MicroStrategy (NASDAQ:MSTR) Stock Price Down 0.2% – Here’s What Happened

MicroStrategy Incorporated (NASDAQ:MSTR) dropped 0.2% during trading on Thursday . The company traded as low as $425.78 and last traded at $473.00. Approximately 46,079,982 shares were traded during trading, an increase of 160% from the average daily volume of 17,733,697 shares. The stock had previously closed at $473.83.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MSTR shares. BTIG Research upped their target price on MicroStrategy from $290.00 to $570.00 and gave the stock a “buy” rating in a research report on Thursday. Barclays boosted their price target on shares of MicroStrategy from $225.00 to $275.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Maxim Group raised their target price on shares of MicroStrategy from $193.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Sanford C. Bernstein reduced 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, Canaccord Genuity Group boosted their target price on MicroStrategy from $173.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $331.13.

MicroStrategy Trading Up 6.2 %

The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.12. The stock’s 50-day moving average is $233.68 and its 200 day moving average is $175.91.

MicroStrategy (NASDAQ:MSTR) last posted its quarterly earnings results 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 company had revenue of $116.07 million during the quarter, compared to analyst estimates of $121.45 million. MicroStrategy had a negative return on equity of 17.31% and a negative net margin of 87.05%. The company’s revenue was down 10.3% compared to the same quarter last year. During the same period last year, the company posted ($8.98) earnings per share.

Insider Activity at MicroStrategy

In other MicroStrategy news, CAO Jeanine Montgomery sold 56,250 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $257.41, for a total transaction of $14,479,312.50. Following the transaction, the chief accounting officer now owns 5,670 shares in the company, valued at $1,459,514.70. This trade represents a 90.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Andrew Kang sold 5,700 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was 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 owns 12,080 shares of the company’s stock, valued at $3,106,372. The trade was a 32.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 82,000 shares of company stock valued at $23,231,977. 13.18% of the stock is owned by corporate insiders.

Institutional Trading of MicroStrategy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MSTR. Geode Capital Management LLC boosted its position in shares of MicroStrategy by 990.6% in the third quarter. Geode Capital Management LLC now owns 2,766,283 shares of the software maker’s stock valued at $465,573,000 after acquiring an additional 2,512,645 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in MicroStrategy by 587.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 664,261 shares of the software maker’s stock valued at $111,994,000 after purchasing an additional 567,628 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in MicroStrategy by 971.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 639,707 shares of the software maker’s stock worth $107,855,000 after purchasing an additional 579,994 shares during the last quarter. Swiss National Bank increased its holdings in shares of MicroStrategy by 904.7% during the 3rd quarter. Swiss National Bank now owns 468,200 shares of the software maker’s stock worth $78,939,000 after purchasing an additional 421,600 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of MicroStrategy by 1,077.0% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 343,164 shares of the software maker’s stock valued at $57,857,000 after buying an additional 314,007 shares during the last quarter. Institutional investors and hedge funds own 72.03% 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.