MicroStrategy (NASDAQ:MSTR) Shares Down 11.4% on Analyst Downgrade

MicroStrategy Incorporated (NASDAQ:MSTR) traded down 11.4% during mid-day trading on Tuesday after Canaccord Genuity Group lowered their price target on the stock from $1,810.00 to $1,590.00. Canaccord Genuity Group currently has a buy rating on the stock. MicroStrategy traded as low as $1,145.88 and last traded at $1,146.01. 516,590 shares were traded during mid-day trading, a decline of 75% from the average session volume of 2,105,026 shares. The stock had previously closed at $1,292.97.

Several other analysts have also issued reports on the stock. BTIG Research boosted their price target on shares of MicroStrategy from $780.00 to $1,800.00 and gave the company a “buy” rating in a research report on Friday, April 5th. StockNews.com raised shares of MicroStrategy to a “sell” rating in a research report on Monday, March 18th. Benchmark reiterated a “buy” rating and issued a $1,875.00 target price on shares of MicroStrategy in a research note on Thursday, April 25th. Finally, TD Cowen lowered their target price on shares of MicroStrategy from $1,560.00 to $1,450.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 20th. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat, MicroStrategy presently has an average rating of “Moderate Buy” and an average target price of $1,678.75.

Insiders Place Their Bets

In other MicroStrategy news, Chairman Michael J. Saylor sold 5,000 shares of the stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $1,295.80, for a total value of $6,479,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Chairman Michael J. Saylor sold 5,000 shares of the firm’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $1,295.80, for a total transaction of $6,479,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jarrod M. Patten sold 400 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $638.39, for a total transaction of $255,356.00. The disclosure for this sale can be found here. Insiders have sold 107,452 shares of company stock worth $117,637,097 in the last three months. 13.18% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MicroStrategy

A number of large investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC raised its position in MicroStrategy by 16.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 3,219 shares of the software maker’s stock worth $5,487,000 after purchasing an additional 464 shares during the period. BNP Paribas Financial Markets raised its position in MicroStrategy by 30.5% in the 1st quarter. BNP Paribas Financial Markets now owns 14,274 shares of the software maker’s stock worth $24,331,000 after purchasing an additional 3,333 shares during the period. Shariaportfolio Inc. raised its position in MicroStrategy by 543.5% in the 1st quarter. Shariaportfolio Inc. now owns 7,613 shares of the software maker’s stock worth $12,977,000 after purchasing an additional 6,430 shares during the period. Sequoia Financial Advisors LLC purchased a new position in MicroStrategy in the 1st quarter worth $377,000. Finally, Arkadios Wealth Advisors purchased a new position in MicroStrategy in the 1st quarter worth $327,000. Hedge funds and other institutional investors own 72.03% of the company’s stock.

MicroStrategy Stock Performance

The company has a market cap of $17.45 billion, a PE ratio of -151.53 and a beta of 2.89. The business’s 50-day moving average is $1,370.28 and its 200 day moving average is $825.64. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.83 and a current ratio of 0.83.

MicroStrategy (NASDAQ:MSTR) last announced its quarterly earnings results on Tuesday, February 6th. The software maker reported $5.62 earnings per share (EPS) for the quarter. The business had revenue of $124.48 million for the quarter, compared to analyst estimates of $134.90 million. MicroStrategy had a negative net margin of 17.40% and a negative return on equity of 10.22%.

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.