MicroStrategy (NASDAQ:MSTR) Trading Up 8.9% - Here's What Happened

MicroStrategy Incorporated (NASDAQ:MSTR - Get Free Report) shares were up 8.9% during mid-day trading on Friday . The stock traded as high as $199.94 and last traded at $199.62. Approximately 9,015,794 shares were traded during trading, a decline of 44% from the average daily volume of 16,174,337 shares. The stock had previously closed at $183.34.

Analyst Ratings Changes

MSTR has been the subject of a number of research reports. Cantor Fitzgerald initiated coverage on MicroStrategy in a research report on Wednesday, August 21st. They issued an "overweight" rating and a $194.00 price objective for the company. Canaccord Genuity Group decreased their price objective on MicroStrategy from $185.00 to $173.00 and set a "buy" rating on the stock in a report on Monday, September 16th. Sanford C. Bernstein decreased their price objective on MicroStrategy from $2,890.00 to $290.00 and set an "outperform" rating on the stock in a report on Wednesday. Maxim Group lifted their price objective on MicroStrategy from $183.50 to $193.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. Finally, TD Cowen lifted their price objective on MicroStrategy from $195.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, September 23rd. One analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $202.25.

MicroStrategy Price Performance

The company has a 50 day moving average price of $145.17 and a 200 day moving average price of $146.92. The company has a market capitalization of $37.71 billion, a price-to-earnings ratio of -152.29 and a beta of 3.11. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.31.

Remove Ads

MicroStrategy (NASDAQ:MSTR - Get Free Report) last released its earnings results on Thursday, August 1st. The software maker reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.48). The firm had revenue of $111.44 million during the quarter, compared to analyst estimates of $121.99 million. MicroStrategy had a negative net margin of 43.69% and a negative return on equity of 14.72%. The firm's quarterly revenue was down 7.4% on a year-over-year basis. During the same period last year, the business posted $0.15 earnings per share.

Insider Activity

In other news, CEO Phong Le sold 50,000 shares of MicroStrategy stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $138.28, for a total value of $6,914,000.00. Following the completion of the sale, the chief executive officer now directly owns 12,670 shares of the company's stock, valued at approximately $1,752,007.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Wei-Ming Shao sold 3,000 shares of MicroStrategy stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $141.20, for a total transaction of $423,600.00. Following the completion of the sale, the executive vice president now directly owns 6,460 shares of the company's stock, valued at $912,152. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Phong Le sold 50,000 shares of MicroStrategy stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $138.28, for a total value of $6,914,000.00. Following the sale, the chief executive officer now directly owns 12,670 shares of the company's stock, valued at approximately $1,752,007.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,838 shares of company stock valued at $13,950,265. Company insiders own 13.18% of the company's stock.

Institutional Investors Weigh In On MicroStrategy

Institutional investors have recently made changes to their positions in the stock. Signaturefd LLC grew its stake in MicroStrategy by 13.6% in the second quarter. Signaturefd LLC now owns 50 shares of the software maker's stock valued at $69,000 after acquiring an additional 6 shares during the period. GAMMA Investing LLC grew its stake in MicroStrategy by 36.4% in the second quarter. GAMMA Investing LLC now owns 30 shares of the software maker's stock valued at $41,000 after acquiring an additional 8 shares during the period. Cigna Investments Inc. New grew its stake in MicroStrategy by 5.1% in the second quarter. Cigna Investments Inc. New now owns 164 shares of the software maker's stock valued at $226,000 after acquiring an additional 8 shares during the period. Crossmark Global Holdings Inc. grew its stake in MicroStrategy by 2.8% in the second quarter. Crossmark Global Holdings Inc. now owns 400 shares of the software maker's stock valued at $551,000 after acquiring an additional 11 shares during the period. Finally, Rise Advisors LLC grew its stake in MicroStrategy by 233.3% in the first quarter. Rise Advisors LLC now owns 20 shares of the software maker's stock valued at $34,000 after acquiring an additional 14 shares during the period. 72.03% of the stock is 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.