MicroStrategy (NASDAQ:MSTR) Shares Down 4% – Here’s What Happened

Shares of MicroStrategy Incorporated (NASDAQ:MSTR) fell 4% during mid-day trading on Wednesday . The company traded as low as $376.85 and last traded at $373.64. 5,544,902 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 19,481,021 shares. The stock had previously closed at $389.10.

Analysts Set New Price Targets

MSTR has been the topic of a number of analyst reports. Maxim Group increased their target price on MicroStrategy from $193.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Canaccord Genuity Group increased their price target on MicroStrategy from $300.00 to $510.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. TD Cowen lifted their price objective on MicroStrategy from $392.00 to $525.00 and gave the company a “buy” rating in a research report on Monday, November 25th. BTIG Research upped their target price on MicroStrategy from $290.00 to $570.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, Barclays raised their target price on shares of MicroStrategy from $275.00 to $515.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. Based on data from MarketBeat, MicroStrategy has a consensus rating of “Moderate Buy” and an average price target of $479.25.

MicroStrategy Trading Down 5.2 %

The firm has a market capitalization of $84.76 billion, a PE ratio of -167.85 and a beta of 3.25. The firm has a fifty day moving average of $367.53 and a 200 day moving average of $241.12. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.65 and a current ratio of 0.65.

MicroStrategy (NASDAQ:MSTR) last issued its quarterly earnings data on Wednesday, October 30th. The software maker reported ($1.56) 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 analyst estimates of $121.45 million. MicroStrategy had a negative return on equity of 17.31% and a negative net margin of 87.05%. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($8.98) EPS.

Insider Activity at MicroStrategy

In related news, CFO Andrew Kang sold 5,700 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $257.15, for a total value of $1,465,755.00. Following the sale, the chief financial officer now directly owns 12,080 shares of the company’s stock, valued at $3,106,372. This represents a 32.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Stephen X. Graham sold 20,000 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $451.36, for a total transaction of $9,027,200.00. Following the transaction, the director now directly owns 6,970 shares of the company’s stock, valued at approximately $3,145,979.20. This represents a 74.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 102,000 shares of company stock valued at $32,259,177. Insiders own 9.16% of the company’s stock.

Institutional Trading of MicroStrategy

Hedge funds and other institutional investors have recently bought and sold shares of the company. American Century Companies Inc. lifted its holdings in MicroStrategy by 20.8% during the 2nd quarter. American Century Companies Inc. now owns 2,098 shares of the software maker’s stock worth $2,890,000 after buying an additional 361 shares during the last quarter. Amalgamated Bank lifted its stake in MicroStrategy by 72.3% during the second quarter. Amalgamated Bank now owns 870 shares of the software maker’s stock worth $1,198,000 after purchasing an additional 365 shares during the last quarter. Intech Investment Management LLC bought a new stake in MicroStrategy during the second quarter valued at $804,000. AE Wealth Management LLC bought a new stake in MicroStrategy during the second quarter valued at $603,000. Finally, Sei Investments Co. raised its holdings in shares of MicroStrategy by 16.9% during the second quarter. Sei Investments Co. now owns 672 shares of the software maker’s stock worth $926,000 after purchasing an additional 97 shares during the period. 59.84% of the stock is owned by 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.