MicroStrategy (NASDAQ:MSTR) Stock Price Up 6.9% - Here's What Happened

MicroStrategy Incorporated (NASDAQ:MSTR - Get Free Report)'s share price was up 6.9% on Friday . The stock traded as high as $392.61 and last traded at $392.43. Approximately 8,928,599 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 18,666,912 shares. The stock had previously closed at $367.00.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MSTR. BTIG Research raised their price objective on shares of MicroStrategy from $290.00 to $570.00 and gave the stock a "buy" rating in a research report on Thursday, November 21st. Canaccord Genuity Group lifted their price target on MicroStrategy from $300.00 to $510.00 and gave the stock a "buy" rating in a report on Monday, November 25th. Sanford C. Bernstein reissued an "outperform" rating and issued a $600.00 target price on shares of MicroStrategy in a research report on Thursday, December 12th. Benchmark reaffirmed a "buy" rating and set a $650.00 price target on shares of MicroStrategy in a research report on Tuesday, January 14th. Finally, TD Cowen lifted their price objective on shares of MicroStrategy from $392.00 to $525.00 and gave the stock a "buy" rating in a research note on Monday, November 25th. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $479.25.

MicroStrategy Trading Up 8.0 %

The company has a debt-to-equity ratio of 1.12, a current ratio of 0.65 and a quick ratio of 0.65. The business's 50 day moving average is $363.86 and its 200-day moving average is $234.79.

MicroStrategy (NASDAQ:MSTR - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The software maker reported ($1.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($1.44). The business had revenue of $116.07 million during 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%. The company's revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($8.98) EPS.

Insider Transactions at MicroStrategy

In related news, CAO Jeanine Montgomery sold 752 shares of the business's stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $322.45, for a total transaction of $242,482.40. Following the sale, the chief accounting officer now owns 6,418 shares in the company, valued at $2,069,484.10. The trade was a 10.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Stephen X. Graham sold 20,000 shares of the company's 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 transaction, the director now directly owns 6,970 shares of the company's stock, valued at approximately $3,145,979.20. The trade was a 74.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 102,000 shares of company stock valued at $32,259,177. 9.16% of the stock is currently owned by insiders.

Institutional Trading of MicroStrategy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in shares of MicroStrategy by 990.6% in the third quarter. Geode Capital Management LLC now owns 2,766,283 shares of the software maker's stock worth $465,573,000 after purchasing an additional 2,512,645 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in MicroStrategy by 587.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 664,261 shares of the software maker's stock worth $111,994,000 after buying an additional 567,628 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of MicroStrategy by 971.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 639,707 shares of the software maker's stock valued at $107,855,000 after buying an additional 579,994 shares during the last quarter. Swiss National Bank increased its stake in shares of MicroStrategy by 904.7% in the third quarter. Swiss National Bank now owns 468,200 shares of the software maker's stock valued at $78,939,000 after buying an additional 421,600 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in shares of MicroStrategy by 1,077.0% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 343,164 shares of the software maker's stock valued at $57,857,000 after buying an additional 314,007 shares during the period. 59.84% of the stock is currently owned by institutional investors.

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.