MicroStrategy (NASDAQ:MSTR) Shares Up 2.2% Following Analyst Upgrade

MicroStrategy Incorporated (NASDAQ:MSTR)’s share price was up 2.2% during mid-day trading on Friday after Canaccord Genuity Group raised their price target on the stock from $173.00 to $300.00. Canaccord Genuity Group currently has a buy rating on the stock. MicroStrategy traded as high as $255.75 and last traded at $249.77. Approximately 7,732,687 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 16,536,066 shares. The stock had previously closed at $244.50.

MSTR has been the subject of several other reports. Benchmark upped their price target on shares of MicroStrategy from $245.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday. BTIG Research increased their target price on MicroStrategy from $180.00 to $240.00 and gave the company a “buy” rating in a report on Monday, October 21st. Maxim Group lifted their price target on MicroStrategy from $193.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday. Sanford C. Bernstein dropped their price objective on MicroStrategy from $2,890.00 to $290.00 and set an “outperform” rating for the company in a research note on Wednesday, October 9th. Finally, Barclays raised their target price on shares of MicroStrategy from $173.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, MicroStrategy presently has a consensus rating of “Moderate Buy” and a consensus price target of $264.88.

Insiders Place Their Bets

In other news, CEO Phong Le sold 48,838 shares of MicroStrategy stock in a transaction dated 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 sale, the chief executive officer now owns 12,670 shares of the company’s stock, valued at approximately $1,715,518. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Phong Le sold 48,838 shares of the 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 completion of the transaction, the chief executive officer now owns 12,670 shares of the company’s stock, valued at approximately $1,715,518. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Wei-Ming Shao sold 3,000 shares of MicroStrategy 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 sale, the executive vice president now owns 6,460 shares in the company, valued at $912,152. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,838 shares of company stock worth $13,950,265. 13.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in MicroStrategy in the second quarter worth about $37,000. GAMMA Investing LLC increased its position in MicroStrategy by 36.4% during the 2nd quarter. GAMMA Investing LLC now owns 30 shares of the software maker’s stock valued at $41,000 after buying an additional 8 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in MicroStrategy during the first quarter valued at $58,000. FinTrust Capital Advisors LLC bought a new stake in MicroStrategy in the first quarter worth $85,000. Finally, Signaturefd LLC boosted its holdings in MicroStrategy by 13.6% in the second quarter. Signaturefd LLC now owns 50 shares of the software maker’s stock worth $69,000 after acquiring an additional 6 shares in the last quarter. 72.03% of the stock is currently owned by institutional investors.

MicroStrategy Price Performance

The firm has a fifty day moving average price of $171.91 and a two-hundred day moving average price of $153.59. The company has a quick ratio of 0.47, a current ratio of 0.65 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $40.74 billion, a P/E ratio of -109.02 and a beta of 3.05.

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

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.