Swiss National Bank Raises Holdings in MicroStrategy Incorporated (NASDAQ:MSTR)

Swiss National Bank raised its stake in MicroStrategy Incorporated (NASDAQ:MSTR) by 904.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 468,200 shares of the software maker’s stock after purchasing an additional 421,600 shares during the quarter. Swiss National Bank owned 0.26% of MicroStrategy worth $78,939,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in MicroStrategy during the 2nd quarter valued at $37,000. GAMMA Investing LLC boosted its holdings in shares of MicroStrategy by 36.4% during the second 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. Allspring Global Investments Holdings LLC bought a new stake in shares of MicroStrategy in the first quarter worth about $58,000. Signaturefd LLC increased its holdings in MicroStrategy by 13.6% during the 2nd quarter. Signaturefd LLC now owns 50 shares of the software maker’s stock valued at $69,000 after purchasing an additional 6 shares during the period. Finally, Strategic Investment Solutions Inc. IL bought a new position in MicroStrategy during the 2nd quarter valued at approximately $106,000. Hedge funds and other institutional investors own 72.03% of the company’s stock.

Insider Activity at MicroStrategy

In other news, CEO Phong Le sold 50,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was 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 directly owns 12,670 shares of the company’s stock, valued at $1,752,007.60. This represents a 79.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Jeanine Montgomery sold 752 shares of MicroStrategy stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $322.45, for a total value of $242,482.40. Following the completion of the sale, the chief accounting officer now owns 6,418 shares of the company’s stock, valued at $2,069,484.10. The trade was a 10.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 135,000 shares of company stock valued at $30,569,577. 13.18% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. TD Cowen boosted their target price on MicroStrategy from $200.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Benchmark upped their price objective on shares of MicroStrategy from $300.00 to $450.00 and gave the stock a “buy” rating in a report on Tuesday. Sanford C. Bernstein reduced their price target on shares of MicroStrategy from $2,890.00 to $290.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 9th. Cantor Fitzgerald initiated coverage on shares of MicroStrategy in a report on Wednesday, August 21st. They issued an “overweight” rating and a $194.00 price objective for the company. Finally, Canaccord Genuity Group upped their target price on MicroStrategy from $173.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. One investment 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, MicroStrategy currently has an average rating of “Moderate Buy” and an average price target of $289.88.

MicroStrategy Stock Performance

Shares of MSTR opened at $430.54 on Wednesday. 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 stock has a market cap of $87.24 billion, a P/E ratio of -204.34 and a beta of 3.05. The business’s 50 day moving average price is $216.04 and its 200-day moving average price is $170.24. MicroStrategy Incorporated has a 52 week low of $43.87 and a 52 week high of $449.00.

MicroStrategy (NASDAQ:MSTR) last released its 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 during 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 company’s revenue was down 10.3% compared to the same quarter last year. During the same period last year, the firm posted ($8.98) earnings per share.

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.