Canaccord Genuity Group Issues Pessimistic Forecast for MicroStrategy (NASDAQ:MSTR) Stock Price

MicroStrategy (NASDAQ:MSTR) had its price objective lowered by equities researchers at Canaccord Genuity Group from $510.00 to $409.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. Canaccord Genuity Group’s target price suggests a potential upside of 24.86% from the company’s current price.

MSTR has been the subject of a number of other research reports. Barclays increased their price objective on shares of MicroStrategy from $275.00 to $515.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Mizuho initiated coverage on shares of MicroStrategy in a report on Wednesday, January 29th. They issued an “outperform” rating and a $515.00 price objective for the company. Maxim Group increased their price objective on shares of MicroStrategy from $193.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Compass Point upgraded shares of MicroStrategy to a “strong-buy” rating in a report on Wednesday, January 29th. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $600.00 price target on shares of MicroStrategy in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $546.30.

MicroStrategy Trading Up 0.6 %

Shares of MicroStrategy stock opened at $327.56 on Thursday. The firm has a market capitalization of $78.50 billion, a PE ratio of -155.46 and a beta of 3.25. MicroStrategy has a twelve month low of $52.51 and a twelve month high of $543.00. The firm’s 50-day moving average price is $355.07 and its 200 day moving average price is $255.52. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.12.

MicroStrategy (NASDAQ:MSTR) last released its quarterly earnings data on Wednesday, February 5th. The software maker reported ($3.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($3.07). MicroStrategy had a negative net margin of 87.05% and a negative return on equity of 17.31%.

Insider Activity at MicroStrategy

In related news, Director Stephen X. Graham sold 20,000 shares of MicroStrategy stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $451.36, for a total value of $9,027,200.00. Following the completion of the sale, the director now owns 6,970 shares in the company, valued at approximately $3,145,979.20. This trade represents a 74.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jeanine Montgomery sold 752 shares of MicroStrategy stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $322.45, for a total transaction of $242,482.40. Following the completion of the sale, the chief accounting officer now owns 6,418 shares of the company’s stock, valued at $2,069,484.10. This trade represents a 10.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,050 shares of company stock worth $16,314,110. Insiders own 9.16% of the company’s stock.

Hedge Funds Weigh In On MicroStrategy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. National Bank of Canada FI boosted its position in MicroStrategy by 746.2% in the 3rd 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. B. Riley Wealth Advisors Inc. purchased a new position in MicroStrategy in the 3rd quarter valued at approximately $254,000. Wellington Management Group LLP boosted its position in MicroStrategy by 979.8% in the 3rd 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 boosted its position in MicroStrategy by 782.8% in the 3rd 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. Finally, Virtu Financial LLC boosted its position in MicroStrategy by 10,398.4% in the 3rd 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. Hedge funds and other 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.