Independent Advisor Alliance Grows Stock Position in MicroStrategy Incorporated (NASDAQ:MSTR)

Independent Advisor Alliance increased its holdings in MicroStrategy Incorporated (NASDAQ:MSTR) by 1,234.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 39,893 shares of the software maker’s stock after purchasing an additional 36,904 shares during the quarter. Independent Advisor Alliance’s holdings in MicroStrategy were worth $6,726,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in shares of MicroStrategy by 587.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 664,261 shares of the software maker’s stock worth $111,994,000 after purchasing an additional 567,628 shares during the last quarter. Swiss National Bank raised its stake in shares of MicroStrategy by 904.7% in the 3rd quarter. Swiss National Bank now owns 468,200 shares of the software maker’s stock valued at $78,939,000 after acquiring an additional 421,600 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of MicroStrategy by 1,077.0% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 343,164 shares of the software maker’s stock worth $57,857,000 after acquiring an additional 314,007 shares during the last quarter. International Assets Investment Management LLC raised its position in MicroStrategy by 224,965.1% in the third quarter. International Assets Investment Management LLC now owns 238,569 shares of the software maker’s stock valued at $40,223,000 after purchasing an additional 238,463 shares during the period. Finally, National Pension Service raised its holdings in shares of MicroStrategy by 900.0% in the 3rd quarter. National Pension Service now owns 245,000 shares of the software maker’s stock valued at $41,307,000 after buying an additional 220,500 shares during the period. Institutional investors and hedge funds own 72.03% of the company’s stock.

MicroStrategy Price Performance

MicroStrategy stock opened at $421.88 on Monday. MicroStrategy Incorporated has a 52 week low of $43.87 and a 52 week high of $543.00. 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 firm’s 50-day simple moving average is $233.68 and its 200 day simple moving average is $176.63.

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

Analyst Ratings Changes

MSTR has been the subject of a number of analyst reports. TD Cowen boosted their target price on shares of MicroStrategy from $200.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Barclays upped their price target on shares of MicroStrategy from $225.00 to $275.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Maxim Group lifted their target price on MicroStrategy from $193.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Canaccord Genuity Group increased their price target on shares of MicroStrategy from $173.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Benchmark boosted their target price on MicroStrategy from $300.00 to $450.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, MicroStrategy has an average rating of “Moderate Buy” and an average price target of $331.13.

Insider Activity at MicroStrategy

In related news, CFO Andrew Kang sold 5,700 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $257.15, for a total transaction of $1,465,755.00. Following the completion of the transaction, the chief financial officer now owns 12,080 shares of the company’s stock, valued at approximately $3,106,372. This represents a 32.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Jeanine Montgomery sold 56,250 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $257.41, for a total transaction of $14,479,312.50. Following the sale, the chief accounting officer now directly owns 5,670 shares of the company’s stock, valued at $1,459,514.70. This represents a 90.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 82,000 shares of company stock valued at $23,231,977. Company insiders own 13.18% 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.