MicroStrategy (NASDAQ:MSTR) Trading Down 4.4% – Here’s What Happened

MicroStrategy Incorporated (NASDAQ:MSTR) was down 4.4% during mid-day trading on Tuesday . The stock traded as low as $387.93 and last traded at $390.60. Approximately 8,399,980 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 18,791,889 shares. The stock had previously closed at $408.50.

Analysts Set New Price Targets

Several research analysts have commented on the company. TD Cowen raised their price objective on MicroStrategy from $392.00 to $525.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Benchmark boosted their price target on MicroStrategy from $450.00 to $650.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Cantor Fitzgerald started coverage on MicroStrategy in a report on Wednesday, August 21st. They issued an “overweight” rating and a $194.00 price target for the company. Barclays lifted their price objective on shares of MicroStrategy from $275.00 to $515.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Finally, Canaccord Genuity Group raised their price target on shares of MicroStrategy from $300.00 to $510.00 and gave the company a “buy” rating in a report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $479.25.

MicroStrategy Stock Down 6.6 %

The stock has a market capitalization of $66.16 billion, a P/E ratio of -154.94 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’s 50 day simple moving average is $315.16 and its 200 day simple moving average is $206.03.

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

Insider Transactions at MicroStrategy

In other news, CAO Jeanine Montgomery sold 56,250 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $257.41, for a total transaction of $14,479,312.50. Following the completion of the transaction, the chief accounting officer now directly owns 5,670 shares of the company’s stock, valued at approximately $1,459,514.70. This represents a 90.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Andrew Kang sold 5,700 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $257.15, for a total value of $1,465,755.00. Following the completion of the sale, the chief financial officer now directly owns 12,080 shares in the company, valued at approximately $3,106,372. This trade represents a 32.06 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 102,000 shares of company stock worth $32,259,177. 13.18% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MicroStrategy

Large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its position in shares of MicroStrategy by 990.6% during the third quarter. Geode Capital Management LLC now owns 2,766,283 shares of the software maker’s stock worth $465,573,000 after acquiring an additional 2,512,645 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in MicroStrategy by 971.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 639,707 shares of the software maker’s stock worth $107,855,000 after purchasing an additional 579,994 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of MicroStrategy by 587.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 664,261 shares of the software maker’s stock valued at $111,994,000 after purchasing an additional 567,628 shares during the period. Swiss National Bank raised its holdings in shares of MicroStrategy by 904.7% during the third quarter. Swiss National Bank now owns 468,200 shares of the software maker’s stock valued at $78,939,000 after buying an additional 421,600 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of MicroStrategy by 1,077.0% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 343,164 shares of the software maker’s stock worth $57,857,000 after buying an additional 314,007 shares during the period. 59.84% of the stock is owned by institutional investors and hedge funds.

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.