MicroStrategy (NASDAQ:MSTR) Trading 3.5% Higher – Time to Buy?

Shares of MicroStrategy Incorporated (NASDAQ:MSTR) rose 3.5% during mid-day trading on Thursday . The stock traded as high as $310.80 and last traded at $299.75. Approximately 7,769,340 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 19,012,463 shares. The stock had previously closed at $289.62.

Analysts Set New Price Targets

MSTR has been the topic of several analyst reports. TD Cowen increased their target price on MicroStrategy from $392.00 to $525.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Benchmark increased their price target on shares of MicroStrategy from $450.00 to $650.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Sanford C. Bernstein reissued an “outperform” rating and issued a $600.00 price objective on shares of MicroStrategy in a research note on Thursday, December 12th. Canaccord Genuity Group upped their target price on MicroStrategy from $300.00 to $510.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, Maxim Group lifted their price target on MicroStrategy from $193.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $479.25.

MicroStrategy Stock Performance

The company has a fifty day moving average of $340.05 and a two-hundred day moving average of $217.90. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market cap of $71.62 billion, a price-to-earnings ratio of -141.84 and a beta of 3.17.

MicroStrategy (NASDAQ:MSTR) last released its quarterly earnings results on Wednesday, October 30th. The software maker reported ($1.56) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($1.44). The firm had revenue of $116.07 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter last year, the firm posted ($8.98) earnings per share.

Insider Buying and Selling at MicroStrategy

In other MicroStrategy news, CFO Andrew Kang sold 5,700 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $257.15, for a total transaction of $1,465,755.00. Following the completion of the transaction, the chief financial officer now owns 12,080 shares in the company, valued at approximately $3,106,372. This trade represents a 32.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jeanine Montgomery sold 56,250 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $257.41, for a total transaction of $14,479,312.50. Following the completion of the sale, the chief accounting officer now directly owns 5,670 shares in the company, valued at approximately $1,459,514.70. This represents a 90.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 102,000 shares of company stock worth $32,259,177. 13.18% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MicroStrategy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. raised its position in shares of MicroStrategy by 781.4% in the 3rd quarter. Principal Financial Group Inc. now owns 46,483 shares of the software maker’s stock worth $7,837,000 after acquiring an additional 41,209 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in MicroStrategy in the third quarter worth approximately $254,000. Beaird Harris Wealth Management LLC lifted its stake in MicroStrategy by 1,105.2% in the third quarter. Beaird Harris Wealth Management LLC now owns 4,640 shares of the software maker’s stock valued at $782,000 after buying an additional 4,255 shares during the period. Franklin Resources Inc. boosted its holdings 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 worth $716,000 after buying an additional 135 shares in the last quarter. Finally, Peapack Gladstone Financial Corp increased its stake in shares of MicroStrategy by 900.0% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 2,350 shares of the software maker’s stock valued at $396,000 after acquiring an additional 2,115 shares in the last quarter. Institutional investors and hedge funds own 59.84% 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.