MicroStrategy (NASDAQ:MSTR) Shares Gap Up – Here’s Why

Shares of MicroStrategy Incorporated (NASDAQ:MSTR) gapped up prior to trading on Thursday . The stock had previously closed at $328.38, but opened at $341.77. MicroStrategy shares last traded at $332.29, with a volume of 5,514,530 shares traded.

Wall Street Analysts Forecast Growth

MSTR has been the topic of a number of recent analyst reports. BTIG Research lifted their price objective on MicroStrategy from $180.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Cantor Fitzgerald initiated coverage on MicroStrategy in a research report on Wednesday, August 21st. They issued an “overweight” rating and a $194.00 price objective on the stock. Benchmark lifted their price objective on MicroStrategy from $245.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Canaccord Genuity Group lifted their price objective on MicroStrategy from $173.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, TD Cowen lifted their price objective on MicroStrategy from $200.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $271.13.

MicroStrategy Stock Down 0.4 %

The company has a 50-day moving average of $196.14 and a two-hundred day moving average of $162.69. The company has a market capitalization of $66.26 billion, a P/E ratio of -153.63 and a beta of 3.05. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.12.

MicroStrategy (NASDAQ:MSTR) last announced its quarterly earnings data 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 company had revenue of $116.07 million for 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%. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($8.98) EPS.

Insider Buying and Selling at MicroStrategy

In other MicroStrategy news, CAO Jeanine Montgomery sold 56,250 shares of MicroStrategy stock in a transaction on Wednesday, November 6th. The stock was 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 in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Jeanine Montgomery sold 56,250 shares of the business’s stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 5,670 shares in the company, valued at $1,459,514.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Andrew Kang sold 5,700 shares of the business’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 completion of the transaction, the chief financial officer now owns 12,080 shares of the company’s stock, valued at $3,106,372. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 163,788 shares of company stock worth $29,895,333. 13.18% of the stock is owned by insiders.

Institutional Trading of MicroStrategy

Several large investors have recently modified their holdings of MSTR. Allspring Global Investments Holdings LLC bought a new stake in shares of MicroStrategy in the first quarter worth $58,000. Sei Investments Co. grew its holdings in shares of MicroStrategy by 36.3% in the first quarter. Sei Investments Co. now owns 575 shares of the software maker’s stock worth $980,000 after acquiring an additional 153 shares during the period. ProShare Advisors LLC grew its holdings in MicroStrategy by 31.2% during the first quarter. ProShare Advisors LLC now owns 3,137 shares of the software maker’s stock valued at $5,347,000 after purchasing an additional 746 shares during the period. Kingsview Wealth Management LLC grew its holdings in MicroStrategy by 6.2% during the first quarter. Kingsview Wealth Management LLC now owns 720 shares of the software maker’s stock valued at $1,227,000 after purchasing an additional 42 shares during the period. Finally, Pinnacle Wealth Planning Services Inc. bought a new stake in MicroStrategy during the first quarter valued at about $370,000. 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.