MicroStrategy (NASDAQ:MSTR) Trading 0% Higher - Here's What Happened

Shares of MicroStrategy Incorporated (NASDAQ:MSTR - Get Free Report) shot up 0% on Thursday . The company traded as high as $333.49 and last traded at $329.35. 4,383,394 shares traded hands during trading, a decline of 75% from the average session volume of 17,870,369 shares. The stock had previously closed at $329.31.

Wall Street Analyst Weigh In

MSTR has been the subject of a number of recent research reports. Canaccord Genuity Group cut their price objective on MicroStrategy from $510.00 to $409.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. Sanford C. Bernstein reiterated an "outperform" rating and issued a $600.00 price target on shares of MicroStrategy in a research report on Thursday, December 12th. Mizuho began coverage on shares of MicroStrategy in a research note on Wednesday, January 29th. They set an "outperform" rating and a $515.00 target price on the stock. Barclays dropped their target price on shares of MicroStrategy from $515.00 to $421.00 and set an "overweight" rating for the company in a report on Monday, February 10th. Finally, Monness Crespi & Hardt started coverage on MicroStrategy in a report on Wednesday, March 19th. They set a "neutral" rating on the stock. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, MicroStrategy currently has an average rating of "Buy" and an average price target of $536.90.

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MicroStrategy Stock Performance

The company has a quick ratio of 0.65, a current ratio of 0.71 and a debt-to-equity ratio of 0.39. The business has a 50 day moving average of $313.64 and a 200 day moving average of $294.89. The company has a market capitalization of $74.48 billion, a P/E ratio of -51.38 and a beta of 3.36.

MicroStrategy (NASDAQ:MSTR - Get Free Report) last posted 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 net margin of 251.73% and a negative return on equity of 19.01%.

Insider Activity

In related news, CFO Andrew Kang bought 1,500 shares of the business's stock in a transaction dated Thursday, March 20th. The shares were purchased at an average price of $85.00 per share, with a total value of $127,500.00. Following the transaction, the chief financial officer now owns 1,500 shares in the company, valued at $127,500. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Jeanine Montgomery sold 481 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $329.27, for a total value of $158,378.87. Following the completion of the sale, the chief accounting officer now owns 7,805 shares of the company's stock, valued at approximately $2,569,952.35. This represents a 5.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have acquired 8,000 shares of company stock worth $680,000 and have sold 22,998 shares worth $7,671,926. Corporate insiders own 9.16% of the company's stock.

Hedge Funds Weigh In On MicroStrategy

A number of large investors have recently made changes to their positions in MSTR. Mascagni Wealth Management Inc. purchased a new position in shares of MicroStrategy during the fourth quarter valued at approximately $58,000. Objective Capital Management LLC purchased a new position in MicroStrategy during the 4th quarter valued at $222,000. 111 Capital bought a new position in MicroStrategy in the 4th quarter valued at $907,000. NorthCrest Asset Manangement LLC purchased a new stake in MicroStrategy in the fourth quarter worth $354,000. Finally, Northstar Financial Companies Inc. bought a new stake in shares of MicroStrategy during the fourth quarter worth $217,000. 59.84% of the stock is owned by hedge funds and other institutional investors.

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.