Associated Banc Corp Increases Stock Holdings in MicroStrategy Incorporated (NASDAQ:MSTR)

Associated Banc Corp boosted its position in shares of MicroStrategy Incorporated (NASDAQ:MSTR) by 900.0% during the third quarter, Holdings Channel.com reports. The firm owned 2,350 shares of the software maker’s stock after buying an additional 2,115 shares during the quarter. Associated Banc Corp’s holdings in MicroStrategy were worth $396,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Private Trust Co. NA grew its holdings in shares of MicroStrategy by 750.0% during the 3rd quarter. Private Trust Co. NA now owns 204 shares of the software maker’s stock worth $34,000 after purchasing an additional 180 shares during the period. Horizon Kinetics Asset Management LLC increased its position in shares of MicroStrategy by 924.1% during the third quarter. Horizon Kinetics Asset Management LLC now owns 192,905 shares of the software maker’s stock valued at $32,524,000 after acquiring an additional 174,069 shares during the last quarter. DRW Securities LLC lifted its holdings in shares of MicroStrategy by 121.9% in the 3rd quarter. DRW Securities LLC now owns 4,649 shares of the software maker’s stock worth $784,000 after acquiring an additional 2,554 shares during the last quarter. Independent Advisor Alliance boosted its position in shares of MicroStrategy by 1,234.7% during the 3rd quarter. Independent Advisor Alliance now owns 39,893 shares of the software maker’s stock worth $6,726,000 after purchasing an additional 36,904 shares during the period. Finally, Harvest Fund Management Co. Ltd increased its holdings in MicroStrategy by 101.8% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 456 shares of the software maker’s stock valued at $77,000 after purchasing an additional 230 shares during the last quarter. Hedge funds and other institutional investors own 72.03% of the company’s stock.

Insider Activity at MicroStrategy

In related news, CAO Jeanine Montgomery sold 752 shares of MicroStrategy stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $322.45, for a total value of $242,482.40. Following the sale, the chief accounting officer now directly owns 6,418 shares in the company, valued at $2,069,484.10. The trade was a 10.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen X. Graham sold 20,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $451.36, for a total transaction of $9,027,200.00. Following the completion of the sale, the director now owns 6,970 shares of the company’s stock, valued at $3,145,979.20. This trade represents a 74.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 102,000 shares of company stock valued at $32,259,177 in the last ninety days. Insiders own 13.18% of the company’s stock.

Wall Street Analysts Forecast Growth

MSTR has been the subject of several research analyst reports. TD Cowen raised their price target on MicroStrategy from $392.00 to $525.00 and gave the stock a “buy” rating in a research report on Monday. Maxim Group lifted their target price on MicroStrategy from $193.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Canaccord Genuity Group increased their price target on shares of MicroStrategy from $300.00 to $510.00 and gave the stock a “buy” rating in a research report on Monday. Benchmark lifted their price objective on shares of MicroStrategy from $450.00 to $650.00 and gave the company a “buy” rating in a report on Monday. Finally, Sanford C. Bernstein increased their target price on shares of MicroStrategy from $290.00 to $600.00 and gave the stock an “outperform” rating in a report on Monday. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. According to MarketBeat, MicroStrategy currently has an average rating of “Moderate Buy” and an average target price of $479.25.

MicroStrategy Stock Performance

Shares of MSTR stock opened at $403.45 on Tuesday. The company has a market cap of $81.76 billion, a P/E ratio of -191.48 and a beta of 3.05. The firm has a fifty day moving average price of $239.06 and a 200 day moving average price of $178.58. 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 Incorporated has a 12 month low of $43.87 and a 12 month high of $543.00.

MicroStrategy (NASDAQ:MSTR) last released 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 return on equity of 17.31% and a negative net margin of 87.05%. The business had revenue of $116.07 million for the quarter, compared to analyst estimates of $121.45 million. During the same period in the prior year, the company posted ($8.98) earnings per share. The company’s revenue was down 10.3% compared to the same quarter last year.

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.