MicroStrategy Incorporated (NASDAQ:MSTR) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc increased its stake in shares of MicroStrategy Incorporated (NASDAQ:MSTR) by 935.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,340 shares of the software maker’s stock after purchasing an additional 3,921 shares during the quarter. CIBC Asset Management Inc’s holdings in MicroStrategy were worth $732,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MSTR. Sei Investments Co. lifted its position in MicroStrategy by 36.3% in the first quarter. Sei Investments Co. now owns 575 shares of the software maker’s stock valued at $980,000 after purchasing an additional 153 shares during the period. Edgestream Partners L.P. purchased a new stake in shares of MicroStrategy in the first quarter valued at approximately $309,000. O Shaughnessy Asset Management LLC grew its holdings in MicroStrategy by 23.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 720 shares of the software maker’s stock worth $1,227,000 after acquiring an additional 136 shares during the period. American International Group Inc. raised its position in MicroStrategy by 20.7% in the first quarter. American International Group Inc. now owns 7,326 shares of the software maker’s stock worth $12,488,000 after acquiring an additional 1,254 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in MicroStrategy by 19.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 1,374 shares of the software maker’s stock valued at $2,343,000 after acquiring an additional 225 shares during the period. 72.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Wei-Ming Shao sold 18,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $368.01, for a total transaction of $6,624,180.00. Following the completion of the transaction, the executive vice president now directly owns 6,460 shares in the company, valued at approximately $2,377,344.60. The trade was a 73.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Jeanine Montgomery sold 56,250 shares of MicroStrategy stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $257.41, for a total value of $14,479,312.50. Following the sale, the chief accounting officer now directly owns 5,670 shares in the company, valued at $1,459,514.70. The trade was a 90.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 82,000 shares of company stock valued at $23,231,977. 13.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MSTR. Barclays upped 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. Benchmark raised their price objective on MicroStrategy from $300.00 to $450.00 and gave the company a “buy” rating in a research note on Tuesday. Maxim Group boosted their target price on MicroStrategy from $193.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. BTIG Research upped their target price on MicroStrategy from $180.00 to $240.00 and gave the company a “buy” rating in a report on Monday, October 21st. Finally, Canaccord Genuity Group boosted their price objective on shares of MicroStrategy from $173.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to data from MarketBeat, MicroStrategy presently has a consensus rating of “Moderate Buy” and a consensus target price of $289.88.

MicroStrategy Trading Up 10.1 %

NASDAQ MSTR opened at $473.83 on Thursday. The company’s fifty day moving average price is $222.94 and its two-hundred day moving average price is $172.36. The company has a market capitalization of $96.02 billion, a price-to-earnings ratio of -224.88 and a beta of 3.05. MicroStrategy Incorporated has a 12 month low of $43.87 and a 12 month high of $504.83. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.65 and a quick ratio of 0.65.

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

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.