MicroStrategy (NASDAQ:MSTR) Sees Large Volume Increase on Analyst Upgrade

Shares of MicroStrategy Incorporated (NASDAQ:MSTR) saw unusually-high trading volume on Thursday after BTIG Research raised their price target on the stock from $290.00 to $570.00. BTIG Research currently has a buy rating on the stock. Approximately 15,694,022 shares changed hands during mid-day trading, a decline of 11% from the previous session’s volume of 17,617,355 shares.The stock last traded at $525.44 and had previously closed at $473.83.

A number of other research firms have also weighed in on MSTR. Maxim Group boosted their target price on shares of MicroStrategy from $193.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Cantor Fitzgerald began coverage on MicroStrategy in a research report on Wednesday, August 21st. They set an “overweight” rating and a $194.00 price objective on the stock. Canaccord Genuity Group lifted their price target on shares of MicroStrategy from $173.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Benchmark raised their price objective on shares of MicroStrategy from $300.00 to $450.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, TD Cowen increased their price target on shares of MicroStrategy from $200.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $331.13.

Insider Buying and Selling

In other news, CFO Andrew Kang sold 5,700 shares of MicroStrategy stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $257.15, for a total value of $1,465,755.00. Following the completion of the sale, the chief financial officer now directly owns 12,080 shares of the company’s stock, valued at approximately $3,106,372. This trade represents a 32.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jeanine Montgomery sold 56,250 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $257.41, for a total value of $14,479,312.50. Following the transaction, the chief accounting officer now directly owns 5,670 shares in the company, valued at $1,459,514.70. This trade represents a 90.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 82,000 shares of company stock worth $23,231,977 in the last 90 days. Corporate insiders own 13.18% of the company’s stock.

Hedge Funds Weigh In On MicroStrategy

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. bought a new position in MicroStrategy during the second quarter worth about $37,000. GAMMA Investing LLC grew its holdings in MicroStrategy by 36.4% during the second quarter. GAMMA Investing LLC now owns 30 shares of the software maker’s stock valued at $41,000 after purchasing an additional 8 shares during the period. Signaturefd LLC increased its stake in MicroStrategy by 13.6% in the second quarter. Signaturefd LLC now owns 50 shares of the software maker’s stock valued at $69,000 after purchasing an additional 6 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in MicroStrategy in the second quarter valued at approximately $106,000. Finally, Larson Financial Group LLC raised its holdings in MicroStrategy by 72.3% in the second quarter. Larson Financial Group LLC now owns 81 shares of the software maker’s stock worth $112,000 after purchasing an additional 34 shares during the period. 72.03% of the stock is owned by institutional investors.

MicroStrategy Trading Down 18.2 %

The company has a market capitalization of $78.52 billion, a P/E ratio of -183.65 and a beta of 3.05. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.65 and a quick ratio of 0.65. The business’s 50-day moving average price is $228.07 and its two-hundred day moving average price is $173.86.

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

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.