Quest Partners LLC Buys New Shares in MicroStrategy Incorporated (NASDAQ:MSTR)

Quest Partners LLC bought a new stake in MicroStrategy Incorporated (NASDAQ:MSTR) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,232 shares of the software maker’s stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Signaturefd LLC boosted its holdings in MicroStrategy by 13.6% in the second quarter. Signaturefd LLC now owns 50 shares of the software maker’s stock valued at $69,000 after purchasing an additional 6 shares during the period. GAMMA Investing LLC boosted its holdings in MicroStrategy by 36.4% in the second quarter. GAMMA Investing LLC now owns 30 shares of the software maker’s stock valued at $41,000 after purchasing an additional 8 shares during the period. Cigna Investments Inc. New raised its stake in MicroStrategy by 5.1% in the second quarter. Cigna Investments Inc. New now owns 164 shares of the software maker’s stock valued at $226,000 after buying an additional 8 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in MicroStrategy by 2.8% in the second 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 in the last quarter. Finally, Dakota Wealth Management raised its stake in MicroStrategy by 0.3% in the second quarter. Dakota Wealth Management now owns 4,515 shares of the software maker’s stock valued at $6,219,000 after buying an additional 15 shares in the last quarter. 72.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Stephen X. Graham sold 20,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 6,970 shares of the company’s stock, valued at $3,145,979.20. This trade represents a 74.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Wei-Ming Shao sold 18,000 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $368.01, for a total value of $6,624,180.00. Following the transaction, the executive vice president now directly owns 6,460 shares in the company, valued at approximately $2,377,344.60. This represents a 73.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 102,000 shares of company stock valued at $32,259,177 over the last quarter. 13.18% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on MSTR shares. Maxim Group raised 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. BTIG Research raised their price target on MicroStrategy from $290.00 to $570.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. TD Cowen raised their price target on MicroStrategy from $392.00 to $525.00 and gave the company a “buy” rating in a research note on Monday. Cantor Fitzgerald started coverage on MicroStrategy in a research note on Wednesday, August 21st. They issued an “overweight” rating and a $194.00 price target on the stock. Finally, Barclays raised their price target on MicroStrategy from $275.00 to $515.00 and gave the company an “overweight” rating in a research note on Monday. 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.com, the company has a consensus rating of “Moderate Buy” and an average price target of $479.25.

MicroStrategy Stock Up 9.9 %

MSTR opened at $388.84 on Thursday. The business’s 50-day simple moving average is $243.51 and its 200-day simple moving average is $180.24. 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 Incorporated has a one year low of $43.87 and a one year high of $543.00. The stock has a market capitalization of $78.79 billion, a P/E ratio of -183.44 and a beta of 3.05.

MicroStrategy (NASDAQ:MSTR) last released its quarterly earnings results on Wednesday, October 30th. The software maker reported ($1.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($1.44). MicroStrategy had a negative return on equity of 17.31% and a negative net margin of 87.05%. The company had revenue of $116.07 million for the quarter, compared to analysts’ expectations of $121.45 million. During the same period in the prior year, the business earned ($8.98) EPS. The business’s quarterly revenue was down 10.3% compared to the same quarter last year.

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.