MicroStrategy Incorporated (NASDAQ:MSTR – Get Free Report)’s stock price was down 11.4% during trading on Tuesday after Canaccord Genuity Group lowered their price target on the stock from $1,810.00 to $1,590.00. Canaccord Genuity Group currently has a buy rating on the stock. MicroStrategy traded as low as $1,145.88 and last traded at $1,146.01. Approximately 516,590 shares traded hands during trading, a decline of 75% from the average daily volume of 2,105,026 shares. The stock had previously closed at $1,292.97.
Several other research analysts have also recently weighed in on the company. BTIG Research raised their target price on MicroStrategy from $780.00 to $1,800.00 and gave the company a “buy” rating in a research note on Friday, April 5th. TD Cowen cut their target price on shares of MicroStrategy from $1,560.00 to $1,450.00 and set an “outperform” rating for the company in a research note on Wednesday, March 20th. StockNews.com upgraded shares of MicroStrategy to a “sell” rating in a research report on Monday, March 18th. Finally, Benchmark reiterated a “buy” rating and set a $1,875.00 price objective on shares of MicroStrategy in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,678.75.
Insiders Place Their Bets
In related news, EVP Wei-Ming Shao sold 350 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $711.32, for a total value of $248,962.00. Following the completion of the sale, the executive vice president now directly owns 453 shares of the company’s stock, valued at approximately $322,227.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Phong Le sold 10,000 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $861.24, for a total transaction of $8,612,400.00. Following the completion of the sale, the chief executive officer now directly owns 595 shares in the company, valued at $512,437.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Wei-Ming Shao sold 350 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $711.32, for a total value of $248,962.00. Following the completion of the transaction, the executive vice president now owns 453 shares in the company, valued at approximately $322,227.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 112,452 shares of company stock worth $120,206,247. Corporate insiders own 13.18% of the company’s stock.
Hedge Funds Weigh In On MicroStrategy
A number of hedge funds have recently added to or reduced their stakes in the company. CWM LLC raised its holdings in MicroStrategy by 22.6% during the third quarter. CWM LLC now owns 369 shares of the software maker’s stock valued at $121,000 after buying an additional 68 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in MicroStrategy by 12.3% during the third quarter. Commonwealth Equity Services LLC now owns 13,230 shares of the software maker’s stock worth $4,343,000 after purchasing an additional 1,454 shares during the period. Pinnacle Associates Ltd. grew its holdings in MicroStrategy by 5.5% during the third quarter. Pinnacle Associates Ltd. now owns 2,752 shares of the software maker’s stock valued at $903,000 after purchasing an additional 143 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in shares of MicroStrategy by 3.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 2,674 shares of the software maker’s stock worth $878,000 after buying an additional 99 shares during the last quarter. Finally, Stratos Wealth Partners LTD. boosted its holdings in shares of MicroStrategy by 37.8% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 959 shares of the software maker’s stock worth $315,000 after buying an additional 263 shares during the period. Institutional investors and hedge funds own 72.03% of the company’s stock.
MicroStrategy Stock Down 17.6 %
The stock has a market cap of $18.07 billion, a P/E ratio of 37.79 and a beta of 2.89. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.01. The firm’s fifty day moving average is $1,363.08 and its 200 day moving average is $820.38.
MicroStrategy (NASDAQ:MSTR – Get Free Report) last posted its quarterly earnings data on Tuesday, February 6th. The software maker reported $5.62 earnings per share for the quarter. The business had revenue of $124.48 million during the quarter, compared to analysts’ expectations of $134.90 million. MicroStrategy had a return on equity of 42.81% and a net margin of 86.47%.
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.