TB Alternative Assets Ltd. Makes New Investment in Strategy Inc $MSTR

TB Alternative Assets Ltd. purchased a new stake in Strategy Inc (NASDAQ:MSTR) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 126,000 shares of the software maker’s stock, valued at approximately $40,598,000. Strategy makes up approximately 6.1% of TB Alternative Assets Ltd.’s investment portfolio, making the stock its 5th largest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in MSTR. State Street Corp increased its stake in shares of Strategy by 9.9% during the second quarter. State Street Corp now owns 5,484,569 shares of the software maker’s stock worth $2,217,027,000 after buying an additional 495,278 shares during the period. Norges Bank acquired a new position in Strategy during the 2nd quarter worth approximately $1,203,062,000. Amundi increased its position in shares of Strategy by 378.9% in the 2nd quarter. Amundi now owns 1,783,982 shares of the software maker’s stock valued at $717,660,000 after purchasing an additional 1,411,500 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Strategy by 14.0% in the 2nd quarter. Invesco Ltd. now owns 1,398,098 shares of the software maker’s stock valued at $565,153,000 after purchasing an additional 171,940 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Strategy by 19.1% during the 2nd quarter. Legal & General Group Plc now owns 1,168,437 shares of the software maker’s stock worth $472,317,000 after purchasing an additional 187,291 shares during the last quarter. 59.84% of the stock is owned by institutional investors and hedge funds.

Strategy News Summary

Here are the key news stories impacting Strategy this week:

• Positive Sentiment: CEO bullish on 2026 — Strategy’s CEO says he’s “excited for 2026” despite the Bitcoin downturn, reiterating long?term conviction in the company’s strategy and use of Bitcoin as a corporate asset; that message can support sentiment if management outlines concrete catalysts or buyback/treasury plans. Strategy (MSTR) CEO Says He’s Excited for 2026 Despite Bitcoin Market Downturn – Here’s Why
• Positive Sentiment: Ongoing institutional crypto interest — a $250M close by HashKey Capital and broader fundraising in the crypto space signal continued institutional capital flowing into crypto strategies, a background tailwind for MSTR’s Bitcoin?linked thesis. Hashkey Capital Closes $250?Million Fund?IV to Boost Global Blockchain
• Neutral Sentiment: Market commentary and outlook pieces add noise — several analyst/market?strategy articles discuss MSTR’s risk/reward and whether the stock faces another crash or recovery; these are largely speculative but increase volatility as traders parse scenarios. What’s Ahead for MSTR Stock Price, Another Crash Or A Recovery?
• Neutral Sentiment: Macro/market instruments referenced (e.g., inverse S&P product) and unrelated industry antitrust news add broader market context but don’t directly move MSTR on their own. SPXS: A -3x Inverse Leveraged Strategy On The S&P 500
• Negative Sentiment: Company pivot — social and market commentary report Strategy has paused aggressive Bitcoin purchases and is building a cash reserve via stock sales (including large insider dispositions). That shift undermines the pure?play Bitcoin accumulation narrative and raises dilution/strategy risk for holders. MicroStrategy Stock (MSTR) Opinions on Bitcoin Strategy Pause
• Negative Sentiment: Analyst downgrade and price action pressure — a report noting an analyst downgrade (and a headline of trading down ~3.9%) is cited as an immediate catalyst depressing the share price; combined with heavy insider selling noted in filings, near?term sentiment is negative. Strategy (NASDAQ:MSTR) Trading Down 3.9% on Analyst Downgrade

Insider Buying and Selling

In other news, EVP Wei-Ming Shao sold 2,600 shares of the stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $202.02, for a total transaction of $525,252.00. Following the completion of the sale, the executive vice president owned 32,726 shares in the company, valued at approximately $6,611,306.52. This represents a 7.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jarrod M. Patten purchased 12,000 shares of the stock in a transaction that occurred on Friday, October 17th. The shares were bought at an average cost of $96.88 per share, for a total transaction of $1,162,560.00. Following the acquisition, the director owned 29,335 shares of the company’s stock, valued at approximately $2,841,974.80. The trade was a 69.22% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders acquired 24,880 shares of company stock worth $2,421,219 and sold 43,177 shares worth $13,564,266. 8.46% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on MSTR shares. China Renaissance started coverage on Strategy in a report on Wednesday, October 15th. They issued a “buy” rating and a $473.00 target price on the stock. Sanford C. Bernstein set a $450.00 price objective on Strategy and gave the company an “outperform” rating in a report on Monday, December 8th. HC Wainwright cut their target price on Strategy from $521.00 to $475.00 and set a “buy” rating on the stock in a research report on Monday, November 3rd. Benchmark reaffirmed a “buy” rating on shares of Strategy in a report on Monday, December 1st. Finally, TD Cowen dropped their price target on shares of Strategy from $620.00 to $535.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Strategy presently has an average rating of “Moderate Buy” and a consensus target price of $465.13.

Strategy Stock Up 0.1%

Shares of NASDAQ MSTR opened at $158.81 on Friday. The business has a 50-day moving average price of $208.68 and a 200 day moving average price of $310.60. The stock has a market cap of $45.63 billion, a PE ratio of 7.39 and a beta of 3.40. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.16. Strategy Inc has a 52-week low of $154.12 and a 52-week high of $457.22.

Strategy (NASDAQ:MSTR) last issued its quarterly earnings data on Thursday, October 30th. The software maker reported $8.42 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $8.52. The company had revenue of $128.69 million during the quarter, compared to analysts’ expectations of $116.65 million. Strategy had a return on equity of 20.98% and a net margin of 1,667.09%.The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.56) earnings per share. Strategy has set its FY 2025 guidance at 80.000-80.000 EPS.

Strategy Profile

Strategy, formerly known as MicroStrategy, Incorporated (NASDAQ: MSTR) is a global provider of enterprise analytics and mobility software. The company’s flagship platform offers business intelligence, data discovery, and advanced visualizations that enable organizations to analyze large volumes of data and deliver actionable insights. In addition to traditional on-premises deployments, Strategy provides a range of cloud-based services and managed offerings that allow customers to leverage the power of its analytics tools without managing complex infrastructure.

Founded in 1989 by Michael J.