MicroStrategy (NASDAQ:MSTR) Shares Up 15.4% After Analyst Upgrade

MicroStrategy Incorporated (NASDAQ:MSTR)’s stock price shot up 15.4% during trading on Wednesday after BTIG Research raised their price target on the stock from $290.00 to $570.00. BTIG Research currently has a buy rating on the stock. MicroStrategy traded as high as $499.35 and last traded at $496.77. 29,654,531 shares were traded during trading, an increase of 70% from the average session volume of 17,428,742 shares. The stock had previously closed at $430.54.

A number of other equities research analysts have also weighed in on MSTR. Sanford C. Bernstein lowered their price target on shares of MicroStrategy from $2,890.00 to $290.00 and set an “outperform” rating for the company in a report on Wednesday, October 9th. Benchmark raised their target price 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 price target 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 MicroStrategy from $173.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, TD Cowen upped their target price on MicroStrategy from $200.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. Based on data from MarketBeat, MicroStrategy presently has a consensus rating of “Moderate Buy” and an average price target of $331.13.

Insider Buying and Selling at MicroStrategy

In other news, CFO Andrew Kang sold 5,700 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $257.15, for a total transaction of $1,465,755.00. Following the completion of the transaction, the chief financial officer now directly owns 12,080 shares of the company’s stock, valued at approximately $3,106,372. This represents a 32.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jeanine Montgomery sold 752 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $322.45, for a total value of $242,482.40. Following the completion of the sale, the chief accounting officer now directly owns 6,418 shares in the company, valued at approximately $2,069,484.10. This trade represents a 10.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 82,000 shares of company stock worth $23,231,977 over the last quarter. 13.18% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MicroStrategy

Several hedge funds and other institutional investors have recently modified their holdings of the company. Signaturefd LLC boosted its stake in MicroStrategy by 13.6% during the 2nd quarter. Signaturefd LLC now owns 50 shares of the software maker’s stock valued at $69,000 after purchasing an additional 6 shares during the period. GAMMA Investing LLC grew its holdings in MicroStrategy by 36.4% in the 2nd quarter. GAMMA Investing LLC now owns 30 shares of the software maker’s stock worth $41,000 after buying an additional 8 shares in the last quarter. Cigna Investments Inc. New increased its position in MicroStrategy by 5.1% in the 2nd quarter. Cigna Investments Inc. New now owns 164 shares of the software maker’s stock valued at $226,000 after acquiring an additional 8 shares during the period. Crossmark Global Holdings Inc. raised its stake in MicroStrategy by 2.8% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 400 shares of the software maker’s stock valued at $551,000 after acquiring an additional 11 shares in the last quarter. Finally, Dakota Wealth Management boosted its position in MicroStrategy by 0.3% during the 2nd quarter. Dakota Wealth Management now owns 4,515 shares of the software maker’s stock worth $6,219,000 after acquiring an additional 15 shares during the period. Institutional investors and hedge funds own 72.03% of the company’s stock.

MicroStrategy Stock Performance

The company has a market cap of $78.52 billion, a P/E ratio of -183.65 and a beta of 3.05. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.12. The company has a 50 day moving average price of $228.07 and a 200-day moving average price of $173.86.

MicroStrategy (NASDAQ:MSTR) last posted its quarterly earnings data on Wednesday, October 30th. The software maker reported ($1.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($1.44). The company had revenue of $116.07 million for the quarter, compared to analyst estimates of $121.45 million. MicroStrategy had a negative net margin of 87.05% and a negative return on equity of 17.31%. MicroStrategy’s revenue was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($8.98) EPS.

About MicroStrategy

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.