MicroStrategy Stock to Split on Thursday, August 8th (NASDAQ:MSTR)

MicroStrategy Incorporated (NASDAQ:MSTR)’s stock is going to split before the market opens on Thursday, August 8th. The 10-1 split was announced on Thursday, August 8th. The newly minted shares will be issued to shareholders after the closing bell on Thursday, August 8th.

MicroStrategy Stock Down 4.2 %

Shares of MSTR opened at $1,447.99 on Friday. The stock has a market capitalization of $25.69 billion, a price-to-earnings ratio of -216.12 and a beta of 3.11. MicroStrategy has a 1 year low of $307.11 and a 1 year high of $1,999.99. The business’s 50 day simple moving average is $1,529.24 and its 200-day simple moving average is $1,286.33. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.78 and a quick ratio of 0.78.

Analyst Ratings Changes

Several analysts recently weighed in on MSTR shares. Sanford C. Bernstein upgraded MicroStrategy to a “strong-buy” rating in a report on Friday, June 14th. TD Cowen increased their price target on MicroStrategy from $1,450.00 to $1,880.00 and gave the company a “buy” rating in a report on Friday, June 21st. Benchmark upped their price objective on MicroStrategy from $1,875.00 to $2,150.00 and gave the company a “buy” rating in a research report on Friday. Canaccord Genuity Group cut their price objective on MicroStrategy from $2,047.00 to $1,826.00 and set a “buy” rating on the stock in a research report on Monday, June 24th. Finally, Maxim Group upped their price objective on MicroStrategy from $1,835.00 to $1,930.00 and gave the company a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $2,079.33.

Hedge Funds Weigh In On MicroStrategy

Institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new position in shares of MicroStrategy during the fourth quarter valued at $70,990,000. Beacon Pointe Advisors LLC purchased a new position in MicroStrategy in the fourth quarter valued at about $379,000. New York State Common Retirement Fund grew its stake in MicroStrategy by 7.7% in the fourth quarter. New York State Common Retirement Fund now owns 5,121 shares of the software maker’s stock valued at $3,235,000 after purchasing an additional 366 shares during the last quarter. CIBC Private Wealth Group LLC grew its stake in MicroStrategy by 23.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,636 shares of the software maker’s stock valued at $1,665,000 after purchasing an additional 500 shares during the last quarter. Finally, Chesapeake Capital Corp IL purchased a new position in MicroStrategy in the fourth quarter valued at about $651,000. Hedge funds and other institutional investors 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.