Canaccord Genuity Group Trims MicroStrategy (NASDAQ:MSTR) Target Price to $173.00

MicroStrategy (NASDAQ:MSTR) had its price objective decreased by Canaccord Genuity Group from $185.00 to $173.00 in a research note published on Monday, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the software maker’s stock.

MSTR has been the subject of several other reports. Maxim Group lifted their target price on shares of MicroStrategy from $183.50 to $193.00 and gave the company a buy rating in a report on Friday, August 2nd. Barclays began coverage on MicroStrategy in a research note on Friday, September 6th. They set an overweight rating and a $146.00 price objective for the company. Benchmark boosted their target price on MicroStrategy from $187.50 to $215.00 and gave the stock a buy rating in a report on Friday, August 2nd. Cantor Fitzgerald assumed coverage on MicroStrategy in a report on Wednesday, August 21st. They set an overweight rating and a $194.00 price target for the company. Finally, TD Cowen upped their price target on shares of MicroStrategy from $145.00 to $188.00 and gave the stock a buy rating in a research note on Friday, June 21st. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, MicroStrategy has a consensus rating of Moderate Buy and a consensus target price of $197.25.

MicroStrategy Stock Up 9.0 %

Shares of NASDAQ:MSTR opened at $144.66 on Monday. The firm has a market capitalization of $25.66 billion, a P/E ratio of -22.06 and a beta of 3.10. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.47 and a current ratio of 0.47. The stock has a 50 day moving average price of $142.19 and a 200-day moving average price of $144.62. MicroStrategy has a 52-week low of $30.71 and a 52-week high of $200.00.

MicroStrategy (NASDAQ:MSTR) last posted its quarterly earnings data on Thursday, August 1st. The software maker reported ($0.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.48). MicroStrategy had a negative return on equity of 14.72% and a negative net margin of 43.69%. The firm had revenue of $111.44 million during the quarter, compared to the consensus estimate of $121.99 million. During the same quarter last year, the company posted $0.15 EPS. MicroStrategy’s revenue for the quarter was down 7.4% compared to the same quarter last year.

Insider Buying and Selling

In other MicroStrategy news, CEO Phong Le sold 50,000 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $138.28, for a total transaction of $6,914,000.00. Following the transaction, the chief executive officer now owns 12,670 shares in the company, valued at approximately $1,752,007.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other MicroStrategy news, CEO Phong Le sold 50,000 shares of MicroStrategy stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $138.28, for a total value of $6,914,000.00. Following the completion of the sale, the chief executive officer now owns 12,670 shares of the company’s stock, valued at approximately $1,752,007.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Wei-Ming Shao sold 3,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $141.20, for a total value of $423,600.00. Following the sale, the executive vice president now owns 6,460 shares of the company’s stock, valued at approximately $912,152. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,838 shares of company stock worth $13,950,265. 13.18% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. increased its stake in shares of MicroStrategy by 10.9% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 887 shares of the software maker’s stock worth $1,222,000 after purchasing an additional 87 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of MicroStrategy in the second quarter worth $553,000. Gordian Capital Singapore Pte Ltd raised its position in shares of MicroStrategy by 2,416.7% during the 2nd quarter. Gordian Capital Singapore Pte Ltd now owns 151 shares of the software maker’s stock valued at $208,000 after purchasing an additional 145 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in shares of MicroStrategy during the 2nd quarter valued at $106,000. Finally, SRN Advisors LLC boosted its holdings in MicroStrategy by 16.1% in the 2nd quarter. SRN Advisors LLC now owns 2,122 shares of the software maker’s stock worth $2,923,000 after buying an additional 294 shares during the period. 72.03% of the stock is currently owned by institutional investors.

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.