Concurrent Investment Advisors LLC Increases Stake in MicroStrategy Incorporated (NASDAQ:MSTR)

Concurrent Investment Advisors LLC raised its holdings in shares of MicroStrategy Incorporated (NASDAQ:MSTR) by 1,517.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,623 shares of the software maker’s stock after purchasing an additional 3,399 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in MicroStrategy were worth $611,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. National Pension Service lifted its stake in shares of MicroStrategy by 900.0% during 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 in the last quarter. Janney Montgomery Scott LLC raised its holdings in MicroStrategy by 848.8% during the 3rd quarter. Janney Montgomery Scott LLC now owns 37,005 shares of the software maker’s stock valued at $6,239,000 after acquiring an additional 33,105 shares during the period. Farther Finance Advisors LLC lifted its position in shares of MicroStrategy by 3,905.6% during the third quarter. Farther Finance Advisors LLC now owns 3,605 shares of the software maker’s stock worth $608,000 after acquiring an additional 3,515 shares in the last quarter. Gulf International Bank UK Ltd boosted its holdings in shares of MicroStrategy by 857.4% in the third quarter. Gulf International Bank UK Ltd now owns 12,302 shares of the software maker’s stock worth $2,074,000 after acquiring an additional 11,017 shares during the period. Finally, Van ECK Associates Corp grew its position in shares of MicroStrategy by 1,065.3% in the third quarter. Van ECK Associates Corp now owns 154,548 shares of the software maker’s stock valued at $26,057,000 after purchasing an additional 141,286 shares in the last quarter. Institutional investors own 72.03% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on MSTR shares. Maxim Group raised their target price on MicroStrategy from $193.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Canaccord Genuity Group raised their price objective on shares of MicroStrategy from $173.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Sanford C. Bernstein decreased their target price on shares of MicroStrategy from $2,890.00 to $290.00 and set an “outperform” rating on the stock in a report on Wednesday, October 9th. BTIG Research raised their price target on shares of MicroStrategy from $180.00 to $240.00 and gave the company a “buy” rating in a report on Monday, October 21st. Finally, Benchmark upped their price target on shares of MicroStrategy from $245.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $271.13.

MicroStrategy Stock Performance

MicroStrategy stock opened at $270.42 on Friday. MicroStrategy Incorporated has a fifty-two week low of $43.87 and a fifty-two week high of $280.80. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.47 and a current ratio of 0.65. The stock has a market cap of $54.80 billion, a P/E ratio of -128.16 and a beta of 3.05. The firm’s fifty day moving average price is $183.23 and its 200-day moving average price is $158.17.

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 analysts’ consensus estimates of ($0.12) by ($1.44). MicroStrategy had a negative net margin of 87.05% and a negative return on equity of 17.31%. The firm had revenue of $116.07 million for the quarter, compared to analysts’ expectations of $121.45 million. During the same quarter in the previous year, the business earned ($8.98) EPS. The company’s revenue for the quarter was down 10.3% on a year-over-year basis.

Insider Activity at MicroStrategy

In other MicroStrategy news, CAO Jeanine Montgomery sold 56,250 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $257.41, for a total value of $14,479,312.50. Following the completion of the sale, the chief accounting officer now owns 5,670 shares of the company’s stock, valued at $1,459,514.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Phong Le sold 50,000 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 12,670 shares of the company’s stock, valued at approximately $1,752,007.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jeanine Montgomery sold 56,250 shares of the business’s stock in a transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 163,788 shares of company stock valued at $29,895,333. Corporate insiders own 13.18% of the company’s stock.

MicroStrategy 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.