SteelPeak Wealth LLC Invests $280,000 in MicroStrategy Incorporated (NASDAQ:MSTR)

SteelPeak Wealth LLC acquired a new stake in shares of MicroStrategy Incorporated (NASDAQ:MSTR) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 967 shares of the software maker’s stock, valued at approximately $280,000.

A number of other hedge funds have also recently made changes to their positions in the business. Sei Investments Co. raised its position in MicroStrategy by 16.9% during the 2nd quarter. Sei Investments Co. now owns 672 shares of the software maker’s stock valued at $926,000 after purchasing an additional 97 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of MicroStrategy by 141.8% during the second quarter. Thrivent Financial for Lutherans now owns 341 shares of the software maker’s stock valued at $470,000 after acquiring an additional 200 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of MicroStrategy by 59.4% during the second quarter. AQR Capital Management LLC now owns 4,500 shares of the software maker’s stock valued at $6,199,000 after purchasing an additional 1,677 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in shares of MicroStrategy by 88.6% during the 2nd quarter. Mackenzie Financial Corp now owns 1,705 shares of the software maker’s stock valued at $2,349,000 after acquiring an additional 801 shares during the last quarter. Finally, NewEdge Advisors LLC grew its position in MicroStrategy by 51.8% in the 2nd quarter. NewEdge Advisors LLC now owns 1,740 shares of the software maker’s stock worth $2,397,000 after purchasing an additional 594 shares during the period. 59.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other MicroStrategy news, CFO Andrew Kang sold 5,700 shares of MicroStrategy stock in a transaction dated 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 transaction, the chief financial officer now owns 12,080 shares in the company, 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 SEC, which is accessible through this link. Also, CAO Jeanine Montgomery sold 56,250 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $257.41, for a total value of $14,479,312.50. Following the sale, the chief accounting officer now directly owns 5,670 shares in the company, valued at approximately $1,459,514.70. This trade represents a 90.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 102,000 shares of company stock valued at $32,259,177 over the last 90 days. Insiders own 9.16% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. TD Cowen upped their target price on shares of MicroStrategy from $392.00 to $525.00 and gave the company a “buy” rating in a report on Monday, November 25th. Mizuho began coverage on shares of MicroStrategy in a report on Wednesday. They set an “outperform” rating and a $515.00 price objective for the company. 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. BTIG Research boosted their price objective on shares of MicroStrategy from $290.00 to $570.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, Canaccord Genuity Group upped their price objective on shares of MicroStrategy from $300.00 to $510.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $483.22.

MicroStrategy Stock Down 0.3 %

MicroStrategy stock opened at $340.09 on Friday. MicroStrategy Incorporated has a fifty-two week low of $46.75 and a fifty-two week high of $543.00. The company has a market cap of $81.50 billion, a PE ratio of -161.41 and a beta of 3.25. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.65 and a current ratio of 0.65. The business’s 50-day simple moving average is $361.56 and its two-hundred day simple moving average is $248.44.

MicroStrategy (NASDAQ:MSTR) last issued its quarterly earnings results on Wednesday, October 30th. The software maker reported ($1.56) earnings per share 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 business had revenue of $116.07 million during the quarter, compared to analyst estimates of $121.45 million. During the same quarter last year, the company posted ($8.98) EPS. MicroStrategy’s quarterly revenue was down 10.3% compared to the same quarter last year.

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.