Benchmark Increases MicroStrategy (NASDAQ:MSTR) Price Target to $650.00

MicroStrategy (NASDAQ:MSTR) had its price target raised by Benchmark from $450.00 to $650.00 in a research report released on Monday,Benzinga reports. They currently have a buy rating on the software maker’s stock.

MSTR has been the subject of a number of other reports. Sanford C. Bernstein increased their target price on shares of MicroStrategy from $290.00 to $600.00 and gave the company an “outperform” rating in a report on Monday. Maxim Group lifted their price objective on MicroStrategy from $193.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Barclays boosted their target price on MicroStrategy from $275.00 to $515.00 and gave the stock an “overweight” rating in a research report on Monday. Canaccord Genuity Group lifted their price target on MicroStrategy from $300.00 to $510.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Cantor Fitzgerald initiated coverage on shares of MicroStrategy in a research note on Wednesday, August 21st. They issued an “overweight” rating and a $194.00 price objective on the stock. One investment 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $479.25.

MicroStrategy Stock Performance

Shares of MSTR stock opened at $388.84 on Monday. 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 has a 12-month low of $43.87 and a 12-month high of $543.00. The company has a market cap of $78.79 billion, a price-to-earnings ratio of -184.55 and a beta of 3.05. The stock has a 50 day simple moving average of $243.51 and a 200-day simple moving average of $180.24.

MicroStrategy (NASDAQ:MSTR) last released 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). MicroStrategy had a negative net margin of 87.05% and a negative return on equity of 17.31%. The business had revenue of $116.07 million during the quarter, compared to analyst estimates of $121.45 million. During the same period last year, the business posted ($8.98) EPS. MicroStrategy’s revenue was down 10.3% compared to the same quarter last year.

Insider Activity

In other MicroStrategy news, CAO Jeanine Montgomery sold 56,250 shares of MicroStrategy stock in a transaction dated 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 sale, the chief accounting officer now owns 5,670 shares in the company, valued at $1,459,514.70. The trade was a 90.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Wei-Ming Shao sold 18,000 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $368.01, for a total transaction of $6,624,180.00. Following the transaction, the executive vice president now owns 6,460 shares in the company, valued at approximately $2,377,344.60. The trade was a 73.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 102,000 shares of company stock valued at $32,259,177 over the last 90 days. Insiders own 13.18% of the company’s stock.

Hedge Funds Weigh In On MicroStrategy

Several institutional investors and hedge funds have recently bought and sold shares of MSTR. Franklin Resources Inc. grew its stake in shares of MicroStrategy by 3.3% during the 3rd quarter. Franklin Resources Inc. now owns 4,248 shares of the software maker’s stock valued at $716,000 after buying an additional 135 shares during the period. Peapack Gladstone Financial Corp increased its stake in MicroStrategy by 900.0% during the third quarter. Peapack Gladstone Financial Corp now owns 2,350 shares of the software maker’s stock worth $396,000 after acquiring an additional 2,115 shares during the last quarter. Sanctuary Advisors LLC raised its holdings in shares of MicroStrategy by 3,250.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 14,442 shares of the software maker’s stock worth $2,435,000 after purchasing an additional 14,011 shares during the period. Virtu Financial LLC lifted its stake in shares of MicroStrategy by 10,398.4% in the 3rd quarter. Virtu Financial LLC now owns 224,245 shares of the software maker’s stock valued at $37,808,000 after purchasing an additional 222,109 shares in the last quarter. Finally, Arete Wealth Advisors LLC grew its holdings in shares of MicroStrategy by 1,063.6% during the 3rd quarter. Arete Wealth Advisors LLC now owns 10,740 shares of the software maker’s stock worth $1,814,000 after purchasing an additional 9,817 shares during the period. Institutional investors and hedge funds 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.