MicroStrategy (NASDAQ:MSTR) Trading Down 6.6% – Here’s What Happened

MicroStrategy Incorporated (NASDAQ:MSTR)’s share price dropped 6.6% during mid-day trading on Friday . The stock traded as low as $300.11 and last traded at $303.06. Approximately 5,990,502 shares were traded during trading, a decline of 66% from the average daily volume of 17,827,162 shares. The stock had previously closed at $324.59.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Cantor Fitzgerald increased their target price on MicroStrategy from $613.00 to $619.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Keefe, Bruyette & Woods assumed coverage on MicroStrategy in a research note on Friday, February 7th. They set an “outperform” rating and a $560.00 price objective on the stock. Benchmark reissued a “buy” rating and issued a $650.00 target price on shares of MicroStrategy in a research note on Tuesday, January 14th. Mizuho started coverage on shares of MicroStrategy in a research note on Wednesday, January 29th. They set an “outperform” rating and a $515.00 price target on the stock. Finally, Monness Crespi & Hardt initiated coverage on shares of MicroStrategy in a research report on Wednesday, March 19th. They issued a “neutral” rating for the company. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, MicroStrategy presently has a consensus rating of “Buy” and a consensus price target of $536.90.

MicroStrategy Stock Down 9.8 %

The stock has a market cap of $75.31 billion, a price-to-earnings ratio of -51.86 and a beta of 3.36. The firm’s 50-day moving average is $315.78 and its 200 day moving average is $292.60. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.71 and a quick ratio of 0.65.

MicroStrategy (NASDAQ:MSTR) last issued its earnings results on Wednesday, February 5th. The software maker reported ($3.20) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($3.07). MicroStrategy had a negative return on equity of 19.01% and a negative net margin of 251.73%.

Insider Activity

In other MicroStrategy news, CAO Jeanine Montgomery sold 481 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $329.27, for a total value of $158,378.87. Following the transaction, the chief accounting officer now directly owns 7,805 shares of the company’s stock, valued at $2,569,952.35. This trade represents a 5.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Wei-Ming Shao acquired 500 shares of MicroStrategy stock in a transaction on Thursday, March 20th. The shares were bought at an average price of $85.00 per share, for a total transaction of $42,500.00. Following the purchase, the executive vice president now owns 500 shares of the company’s stock, valued at $42,500. This represents a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 8,000 shares of company stock valued at $680,000 and have sold 22,998 shares valued at $7,671,926. Corporate insiders own 9.16% of the company’s stock.

Institutional Investors Weigh In On MicroStrategy

Several hedge funds have recently modified their holdings of the stock. Riverview Trust Co acquired a new stake in MicroStrategy in the fourth quarter valued at approximately $25,000. IAG Wealth Partners LLC purchased a new position in shares of MicroStrategy in the fourth quarter valued at $25,000. Quadrant Capital Group LLC grew its holdings in MicroStrategy by 855.6% during the 4th quarter. Quadrant Capital Group LLC now owns 86 shares of the software maker’s stock valued at $25,000 after purchasing an additional 77 shares in the last quarter. Dunhill Financial LLC purchased a new stake in MicroStrategy during the 4th quarter worth $26,000. Finally, Sunbelt Securities Inc. increased its position in shares of MicroStrategy by 900.0% during the third quarter. Sunbelt Securities Inc. now owns 160 shares of the software maker’s stock worth $27,000 after acquiring an additional 144 shares during the last quarter. 59.84% of the stock is currently owned by hedge funds and other institutional investors.

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.