Empower Advisory Group LLC Invests $231,000 in MicroStrategy Incorporated (NASDAQ:MSTR)

Empower Advisory Group LLC purchased a new position in shares of MicroStrategy Incorporated (NASDAQ:MSTR) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,371 shares of the software maker’s stock, valued at approximately $231,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Signaturefd LLC boosted its position in shares of MicroStrategy by 13.6% during the 2nd quarter. Signaturefd LLC now owns 50 shares of the software maker’s stock worth $69,000 after purchasing an additional 6 shares during the period. GAMMA Investing LLC boosted its position in shares of MicroStrategy by 36.4% during the 2nd quarter. GAMMA Investing LLC now owns 30 shares of the software maker’s stock worth $41,000 after purchasing an additional 8 shares during the period. Cigna Investments Inc. New boosted its position in shares of MicroStrategy by 5.1% during the 2nd quarter. Cigna Investments Inc. New now owns 164 shares of the software maker’s stock worth $226,000 after purchasing an additional 8 shares during the period. Crossmark Global Holdings Inc. boosted its position in shares of MicroStrategy by 2.8% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 400 shares of the software maker’s stock worth $551,000 after purchasing an additional 11 shares during the period. Finally, Dakota Wealth Management boosted its position in shares of MicroStrategy by 0.3% during the 2nd quarter. Dakota Wealth Management now owns 4,515 shares of the software maker’s stock worth $6,219,000 after purchasing an additional 15 shares during the period. Institutional investors and hedge funds own 72.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MSTR. Cantor Fitzgerald began coverage on shares of MicroStrategy in a research report on Wednesday, August 21st. They set an “overweight” rating and a $194.00 price objective for the company. Barclays raised 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. Benchmark raised their price target on shares of MicroStrategy from $245.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. TD Cowen raised their price target on shares of MicroStrategy from $200.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Canaccord Genuity Group raised their price target on shares of MicroStrategy from $173.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $271.13.

MicroStrategy Stock Performance

NASDAQ:MSTR opened at $340.65 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.12. The company has a market cap of $69.03 billion, a P/E ratio of -161.67 and a beta of 3.05. MicroStrategy Incorporated has a fifty-two week low of $43.87 and a fifty-two week high of $383.40. The firm’s 50 day moving average is $204.83 and its two-hundred day moving average is $165.30.

MicroStrategy (NASDAQ:MSTR) last issued its earnings results on Wednesday, October 30th. The software maker reported ($1.56) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $116.07 million during the quarter, compared to analysts’ expectations of $121.45 million. During the same period in the prior year, the business posted ($8.98) EPS. The business’s revenue was down 10.3% on a year-over-year basis.

Insider Activity at MicroStrategy

In related news, EVP Wei-Ming Shao sold 3,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $141.20, for a total transaction of $423,600.00. Following the completion of the sale, the executive vice president now directly owns 6,460 shares of the company’s stock, valued at approximately $912,152. This trade represents a 31.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Andrew Kang sold 5,700 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $257.15, for a total transaction of $1,465,755.00. Following the transaction, the chief financial officer now directly 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 disclosure for this sale can be found here. In the last three months, insiders sold 134,954 shares of company stock valued at $30,553,037. Corporate insiders own 13.18% of the company’s stock.

MicroStrategy 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.