EverSource Wealth Advisors LLC Acquires 24,680 Shares of MicroStrategy Incorporated (NASDAQ:MSTR)

EverSource Wealth Advisors LLC raised its position in MicroStrategy Incorporated (NASDAQ:MSTR - Free Report) by 2,791.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,564 shares of the software maker's stock after acquiring an additional 24,680 shares during the quarter. EverSource Wealth Advisors LLC's holdings in MicroStrategy were worth $4,310,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. US Bancorp DE increased its holdings in MicroStrategy by 782.8% during the 3rd quarter. US Bancorp DE now owns 4,255 shares of the software maker's stock worth $717,000 after purchasing an additional 3,773 shares during the last quarter. Hartline Investment Corp increased its stake in shares of MicroStrategy by 1,064.6% in the third quarter. Hartline Investment Corp now owns 5,322 shares of the software maker's stock worth $897,000 after buying an additional 4,865 shares during the last quarter. National Pension Service raised its holdings in MicroStrategy by 900.0% in the third quarter. National Pension Service now owns 245,000 shares of the software maker's stock valued at $41,307,000 after acquiring an additional 220,500 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in MicroStrategy by 848.8% during the 3rd quarter. Janney Montgomery Scott LLC now owns 37,005 shares of the software maker's stock valued at $6,239,000 after acquiring an additional 33,105 shares during the last quarter. Finally, Chesapeake Capital Corp IL grew its holdings in MicroStrategy by 1,211.1% during the 3rd quarter. Chesapeake Capital Corp IL now owns 4,733 shares of the software maker's stock worth $834,000 after acquiring an additional 4,372 shares in the last quarter. Hedge funds and other institutional investors own 72.03% of the company's stock.

Analyst Upgrades and Downgrades

MSTR has been the topic of a number of research analyst reports. Benchmark increased their target price on MicroStrategy from $300.00 to $450.00 and gave the stock a "buy" rating in a report on Tuesday. BTIG Research lifted their price objective on shares of MicroStrategy from $180.00 to $240.00 and gave the stock a "buy" rating in a report on Monday, October 21st. Cantor Fitzgerald assumed coverage on shares of MicroStrategy in a report on Wednesday, August 21st. They set an "overweight" rating and a $194.00 target price on the stock. Maxim Group boosted their price objective on shares of MicroStrategy from $193.00 to $270.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Finally, Sanford C. Bernstein cut their target price on shares of MicroStrategy from $2,890.00 to $290.00 and set an "outperform" rating on the stock in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $289.88.

MicroStrategy Stock Performance

MicroStrategy stock traded up $43.29 during trading hours on Wednesday, reaching $473.83. 69,788,740 shares of the company were exchanged, compared to its average volume of 17,622,701. MicroStrategy Incorporated has a 12 month low of $43.87 and a 12 month high of $504.83. The firm has a market cap of $96.02 billion, a price-to-earnings ratio of -224.88 and a beta of 3.05. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.12. The stock has a 50-day moving average of $222.94 and a 200 day moving average of $172.36.

MicroStrategy (NASDAQ:MSTR - Get Free Report) last announced 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). The business had revenue of $116.07 million for the quarter, compared to the consensus estimate 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 for the quarter was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($8.98) EPS.

Insider Activity at MicroStrategy

In related news, EVP Wei-Ming Shao sold 18,000 shares of the firm'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 owns 6,460 shares in the company, valued at $2,377,344.60. This trade represents a 73.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Phong Le sold 50,000 shares of MicroStrategy stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $138.28, for a total value of $6,914,000.00. Following the transaction, the chief executive officer now directly owns 12,670 shares of the company's stock, valued at approximately $1,752,007.60. The trade was a 79.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 135,000 shares of company stock worth $30,569,577 in the last ninety days. 13.18% of the stock is currently owned by insiders.

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.