MicroStrategy (NASDAQ:MSTR) Shares Down 2.8% – Here’s What Happened

Shares of MicroStrategy Incorporated (NASDAQ:MSTR) were down 2.8% on Thursday . The stock traded as low as $317.22 and last traded at $331.70. Approximately 18,198,355 shares were traded during mid-day trading, a decline of 19% from the average daily volume of 22,519,609 shares. The stock had previously closed at $341.42.

Analyst Ratings Changes

MSTR has been the topic of several research reports. Canaccord Genuity Group boosted their price target on shares of MicroStrategy from $300.00 to $510.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. TD Cowen raised their price target on MicroStrategy from $392.00 to $525.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Sanford C. Bernstein reissued an “outperform” rating and issued a $600.00 price target on shares of MicroStrategy in a research report on Thursday, December 12th. Maxim Group raised their price target on shares of MicroStrategy from $193.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, BTIG Research raised their price target on shares of MicroStrategy from $290.00 to $570.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, MicroStrategy has a consensus rating of “Moderate Buy” and a consensus target price of $479.25.

MicroStrategy Stock Performance

The company has a market capitalization of $78.58 billion, a price-to-earnings ratio of -155.63 and a beta of 3.25. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.12. The stock has a 50 day moving average of $351.01 and a 200 day moving average of $225.30.

MicroStrategy (NASDAQ:MSTR) last issued its earnings results 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 the consensus estimate of $121.45 million. MicroStrategy had a negative net margin of 87.05% and a negative return on equity of 17.31%. The business’s quarterly revenue was down 10.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($8.98) earnings per share.

Insider Transactions at MicroStrategy

In related news, CAO Jeanine Montgomery sold 752 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $322.45, for a total transaction of $242,482.40. Following the transaction, the chief accounting officer now owns 6,418 shares of the company’s stock, valued at approximately $2,069,484.10. This trade represents a 10.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen X. Graham sold 20,000 shares of the business’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 completion of the sale, the director now directly owns 6,970 shares of the company’s stock, valued at $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. Insiders have sold 102,000 shares of company stock worth $32,259,177 in the last ninety days. Company insiders own 13.18% of the company’s stock.

Institutional Investors Weigh In On MicroStrategy

A number of hedge funds and other institutional investors have recently modified their holdings of MSTR. National Bank of Canada FI raised its stake in shares of MicroStrategy by 746.2% during the third quarter. National Bank of Canada FI now owns 20,647 shares of the software maker’s stock valued at $3,481,000 after acquiring an additional 18,207 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in MicroStrategy in the third quarter worth about $254,000. Wellington Management Group LLP lifted its holdings in shares of MicroStrategy by 979.8% during the third quarter. Wellington Management Group LLP now owns 6,727 shares of the software maker’s stock valued at $1,134,000 after purchasing an additional 6,104 shares in the last quarter. US Bancorp DE grew its position in MicroStrategy by 782.8% in the 3rd quarter. US Bancorp DE now owns 4,255 shares of the software maker’s stock worth $717,000 after purchasing an additional 3,773 shares during the period. Finally, Virtu Financial LLC lifted its holdings in MicroStrategy by 10,398.4% in the third quarter. Virtu Financial LLC now owns 224,245 shares of the software maker’s stock valued at $37,808,000 after acquiring an additional 222,109 shares during the period. Institutional investors own 59.84% 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.