “buy” rating in a report on Thursday, November 21st. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $479.25.

MicroStrategy Stock Performance

The stock has a market cap of $81.73 billion, a price-to-earnings ratio of -161.86 and a beta of 3.17. The company’s 50 day simple moving average is $333.18 and its 200 day simple moving average is $213.34. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.65 and a current ratio of 0.65.

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

Insider Transactions at MicroStrategy

In related news, CAO Jeanine Montgomery sold 56,250 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $257.41, for a total transaction of $14,479,312.50. Following the completion of the sale, the chief accounting officer now directly owns 5,670 shares of the company’s stock, valued at $1,459,514.70. This represents a 90.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen X. Graham sold 20,000 shares of MicroStrategy 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 owns 6,970 shares in the company, valued at approximately $3,145,979.20. This trade represents a 74.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 102,000 shares of company stock valued at $32,259,177. Corporate insiders own 13.18% of the company’s stock.

Hedge Funds Weigh In On MicroStrategy

A number of institutional investors have recently bought and sold shares of MSTR. Arkadios Wealth Advisors increased its position in shares of MicroStrategy by 28.6% in the second quarter. Arkadios Wealth Advisors now owns 247 shares of the software maker’s stock worth $340,000 after acquiring an additional 55 shares in the last quarter. Crossmark Global Holdings Inc. boosted its stake in MicroStrategy by 2.8% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 400 shares of the software maker’s stock worth $551,000 after purchasing an additional 11 shares during the period. Signaturefd LLC grew its position in MicroStrategy by 13.6% during the 2nd quarter. Signaturefd LLC now owns 50 shares of the software maker’s stock worth $69,000 after purchasing an additional 6 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in MicroStrategy by 99.9% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 3,173 shares of the software maker’s stock valued at $4,371,000 after purchasing an additional 1,586 shares during the period. Finally, Maryland State Retirement & Pension System purchased a new position in shares of MicroStrategy during the second quarter valued at $1,681,000. Hedge funds and other institutional investors own 59.84% 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.