Summit Securities Group LLC Has $51,000 Stake in MicroStrategy Incorporated (NASDAQ:MSTR)

Summit Securities Group LLC reduced its stake in shares of MicroStrategy Incorporated (NASDAQ:MSTR) by 40.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 177 shares of the software maker’s stock after selling 119 shares during the quarter. Summit Securities Group LLC’s holdings in MicroStrategy were worth $51,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Thrivent Financial for Lutherans grew its holdings in MicroStrategy by 1,486.5% during the third quarter. Thrivent Financial for Lutherans now owns 5,410 shares of the software maker’s stock valued at $912,000 after purchasing an additional 5,069 shares during the period. Cerity Partners LLC bought a new position in shares of MicroStrategy during the third quarter worth $1,040,000. Private Trust Co. NA grew its holdings in shares of MicroStrategy by 750.0% in the 3rd quarter. Private Trust Co. NA now owns 204 shares of the software maker’s stock valued at $34,000 after buying an additional 180 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of MicroStrategy by 204.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,279 shares of the software maker’s stock valued at $1,396,000 after buying an additional 5,560 shares in the last quarter. Finally, D.A. Davidson & CO. increased its position in shares of MicroStrategy by 932.9% in the 3rd quarter. D.A. Davidson & CO. now owns 5,185 shares of the software maker’s stock valued at $874,000 after buying an additional 4,683 shares in the last quarter. 59.84% of the stock is owned by institutional investors.

Insider Activity

In other MicroStrategy news, Director Leslie J. Rechan sold 15,000 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $335.90, for a total value of $5,038,500.00. Following the completion of the sale, the director now owns 4,970 shares in the company, valued at $1,669,423. This trade represents a 75.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Andrew Kang acquired 1,500 shares of the stock in a transaction dated Thursday, March 20th. The shares were purchased at an average price of $85.00 per share, for a total transaction of $127,500.00. Following the completion of the purchase, the chief financial officer now directly owns 1,500 shares in the company, valued at $127,500. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 8,000 shares of company stock valued at $680,000 and sold 22,998 shares valued at $7,671,926. 9.16% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on MSTR. Mizuho initiated coverage on MicroStrategy in a research note on Wednesday, January 29th. They issued an “outperform” rating and a $515.00 target price for the company. Keefe, Bruyette & Woods started coverage on MicroStrategy in a research report on Friday, February 7th. They issued an “outperform” rating and a $560.00 price objective for the company. Barclays cut their price target on shares of MicroStrategy from $515.00 to $421.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Sanford C. Bernstein reissued an “outperform” rating and set a $600.00 price objective on shares of MicroStrategy in a research report on Thursday, December 12th. Finally, Monness Crespi & Hardt assumed coverage on shares of MicroStrategy in a research report on Wednesday, March 19th. They issued a “neutral” rating on the stock. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $536.90.

MicroStrategy Trading Down 10.8 %

Shares of NASDAQ:MSTR opened at $289.41 on Monday. The company’s 50-day moving average price is $313.64 and its two-hundred day moving average price is $296.05. MicroStrategy Incorporated has a one year low of $101.00 and a one year high of $543.00. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.71 and a quick ratio of 0.65. The stock has a market capitalization of $74.48 billion, a PE ratio of -51.38 and a beta of 3.36.

MicroStrategy (NASDAQ:MSTR) last issued its quarterly earnings results on Wednesday, February 5th. The software maker reported ($3.20) EPS for the quarter, missing the consensus estimate of ($0.13) by ($3.07). MicroStrategy had a negative net margin of 251.73% and a negative return on equity of 19.01%.

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.