MicroStrategy (NASDAQ:MSTR) Stock Price Down 0.2% – Here’s Why

MicroStrategy Incorporated (NASDAQ:MSTR)’s share price fell 0.2% on Thursday . The stock traded as low as $425.78 and last traded at $473.00. 46,079,982 shares traded hands during trading, an increase of 160% from the average session volume of 17,733,697 shares. The stock had previously closed at $473.83.

Analyst Ratings Changes

MSTR has been the topic of several analyst reports. Cantor Fitzgerald initiated coverage on shares of MicroStrategy in a report on Wednesday, August 21st. They issued an “overweight” rating and a $194.00 price target on the stock. Canaccord Genuity Group increased their price objective on shares of MicroStrategy from $173.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, October 31st. BTIG Research upped their price objective on shares of MicroStrategy from $290.00 to $570.00 and gave the company a “buy” rating in a report on Thursday. TD Cowen boosted their price objective on shares of MicroStrategy from $200.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Maxim Group increased their target price on MicroStrategy from $193.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, MicroStrategy has an average rating of “Moderate Buy” and a consensus price target of $331.13.

MicroStrategy Stock Down 3.8 %

The stock has a market capitalization of $92.32 billion, a PE ratio of -224.49 and a beta of 3.05. The firm has a 50 day moving average of $222.94 and a two-hundred day moving average of $172.36. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.12.

MicroStrategy (NASDAQ:MSTR) last released its earnings results on Wednesday, October 30th. The software maker reported ($1.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($1.44). The firm had revenue of $116.07 million during the quarter, compared to analysts’ expectations of $121.45 million. MicroStrategy had a negative net margin of 87.05% and a negative return on equity of 17.31%. MicroStrategy’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter last year, the company posted ($8.98) earnings per share.

Insiders Place Their Bets

In other MicroStrategy news, CAO Jeanine Montgomery sold 56,250 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $257.41, for a total value of $14,479,312.50. Following the transaction, the chief accounting officer now directly owns 5,670 shares of the company’s stock, valued at $1,459,514.70. This represents a 90.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Andrew Kang sold 5,700 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now owns 12,080 shares of the company’s stock, valued at approximately $3,106,372. The trade was a 32.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 82,000 shares of company stock valued at $23,231,977 in the last quarter. 13.18% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MicroStrategy

Several hedge funds have recently modified their holdings of the stock. Sei Investments Co. grew its holdings in MicroStrategy by 36.3% in the 1st quarter. Sei Investments Co. now owns 575 shares of the software maker’s stock valued at $980,000 after buying an additional 153 shares during the last quarter. Edgestream Partners L.P. bought a new stake in shares of MicroStrategy in the first quarter valued at about $309,000. O Shaughnessy Asset Management LLC boosted its position in MicroStrategy by 23.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 720 shares of the software maker’s stock valued at $1,227,000 after purchasing an additional 136 shares during the last quarter. American International Group Inc. lifted its position in shares of MicroStrategy by 20.7% in the first quarter. American International Group Inc. now owns 7,326 shares of the software maker’s stock valued at $12,488,000 after buying an additional 1,254 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its stake in shares of MicroStrategy by 19.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 1,374 shares of the software maker’s stock worth $2,343,000 after purchasing an additional 225 shares during the period. 72.03% of the stock is owned by hedge funds and other institutional investors.

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.