Van ECK Associates Corp Boosts Position in MicroStrategy Incorporated (NASDAQ:MSTR)

Van ECK Associates Corp increased its position in shares of MicroStrategy Incorporated (NASDAQ:MSTR) by 1,065.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 154,548 shares of the software maker’s stock after acquiring an additional 141,286 shares during the quarter. Van ECK Associates Corp’s holdings in MicroStrategy were worth $26,057,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Capital International Investors increased its stake in MicroStrategy by 14.9% during the first quarter. Capital International Investors now owns 1,791,564 shares of the software maker’s stock worth $3,053,828,000 after acquiring an additional 232,667 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of MicroStrategy by 34.8% during the 1st quarter. Vanguard Group Inc. now owns 1,553,048 shares of the software maker’s stock worth $2,647,263,000 after purchasing an additional 401,071 shares during the period. International Assets Investment Management LLC increased its position in shares of MicroStrategy by 224,965.1% during the 3rd quarter. International Assets Investment Management LLC now owns 238,569 shares of the software maker’s stock worth $40,223,000 after purchasing an additional 238,463 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in MicroStrategy by 827.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 225,531 shares of the software maker’s stock valued at $38,025,000 after buying an additional 201,210 shares during the period. Finally, Yong Rong HK Asset Management Ltd acquired a new position in MicroStrategy in the third quarter valued at about $35,558,000. Hedge funds and other institutional investors own 72.03% of the company’s stock.

MicroStrategy Stock Performance

Shares of MicroStrategy stock opened at $257.81 on Thursday. The business has a 50-day simple moving average of $175.19 and a 200-day simple moving average of $155.53. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.47 and a current ratio of 0.65. MicroStrategy Incorporated has a one year low of $43.87 and a one year high of $267.89. The company has a market cap of $45.73 billion, a PE ratio of -122.36 and a beta of 3.05.

MicroStrategy (NASDAQ:MSTR) last posted its quarterly earnings results on Wednesday, October 30th. The software maker reported ($1.56) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $116.07 million for the quarter, compared to analyst estimates of $121.45 million. During the same quarter last year, the firm earned ($8.98) EPS. The company’s revenue was down 10.3% on a year-over-year basis.

Insider Buying and Selling at MicroStrategy

In other news, EVP Wei-Ming Shao sold 3,000 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $141.20, for a total value of $423,600.00. Following the transaction, the executive vice president now owns 6,460 shares in the company, valued at approximately $912,152. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Phong Le sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $138.28, for a total transaction of $6,914,000.00. Following the completion of the sale, the chief executive officer now owns 12,670 shares in the company, valued at approximately $1,752,007.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Wei-Ming Shao sold 3,000 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $141.20, for a total transaction of $423,600.00. Following the completion of the transaction, the executive vice president now directly owns 6,460 shares in the company, valued at $912,152. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 101,838 shares of company stock worth $13,950,265 over the last ninety days. Corporate insiders own 13.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MSTR. BTIG Research upped their price objective on shares of MicroStrategy from $180.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Benchmark raised their price target on MicroStrategy from $245.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. TD Cowen boosted their price objective on MicroStrategy from $200.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Sanford C. Bernstein lowered their target price on MicroStrategy from $2,890.00 to $290.00 and set an “outperform” rating for the company in a report on Wednesday, October 9th. Finally, Maxim Group boosted their price target on shares of MicroStrategy from $193.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, MicroStrategy presently has an average rating of “Moderate Buy” and a consensus target price of $271.13.

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.