California Public Employees Retirement System Has $76.67 Million Position in MicroStrategy Incorporated (NASDAQ:MSTR)

California Public Employees Retirement System reduced its position in MicroStrategy Incorporated (NASDAQ:MSTR - Free Report) by 3.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 264,713 shares of the software maker's stock after selling 10,166 shares during the period. California Public Employees Retirement System owned 0.11% of MicroStrategy worth $76,666,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Thrivent Financial for Lutherans raised its stake in shares of MicroStrategy by 1,486.5% during the third quarter. Thrivent Financial for Lutherans now owns 5,410 shares of the software maker's stock worth $912,000 after buying an additional 5,069 shares during the last quarter. Cerity Partners LLC acquired a new stake in MicroStrategy during the 3rd quarter worth $1,040,000. The Manufacturers Life Insurance Company raised its position in shares of MicroStrategy by 204.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,279 shares of the software maker's stock valued at $1,396,000 after acquiring an additional 5,560 shares during the last quarter. D.A. Davidson & CO. lifted its stake in shares of MicroStrategy by 932.9% in the 3rd quarter. D.A. Davidson & CO. now owns 5,185 shares of the software maker's stock valued at $874,000 after purchasing an additional 4,683 shares during the period. Finally, Townsquare Capital LLC boosted its position in shares of MicroStrategy by 1,235.9% in the 3rd quarter. Townsquare Capital LLC now owns 3,874 shares of the software maker's stock worth $653,000 after purchasing an additional 3,584 shares during the last quarter. Institutional investors own 59.84% of the company's stock.

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MicroStrategy Stock Up 2.1 %

NASDAQ:MSTR traded up $6.52 during trading hours on Wednesday, reaching $312.54. 15,963,393 shares of the stock were exchanged, compared to its average volume of 17,855,232. 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 Incorporated has a twelve month low of $101.00 and a twelve month high of $543.00. The stock has a market cap of $80.43 billion, a PE ratio of -55.48 and a beta of 3.36. The firm has a 50 day moving average of $309.81 and a 200 day moving average of $298.32.

MicroStrategy (NASDAQ:MSTR - Get Free Report) last announced its earnings results on Wednesday, February 5th. The software maker reported ($3.20) EPS 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%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods started coverage on shares of MicroStrategy in a research report on Friday, February 7th. They issued an "outperform" rating and a $560.00 price target on the stock. Compass Point upgraded shares of MicroStrategy to a "strong-buy" rating in a report on Wednesday, January 29th. Maxim Group boosted their price target on shares of MicroStrategy from $480.00 to $500.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Sanford C. Bernstein restated an "outperform" rating and issued a $600.00 price objective on shares of MicroStrategy in a research report on Thursday, December 12th. Finally, Canaccord Genuity Group reduced their target price on MicroStrategy from $510.00 to $409.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $508.09.

Insider Buying and Selling

In other news, Director Leslie J. Rechan sold 15,000 shares of the company's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $335.90, for a total transaction of $5,038,500.00. Following the sale, the director now owns 4,970 shares in the company, valued at $1,669,423. This represents a 75.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Wei-Ming Shao bought 500 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The stock was purchased at an average cost of $85.00 per share, with a total value of $42,500.00. Following the completion of the purchase, the executive vice president now directly owns 500 shares of the company's stock, valued at $42,500. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 8,000 shares of company stock worth $680,000 and have sold 22,998 shares worth $7,671,926. 9.16% of the stock is currently owned by corporate insiders.

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.