MicroStrategy (NASDAQ:MSTR) Stock Price Down 0.8% – Here’s Why

MicroStrategy Incorporated (NASDAQ:MSTR) shares traded down 0.8% on Wednesday . The company traded as low as $331.23 and last traded at $338.55. 5,218,966 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 19,840,410 shares. The stock had previously closed at $341.43.

Analyst Ratings Changes

Several analysts have commented on MSTR shares. Maxim Group lifted their price objective on shares of MicroStrategy from $193.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Canaccord Genuity Group boosted their target price on MicroStrategy from $300.00 to $510.00 and gave the company a “buy” rating in a research note on Monday, November 25th. TD Cowen increased their price target on MicroStrategy from $392.00 to $525.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. BTIG Research upped their price objective on shares of MicroStrategy from $290.00 to $570.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $600.00 price target on shares of MicroStrategy in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $479.25.

MicroStrategy Stock Performance

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 company has a market cap of $80.00 billion, a PE ratio of -158.44 and a beta of 3.25. The business has a fifty day moving average of $347.58 and a 200-day moving average of $223.80.

MicroStrategy (NASDAQ:MSTR) last posted its earnings results on Wednesday, October 30th. The software maker reported ($1.56) EPS for the quarter, missing the consensus estimate of ($0.12) by ($1.44). MicroStrategy had a negative return on equity of 17.31% and a negative net margin of 87.05%. The company had revenue of $116.07 million during the quarter, compared to analysts’ expectations of $121.45 million. During the same period in the prior year, the business posted ($8.98) earnings per share. The company’s revenue for the quarter was down 10.3% on a year-over-year basis.

Insider Buying and Selling at MicroStrategy

In other MicroStrategy news, CAO Jeanine Montgomery sold 56,250 shares of MicroStrategy stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $257.41, for a total value of $14,479,312.50. Following the sale, the chief accounting officer now directly owns 5,670 shares in the company, valued at approximately $1,459,514.70. The trade was a 90.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Andrew Kang sold 5,700 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $257.15, for a total value of $1,465,755.00. Following the transaction, the chief financial officer now directly owns 12,080 shares of the company’s stock, valued at approximately $3,106,372. The trade was a 32.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 102,000 shares of company stock worth $32,259,177. Insiders own 13.18% of the company’s stock.

Hedge Funds Weigh In On MicroStrategy

Several institutional investors have recently bought and sold shares of the business. TD Asset Management Inc bought a new stake in MicroStrategy during the 2nd quarter valued at $3,598,000. Candriam S.C.A. bought a new stake in shares of MicroStrategy in the second quarter valued at about $1,150,000. Savant Capital LLC grew its holdings in MicroStrategy by 2.6% during the 2nd quarter. Savant Capital LLC now owns 599 shares of the software maker’s stock worth $825,000 after acquiring an additional 15 shares in the last quarter. Caprock Group LLC purchased a new position in MicroStrategy during the 2nd quarter valued at about $1,289,000. Finally, Ballentine Partners LLC raised its holdings in shares of MicroStrategy by 5.0% in the 2nd quarter. Ballentine Partners LLC now owns 313 shares of the software maker’s stock valued at $431,000 after purchasing an additional 15 shares in the last quarter. Institutional investors own 59.84% of the company’s stock.

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.