Hartline Investment Corp Raises Position in MicroStrategy Incorporated (NASDAQ:MSTR)

Hartline Investment Corp increased its stake in MicroStrategy Incorporated (NASDAQ:MSTR) by 1,064.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,322 shares of the software maker’s stock after buying an additional 4,865 shares during the quarter. Hartline Investment Corp’s holdings in MicroStrategy were worth $897,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of MSTR. Souders Financial Advisors purchased a new stake in MicroStrategy during the 3rd quarter worth $844,000. Empower Advisory Group LLC acquired a new stake in shares of MicroStrategy during the third quarter valued at about $231,000. Victory Capital Management Inc. increased its position in shares of MicroStrategy by 894.7% during the third quarter. Victory Capital Management Inc. now owns 57,830 shares of the software maker’s stock worth $9,750,000 after acquiring an additional 52,016 shares during the last quarter. Aptus Capital Advisors LLC increased its position in shares of MicroStrategy by 2,817.3% during the third quarter. Aptus Capital Advisors LLC now owns 5,747 shares of the software maker’s stock worth $969,000 after acquiring an additional 5,550 shares during the last quarter. Finally, Verus Capital Partners LLC lifted its stake in shares of MicroStrategy by 1,081.4% in the third quarter. Verus Capital Partners LLC now owns 4,761 shares of the software maker’s stock worth $803,000 after acquiring an additional 4,358 shares in the last quarter. 72.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Jeanine Montgomery sold 56,250 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $257.41, for a total transaction of $14,479,312.50. Following the completion of the transaction, the chief accounting officer now owns 5,670 shares of the company’s stock, valued at approximately $1,459,514.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Andrew Kang sold 5,700 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 12,080 shares of the company’s stock, valued at $3,106,372. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Jeanine Montgomery sold 56,250 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 5,670 shares in the company, valued at approximately $1,459,514.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 163,788 shares of company stock worth $29,895,333 in the last three months. 13.18% of the stock is owned by insiders.

MicroStrategy Price Performance

Shares of NASDAQ:MSTR opened at $356.59 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.12. The firm has a 50-day simple moving average of $192.07 and a 200 day simple moving average of $161.52. MicroStrategy Incorporated has a fifty-two week low of $43.87 and a fifty-two week high of $360.89. The company has a market cap of $72.26 billion, a PE ratio of -169.00 and a beta of 3.05.

MicroStrategy (NASDAQ:MSTR) last posted its earnings results on Wednesday, October 30th. The software maker reported ($1.56) EPS for the quarter, missing the consensus estimate of ($0.12) by ($1.44). The company had revenue of $116.07 million for the quarter, compared to the consensus estimate of $121.45 million. MicroStrategy had a negative net margin of 87.05% and a negative return on equity of 17.31%. The firm’s revenue for the quarter 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.

Analysts Set New Price Targets

A number of brokerages have weighed in on MSTR. Maxim Group raised their price objective on MicroStrategy from $193.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Sanford C. Bernstein decreased their price target on shares of MicroStrategy from $2,890.00 to $290.00 and set an “outperform” rating for the company in a research report on Wednesday, October 9th. TD Cowen lifted their price target on shares of MicroStrategy from $200.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Benchmark upped their price target on shares of MicroStrategy from $245.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Barclays raised their price objective on shares of MicroStrategy from $225.00 to $275.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, MicroStrategy currently has an average rating of “Moderate Buy” and a consensus price target of $271.13.

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.