MicroStrategy (NASDAQ:MSTR) Shares Gap Up - Here's What Happened

MicroStrategy Incorporated (NASDAQ:MSTR - Get Free Report)'s share price gapped up before the market opened on Friday . The stock had previously closed at $367.00, but opened at $383.28. MicroStrategy shares last traded at $390.18, with a volume of 4,940,047 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on MSTR shares. Sanford C. Bernstein restated an "outperform" rating and issued a $600.00 price objective on shares of MicroStrategy in a research note on Thursday, December 12th. Maxim Group lifted their price objective on shares of MicroStrategy from $193.00 to $270.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Barclays upped their price objective on shares of MicroStrategy from $275.00 to $515.00 and gave the company an "overweight" rating in a report on Monday, November 25th. BTIG Research raised their target price on shares of MicroStrategy from $290.00 to $570.00 and gave the stock a "buy" rating in a report on Thursday, November 21st. Finally, Canaccord Genuity Group upped their price target on shares of MicroStrategy from $300.00 to $510.00 and gave the company a "buy" rating in a report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $479.25.

MicroStrategy Stock Performance

The firm has a market cap of $95.02 billion, a price-to-earnings ratio of -188.18 and a beta of 3.25. 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 business's 50-day simple moving average is $361.34 and its two-hundred day simple moving average is $232.27.

MicroStrategy (NASDAQ:MSTR - Get Free Report) 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). MicroStrategy had a negative net margin of 87.05% and a negative return on equity of 17.31%. The business had revenue of $116.07 million during the quarter, compared to analysts' expectations of $121.45 million. During the same quarter last year, the firm earned ($8.98) earnings per share. The firm's quarterly revenue was down 10.3% compared to the same quarter last year.

Insiders Place Their Bets

In related news, EVP Wei-Ming Shao sold 18,000 shares of the company's stock in a transaction dated Wednesday, November 13th. The shares were 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 represents a 73.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen X. Graham sold 20,000 shares of MicroStrategy stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $451.36, for a total value of $9,027,200.00. Following the completion of the sale, the director now owns 6,970 shares in the company, valued at approximately $3,145,979.20. The trade was a 74.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 102,000 shares of company stock worth $32,259,177. Company insiders own 9.16% of the company's stock.

Institutional Investors Weigh In On MicroStrategy

A number of hedge funds have recently modified their holdings of MSTR. UMB Bank n.a. lifted its stake in MicroStrategy by 900.0% in the 3rd quarter. UMB Bank n.a. now owns 150 shares of the software maker's stock worth $25,000 after purchasing an additional 135 shares in the last quarter. AlphaMark Advisors LLC boosted its holdings in MicroStrategy by 2,900.0% in the 3rd quarter. AlphaMark Advisors LLC now owns 150 shares of the software maker's stock valued at $25,000 after purchasing an additional 145 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of MicroStrategy in the 3rd quarter valued at approximately $27,000. Sunbelt Securities Inc. increased its holdings in shares of MicroStrategy by 900.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 160 shares of the software maker's stock worth $27,000 after buying an additional 144 shares during the last quarter. Finally, ST Germain D J Co. Inc. raised its position in shares of MicroStrategy by 900.0% during the 3rd quarter. ST Germain D J Co. Inc. now owns 170 shares of the software maker's stock valued at $29,000 after buying an additional 153 shares during the period. 59.84% of the stock is currently owned by institutional investors and hedge funds.

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.