MicroStrategy (NASDAQ:MSTR) Trading Up 1.2% – Here’s Why

Shares of MicroStrategy Incorporated (NASDAQ:MSTR) shot up 1.2% on Wednesday . The company traded as high as $310.59 and last traded at $309.64. 4,289,368 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 17,809,913 shares. The stock had previously closed at $306.02.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MSTR shares. Benchmark reiterated a “buy” rating and set a $650.00 price target on shares of MicroStrategy in a report on Tuesday, January 14th. Canaccord Genuity Group lowered their target price on shares of MicroStrategy from $510.00 to $409.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Mizuho started coverage on shares of MicroStrategy in a report on Wednesday, January 29th. They set an “outperform” rating and a $515.00 price target on the stock. Cantor Fitzgerald increased their price objective on shares of MicroStrategy from $613.00 to $619.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $600.00 target price on shares of MicroStrategy in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $508.09.

MicroStrategy Stock Performance

The company has a debt-to-equity ratio of 0.39, a current ratio of 0.71 and a quick ratio of 0.65. The company has a 50 day simple moving average of $306.70 and a 200-day simple moving average of $298.31. The stock has a market capitalization of $72.65 billion, a P/E ratio of -50.11 and a beta of 3.36.

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 analysts’ consensus estimates 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 Buying and Selling at MicroStrategy

In other news, Director Leslie J. Rechan sold 15,000 shares of the company’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $335.90, for a total value of $5,038,500.00. Following the transaction, the director now owns 4,970 shares of the company’s stock, valued at approximately $1,669,423. This represents a 75.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Andrew Kang acquired 1,500 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The shares were acquired at an average cost of $85.00 per share, with a total value of $127,500.00. Following the purchase, the chief financial officer now directly owns 1,500 shares of the company’s stock, valued at $127,500. This trade represents a ? increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 8,000 shares of company stock valued at $680,000 and have sold 22,998 shares valued at $7,671,926. Insiders own 9.16% of the company’s stock.

Hedge Funds Weigh In On MicroStrategy

Institutional investors have recently added to or reduced their stakes in the business. Riverview Trust Co purchased a new stake in MicroStrategy in the fourth quarter valued at approximately $25,000. IAG Wealth Partners LLC bought a new position in shares of MicroStrategy during the 4th quarter valued at about $25,000. Quadrant Capital Group LLC lifted its position in MicroStrategy by 855.6% in the 4th quarter. Quadrant Capital Group LLC now owns 86 shares of the software maker’s stock worth $25,000 after buying an additional 77 shares during the last quarter. Dunhill Financial LLC bought a new position in MicroStrategy during the fourth quarter valued at approximately $26,000. Finally, Sunbelt Securities Inc. raised its stake 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 in the last quarter. 59.84% of the stock is currently owned by 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.