MicroStrategy (NASDAQ:MSTR) Stock Price Up 7.8% – Here’s What Happened

MicroStrategy Incorporated (NASDAQ:MSTR) was up 7.8% during trading on Friday . The stock traded as high as $355.80 and last traded at $351.88. Approximately 10,781,721 shares changed hands during mid-day trading, a decline of 43% from the average daily volume of 18,866,801 shares. The stock had previously closed at $326.46.

Wall Street Analyst Weigh In

Several research analysts have commented on MSTR shares. Barclays raised their target price on MicroStrategy from $275.00 to $515.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. TD Cowen lifted their price target on MicroStrategy from $392.00 to $525.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Canaccord Genuity Group lifted their price target on MicroStrategy from $300.00 to $510.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Benchmark lifted their price target on MicroStrategy from $450.00 to $650.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, BTIG Research lifted their price target on MicroStrategy from $290.00 to $570.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $479.25.

MicroStrategy Trading Up 11.6 %

The company has a market capitalization of $73.80 billion, a PE ratio of -172.85 and a beta of 3.17. 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 stock has a fifty day moving average of $321.05 and a two-hundred day moving average of $208.27.

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

Insider Activity at MicroStrategy

In other MicroStrategy news, Director Stephen X. Graham sold 20,000 shares of MicroStrategy stock in a transaction that occurred on 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 transaction, the director now directly owns 6,970 shares of the company’s stock, valued at $3,145,979.20. The trade was a 74.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jeanine Montgomery sold 56,250 shares of MicroStrategy stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $257.41, for a total value of $14,479,312.50. Following the completion of the transaction, the chief accounting officer now directly owns 5,670 shares in the company, valued at $1,459,514.70. This trade represents a 90.84 % 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 valued at $32,259,177. Corporate insiders own 13.18% of the company’s stock.

Hedge Funds Weigh In On MicroStrategy

A number of large investors have recently bought and sold shares of the stock. National Bank of Canada FI increased its stake in shares of MicroStrategy by 746.2% during the third quarter. National Bank of Canada FI now owns 20,647 shares of the software maker’s stock valued at $3,481,000 after buying an additional 18,207 shares during the period. Wellington Management Group LLP increased its stake in shares of MicroStrategy by 979.8% during the third quarter. Wellington Management Group LLP now owns 6,727 shares of the software maker’s stock valued at $1,134,000 after buying an additional 6,104 shares during the period. US Bancorp DE increased its stake in shares of MicroStrategy by 782.8% during the third quarter. US Bancorp DE now owns 4,255 shares of the software maker’s stock valued at $717,000 after buying an additional 3,773 shares during the period. Virtu Financial LLC increased its stake in shares of MicroStrategy by 10,398.4% during the third quarter. Virtu Financial LLC now owns 224,245 shares of the software maker’s stock valued at $37,808,000 after buying an additional 222,109 shares during the period. Finally, Freedom Investment Management Inc. purchased a new position in shares of MicroStrategy during the third quarter valued at approximately $737,000. 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.