MicroStrategy (NASDAQ:MSTR) Shares Gap Up to $1,606.47

MicroStrategy Incorporated (NASDAQ:MSTR)’s share price gapped up prior to trading on Friday . The stock had previously closed at $1,606.47, but opened at $1,700.00. MicroStrategy shares last traded at $1,740.00, with a volume of 240,590 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Canaccord Genuity Group cut their price target on MicroStrategy from $2,047.00 to $1,826.00 and set a “buy” rating on the stock in a report on Monday, June 24th. Maxim Group raised shares of MicroStrategy to a “strong-buy” rating in a research report on Thursday, June 27th. BTIG Research upped their price objective on shares of MicroStrategy from $780.00 to $1,800.00 and gave the stock a “buy” rating in a report on Friday, April 5th. TD Cowen raised their price objective on shares of MicroStrategy from $1,450.00 to $1,880.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Finally, Sanford C. Bernstein raised MicroStrategy to a “strong-buy” rating in a research report on Friday, June 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, MicroStrategy currently has an average rating of “Buy” and a consensus target price of $2,017.67.

MicroStrategy Trading Up 9.5 %

The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.48. The firm has a market cap of $31.20 billion, a P/E ratio of -260.48 and a beta of 3.11. The firm’s 50-day simple moving average is $1,533.78 and its 200 day simple moving average is $1,236.52.

MicroStrategy shares are scheduled 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 payable to shareholders after the closing bell on Thursday, August 8th.

MicroStrategy (NASDAQ:MSTR) last posted its quarterly earnings data on Monday, April 29th. The software maker reported ($8.26) EPS for the quarter. MicroStrategy had a negative net margin of 17.40% and a negative return on equity of 8.37%. The firm had revenue of $115.25 million during the quarter, compared to analysts’ expectations of $124.80 million.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in MicroStrategy by 34.8% during the first quarter. Vanguard Group Inc. now owns 1,553,048 shares of the software maker’s stock valued at $2,647,263,000 after purchasing an additional 401,071 shares during the last quarter. Capital International Investors raised its position in shares of MicroStrategy by 14.9% in the first quarter. Capital International Investors now owns 1,791,564 shares of the software maker’s stock valued at $3,053,828,000 after purchasing an additional 232,667 shares during the period. Norges Bank purchased a new stake in shares of MicroStrategy during the 4th quarter valued at approximately $70,990,000. Westfield Capital Management Co. LP bought a new position in MicroStrategy in the 1st quarter worth approximately $60,892,000. Finally, APEIRON CAPITAL Ltd purchased a new position in MicroStrategy in the 1st quarter valued at approximately $53,864,000. Institutional investors own 72.03% of the company’s stock.

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.