MicroStrategy (NASDAQ:MSTR) Stock Price Down 1% – Here’s What Happened

Shares of MicroStrategy Incorporated (NASDAQ:MSTR) traded down 1% during trading on Thursday . The company traded as low as $345.80 and last traded at $357.02. 5,165,152 shares traded hands during trading, a decline of 72% from the average session volume of 18,768,904 shares. The stock had previously closed at $360.62.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MSTR shares. TD Cowen lifted their price target on shares of MicroStrategy from $392.00 to $525.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. 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 upped their price target on MicroStrategy from $300.00 to $510.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $600.00 price objective on shares of MicroStrategy in a research report on Thursday, December 12th. Finally, Benchmark reissued a “buy” rating and issued a $650.00 target price on shares of MicroStrategy in a report on Tuesday. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $479.25.

MicroStrategy Price Performance

The firm has a market capitalization of $86.53 billion, a P/E ratio of -171.82 and a beta of 3.25. The stock’s 50 day simple moving average is $359.42 and its 200 day simple moving average is $231.33. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.65 and a current ratio of 0.65.

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

Insider Activity

In other news, EVP Wei-Ming Shao sold 18,000 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $368.01, for a total value of $6,624,180.00. Following the completion of the transaction, the executive vice president now directly owns 6,460 shares of the company’s stock, valued at approximately $2,377,344.60. The trade was a 73.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Jeanine Montgomery sold 56,250 shares of the business’s stock in a transaction dated 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 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. In the last quarter, insiders sold 102,000 shares of company stock worth $32,259,177. 9.16% of the stock is currently owned by corporate insiders.

Institutional Trading of MicroStrategy

Institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its stake 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 buying an additional 2,512,645 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in MicroStrategy by 971.3% during 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 acquiring an additional 579,994 shares during the period. Charles Schwab Investment Management Inc. grew its stake in MicroStrategy by 587.4% during the 3rd 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 last quarter. Swiss National Bank increased its holdings in shares of MicroStrategy by 904.7% in the third quarter. Swiss National Bank now owns 468,200 shares of the software maker’s stock valued at $78,939,000 after purchasing an additional 421,600 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of MicroStrategy by 1,077.0% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 343,164 shares of the software maker’s stock worth $57,857,000 after purchasing an additional 314,007 shares during the last quarter. 59.84% of the stock is currently owned by institutional investors and hedge funds.

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.