MicroStrategy (NASDAQ:MSTR) Reaches New 1-Year High After Analyst Upgrade

MicroStrategy Incorporated (NASDAQ:MSTR)’s stock price hit a new 52-week high on Tuesday after Benchmark raised their price target on the stock from $300.00 to $450.00. Benchmark currently has a buy rating on the stock. MicroStrategy traded as high as $393.00 and last traded at $393.00, with a volume of 2594225 shares traded. The stock had previously closed at $384.79.

A number of other analysts have also weighed in on the stock. Maxim Group increased their price objective on shares of MicroStrategy from $193.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Cantor Fitzgerald assumed coverage on MicroStrategy in a research report on Wednesday, August 21st. They set an “overweight” rating and a $194.00 price target on the stock. Sanford C. Bernstein reduced their price objective on MicroStrategy from $2,890.00 to $290.00 and set an “outperform” rating for the company in a research note on Wednesday, October 9th. TD Cowen upped their target price on MicroStrategy from $200.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Barclays lifted their price target on MicroStrategy from $225.00 to $275.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $289.88.

Insider Activity

In other MicroStrategy news, CAO Jeanine Montgomery sold 752 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $322.45, for a total transaction of $242,482.40. Following the completion of the transaction, the chief accounting officer now directly owns 6,418 shares in the company, valued at approximately $2,069,484.10. This represents a 10.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Phong Le sold 1,252 shares of MicroStrategy stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $322.45, for a total transaction of $403,707.40. Following the completion of the sale, the chief executive officer now owns 13,918 shares in the company, valued at approximately $4,487,859.10. This trade represents a 8.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 135,000 shares of company stock worth $30,569,577 in the last ninety days. Company insiders own 13.18% of the company’s stock.

Institutional Investors Weigh In On MicroStrategy

Several large investors have recently bought and sold shares of the company. Arete Wealth Advisors LLC raised its position in shares of MicroStrategy by 1,063.6% in the third quarter. Arete Wealth Advisors LLC now owns 10,740 shares of the software maker’s stock valued at $1,814,000 after buying an additional 9,817 shares during the last quarter. Sunbelt Securities Inc. grew its stake in MicroStrategy by 900.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 160 shares of the software maker’s stock valued at $27,000 after acquiring an additional 144 shares in the last quarter. Toronto Dominion Bank raised its holdings in MicroStrategy by 881.6% in the 3rd quarter. Toronto Dominion Bank now owns 19,809 shares of the software maker’s stock valued at $3,340,000 after acquiring an additional 17,791 shares during the last quarter. Coldstream Capital Management Inc. lifted its stake in MicroStrategy by 353.5% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,349 shares of the software maker’s stock worth $439,000 after purchasing an additional 1,831 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of MicroStrategy by 990.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,766,283 shares of the software maker’s stock worth $465,573,000 after purchasing an additional 2,512,645 shares during the last quarter. 72.03% of the stock is currently owned by hedge funds and other institutional investors.

MicroStrategy Stock Up 11.9 %

The firm has a market capitalization of $87.24 billion, a PE ratio of -204.34 and a beta of 3.05. 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 business has a 50-day moving average price of $216.04 and a 200-day moving average price of $170.24.

MicroStrategy (NASDAQ:MSTR) last posted 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). MicroStrategy had a negative return on equity of 17.31% and a negative net margin of 87.05%. The company had revenue of $116.07 million for the quarter, compared to analysts’ expectations of $121.45 million. During the same quarter in the prior year, the firm earned ($8.98) EPS. The firm’s revenue was down 10.3% on a year-over-year basis.

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.