MicroStrategy (NASDAQ:MSTR) Stock Price Down 2% After Insider Selling

MicroStrategy Incorporated (NASDAQ:MSTR) shares were down 2% on Wednesday after an insider sold shares in the company. The stock traded as low as $325.82 and last traded at $335.01. Approximately 6,450,641 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 17,897,928 shares. The stock had previously closed at $341.81.

Specifically, Director Leslie J. Rechan sold 15,000 shares of the company’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $335.90, for a total value of $5,038,500.00. Following the completion of the sale, the director now directly owns 4,970 shares of the company’s stock, valued at approximately $1,669,423. This represents a 75.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrew Kang sold 2,185 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $329.26, for a total value of $719,433.10. Following the completion of the transaction, the chief financial officer now owns 15,215 shares in the company, valued at $5,009,690.90. This trade represents a 12.56 % decrease in their position. The disclosure for this sale can be found here. In other MicroStrategy news, EVP Wei-Ming Shao sold 2,051 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $329.26, for a total transaction of $675,312.26. Following the completion of the sale, the executive vice president now directly owns 10,597 shares of the company’s stock, valued at approximately $3,489,168.22. This trade represents a 16.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

MSTR has been the subject of several analyst reports. Keefe, Bruyette & Woods initiated coverage on MicroStrategy in a research note on Friday, February 7th. They set an “outperform” rating and a $560.00 price target for the company. Maxim Group increased their target price on MicroStrategy from $480.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Sanford C. Bernstein reissued an “outperform” rating and issued a $600.00 price target on shares of MicroStrategy in a report on Thursday, December 12th. Monness Crespi & Hardt initiated coverage on MicroStrategy in a report on Wednesday, March 19th. They set a “neutral” rating on the stock. Finally, Compass Point upgraded MicroStrategy to a “strong-buy” rating in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $536.90.

MicroStrategy Price Performance

The company has a 50-day moving average of $315.78 and a two-hundred day moving average of $292.60. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.71 and a quick ratio of 0.65. The stock has a market capitalization of $74.48 billion, a PE ratio of -51.38 and a beta of 3.36.

MicroStrategy (NASDAQ:MSTR) last announced its quarterly earnings data on Wednesday, February 5th. The software maker reported ($3.20) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($3.07). MicroStrategy had a negative return on equity of 19.01% and a negative net margin of 251.73%.

Institutional Trading of MicroStrategy

A number of hedge funds and other institutional investors have recently modified their holdings of MSTR. National Bank of Canada FI raised its position in shares of 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 purchasing an additional 18,207 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of MicroStrategy in the fourth quarter worth $81,783,000. Clarity Capital Partners LLC raised its holdings in MicroStrategy by 122.3% in the fourth quarter. Clarity Capital Partners LLC now owns 25,115 shares of the software maker’s stock valued at $7,274,000 after acquiring an additional 13,817 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new position in MicroStrategy during the 3rd quarter valued at $254,000. Finally, Wellington Management Group LLP grew its holdings in MicroStrategy by 979.8% during the 3rd quarter. Wellington Management Group LLP now owns 6,727 shares of the software maker’s stock worth $1,134,000 after acquiring an additional 6,104 shares in the last quarter. 59.84% of the stock is owned by hedge funds and other 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.