Longitude Cayman Ltd. Sells 17,700 Shares of MicroStrategy Incorporated (NASDAQ:MSTR)

Longitude Cayman Ltd. lessened its holdings in shares of MicroStrategy Incorporated (NASDAQ:MSTR) by 85.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,000 shares of the software maker’s stock after selling 17,700 shares during the quarter. MicroStrategy makes up 0.2% of Longitude Cayman Ltd.’s portfolio, making the stock its 28th biggest position. Longitude Cayman Ltd.’s holdings in MicroStrategy were worth $869,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Private Wealth Management Group LLC grew its stake in MicroStrategy by 208.8% in the fourth quarter. Private Wealth Management Group LLC now owns 105 shares of the software maker’s stock worth $30,000 after purchasing an additional 71 shares during the period. Activest Wealth Management purchased a new stake in MicroStrategy in the fourth quarter worth $33,000. SOA Wealth Advisors LLC. purchased a new stake in MicroStrategy in the fourth quarter worth $37,000. Versant Capital Management Inc grew its stake in MicroStrategy by 38.2% in the fourth quarter. Versant Capital Management Inc now owns 141 shares of the software maker’s stock worth $41,000 after purchasing an additional 39 shares during the period. Finally, UMB Bank n.a. grew its stake in shares of MicroStrategy by 900.0% in the third quarter. UMB Bank n.a. now owns 150 shares of the software maker’s stock worth $25,000 after acquiring an additional 135 shares during the last quarter. Institutional investors own 59.84% of the company’s stock.

MicroStrategy Stock Performance

Shares of MicroStrategy stock opened at $334.62 on Tuesday. MicroStrategy Incorporated has a one year low of $65.02 and a one year high of $543.00. The company has a current ratio of 0.71, a quick ratio of 0.65 and a debt-to-equity ratio of 0.39. The business’s 50 day moving average price is $354.16 and its 200 day moving average price is $257.96.

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

Insider Activity

In related news, Director Stephen X. Graham sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $451.36, for a total value of $9,027,200.00. Following the sale, the director now owns 6,970 shares of the company’s stock, valued at approximately $3,145,979.20. This represents a 74.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Jeanine Montgomery sold 752 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $322.45, for a total value of $242,482.40. Following the completion of the sale, the chief accounting officer now directly owns 6,418 shares in the company, valued at approximately $2,069,484.10. The trade was a 10.49 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 40,050 shares of company stock valued at $16,314,110. Insiders own 9.16% of the company’s stock.

Analysts Set New Price Targets

MSTR has been the topic of a number of recent research reports. Mizuho initiated coverage on MicroStrategy in a research note on Wednesday, January 29th. They issued an “outperform” rating and a $515.00 target price on the stock. Benchmark reaffirmed a “buy” rating and set a $650.00 price objective on shares of MicroStrategy in a research report on Tuesday, January 14th. BTIG Research increased their price objective on MicroStrategy from $290.00 to $570.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Canaccord Genuity Group lowered their target price on MicroStrategy from $510.00 to $409.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $600.00 price objective on shares of MicroStrategy in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $536.90.

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.