MicroStrategy (NASDAQ:MSTR) Stock Price Up 4.4% Following Analyst Upgrade

Shares of MicroStrategy Incorporated (NASDAQ:MSTR) were up 4.4% during mid-day trading on Friday after BTIG Research raised their price target on the stock from $290.00 to $570.00. BTIG Research currently has a buy rating on the stock. MicroStrategy traded as high as $421.88 and last traded at $414.84. Approximately 16,075,688 shares were traded during mid-day trading, a decline of 11% from the average daily volume of 17,983,910 shares. The stock had previously closed at $397.28.

A number of other research analysts also recently issued reports on the company. Benchmark boosted their price target on MicroStrategy from $300.00 to $450.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. TD Cowen boosted their target price on shares of MicroStrategy from $200.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Sanford C. Bernstein dropped their price target on shares of MicroStrategy from $2,890.00 to $290.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 9th. Cantor Fitzgerald initiated coverage on shares of MicroStrategy in a research report on Wednesday, August 21st. They issued an “overweight” rating and a $194.00 price objective for the company. Finally, Barclays raised their target price on MicroStrategy from $225.00 to $275.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $331.13.

Insider Activity

In other news, CAO Jeanine Montgomery sold 56,250 shares of the firm’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 owns 5,670 shares in the company, valued at $1,459,514.70. This trade represents a 90.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Andrew Kang sold 5,700 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 12,080 shares of the company’s stock, valued at $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 worth $23,231,977 over the last 90 days. 13.18% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MicroStrategy

Hedge funds have recently modified their holdings of the business. Signaturefd LLC grew its stake in MicroStrategy by 13.6% during the 2nd quarter. Signaturefd LLC now owns 50 shares of the software maker’s stock valued at $69,000 after acquiring an additional 6 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of MicroStrategy by 36.4% during the 2nd quarter. GAMMA Investing LLC now owns 30 shares of the software maker’s stock valued at $41,000 after acquiring an additional 8 shares during the last quarter. Cigna Investments Inc. New boosted its holdings in MicroStrategy by 5.1% in the 2nd quarter. Cigna Investments Inc. New now owns 164 shares of the software maker’s stock valued at $226,000 after purchasing an additional 8 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of MicroStrategy by 2.8% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 400 shares of the software maker’s stock valued at $551,000 after buying an additional 11 shares during the period. Finally, Dakota Wealth Management increased its holdings in shares of MicroStrategy by 0.3% during the 2nd quarter. Dakota Wealth Management now owns 4,515 shares of the software maker’s stock worth $6,219,000 after buying an additional 15 shares during the last quarter. 72.03% of the stock is currently owned by institutional investors and hedge funds.

MicroStrategy Trading Up 6.2 %

The stock has a market cap of $85.49 billion, a PE ratio of -200.23 and a beta of 3.05. The company’s 50-day moving average price is $233.68 and its 200 day moving average price is $176.26. 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 posted 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 business 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($8.98) EPS.

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.