Oppenheimer & Co. Inc. Acquires Shares of 1,411 MicroStrategy Incorporated (NASDAQ:MSTR)

Oppenheimer & Co. Inc. bought a new position in shares of MicroStrategy Incorporated (NASDAQ:MSTR) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,411 shares of the software maker’s stock, valued at approximately $238,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MSTR. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of MicroStrategy by 1,077.0% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 343,164 shares of the software maker’s stock valued at $57,857,000 after purchasing an additional 314,007 shares during the last quarter. International Assets Investment Management LLC grew its position in MicroStrategy by 224,965.1% in the 3rd quarter. International Assets Investment Management LLC now owns 238,569 shares of the software maker’s stock valued at $40,223,000 after buying an additional 238,463 shares during the last quarter. National Pension Service increased its stake in MicroStrategy by 900.0% in the 3rd quarter. National Pension Service now owns 245,000 shares of the software maker’s stock valued at $41,307,000 after buying an additional 220,500 shares during the period. Yong Rong HK Asset Management Ltd purchased a new position in MicroStrategy during the 3rd quarter worth $35,558,000. Finally, Commonwealth Equity Services LLC lifted its stake in shares of MicroStrategy by 827.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 225,531 shares of the software maker’s stock worth $38,025,000 after acquiring an additional 201,210 shares during the period. Hedge funds and other institutional investors own 72.03% of the company’s stock.

Analyst Ratings Changes

MSTR has been the topic of several analyst reports. TD Cowen lifted their target price on shares of MicroStrategy from $200.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Maxim Group raised their price target on MicroStrategy from $193.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, October 31st. BTIG Research upped their price objective on MicroStrategy from $290.00 to $570.00 and gave the stock a “buy” rating in a report on Thursday. Canaccord Genuity Group raised their target price on MicroStrategy from $173.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Barclays boosted their target price on shares of MicroStrategy from $225.00 to $275.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $331.13.

MicroStrategy Stock Up 6.2 %

MicroStrategy stock opened at $421.88 on Friday. MicroStrategy Incorporated has a fifty-two week low of $43.87 and a fifty-two week high of $543.00. The firm has a market capitalization of $85.49 billion, a price-to-earnings ratio of -199.94 and a beta of 3.05. The stock’s fifty day moving average is $233.68 and its two-hundred day moving average is $175.91. 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 (NASDAQ:MSTR) last announced its 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). The business had revenue of $116.07 million for the quarter, compared to analyst estimates 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 was down 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($8.98) EPS.

Insider Buying and Selling

In related news, CFO Andrew Kang sold 5,700 shares of the company’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 transaction, the chief financial officer now owns 12,080 shares of the company’s stock, valued at approximately $3,106,372. This represents a 32.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Jeanine Montgomery sold 56,250 shares of MicroStrategy stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 of the company’s stock, valued at $1,459,514.70. The trade was a 90.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 82,000 shares of company stock worth $23,231,977 in the last ninety days. Insiders own 13.18% of the company’s stock.

MicroStrategy Company Profile

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.