MicroStrategy (NASDAQ:MSTR) Stock Price Down 2% – Here’s What Happened

Shares of MicroStrategy Incorporated (NASDAQ:MSTR) traded down 2% during trading on Wednesday . The company traded as low as $325.82 and last traded at $335.01. 6,450,641 shares were traded during mid-day trading, a decline of 64% from the average session volume of 17,897,928 shares. The stock had previously closed at $341.81.

Wall Street Analyst Weigh In

MSTR has been the topic of several recent analyst reports. Sanford C. Bernstein reiterated an “outperform” rating and issued a $600.00 price target on shares of MicroStrategy in a report on Thursday, December 12th. Benchmark reiterated a “buy” rating and set a $650.00 price target on shares of MicroStrategy in a research report on Tuesday, January 14th. Cantor Fitzgerald raised their price objective on shares of MicroStrategy from $613.00 to $619.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Barclays cut their price objective on MicroStrategy from $515.00 to $421.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Finally, Maxim Group raised their target price on MicroStrategy from $480.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $536.90.

MicroStrategy Stock Down 3.4 %

The company has a debt-to-equity ratio of 0.39, a current ratio of 0.71 and a quick ratio of 0.65. The stock has a 50 day simple moving average of $317.25 and a 200-day simple moving average of $292.11. The firm has a market cap of $84.95 billion, a PE ratio of -58.67 and a beta of 3.36.

MicroStrategy (NASDAQ:MSTR) last posted its quarterly earnings results on Wednesday, February 5th. The software maker reported ($3.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($3.07). MicroStrategy had a negative return on equity of 19.01% and a negative net margin of 251.73%.

Insider Activity at MicroStrategy

In other MicroStrategy news, CFO Andrew Kang bought 1,500 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was acquired at an average price of $85.00 per share, with a total value of $127,500.00. Following the transaction, the chief financial officer now owns 1,500 shares in the company, valued at $127,500. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Wei-Ming Shao acquired 500 shares of the firm’s stock in a transaction dated Thursday, March 20th. The shares were bought at an average cost of $85.00 per share, with a total value of $42,500.00. Following the completion of the acquisition, the executive vice president now directly owns 500 shares of the company’s stock, valued at $42,500. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 8,000 shares of company stock valued at $680,000 over the last 90 days. Corporate insiders own 9.16% of the company’s stock.

Institutional Investors Weigh In On MicroStrategy

Several hedge funds and other institutional investors have recently made changes to their positions in MSTR. Quadrant Capital Group LLC increased its holdings in MicroStrategy by 855.6% during the fourth quarter. Quadrant Capital Group LLC now owns 86 shares of the software maker’s stock valued at $25,000 after buying an additional 77 shares during the last quarter. Riverview Trust Co purchased a new stake in shares of MicroStrategy in the 4th quarter worth $25,000. IAG Wealth Partners LLC bought a new position in MicroStrategy in the 4th quarter worth $25,000. Dunhill Financial LLC purchased a new position in MicroStrategy during the fourth quarter valued at $26,000. Finally, Safe Harbor Fiduciary LLC grew its holdings in MicroStrategy by 820.0% during the fourth quarter. Safe Harbor Fiduciary LLC now owns 92 shares of the software maker’s stock valued at $27,000 after purchasing an additional 82 shares during the period. Hedge funds and other institutional investors own 59.84% of the company’s stock.

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.