Summit Financial LLC Buys Shares of 774 MicroStrategy Incorporated (NASDAQ:MSTR)

Summit Financial LLC bought a new position in MicroStrategy Incorporated (NASDAQ:MSTR) in the 4th quarter, HoldingsChannel reports. The fund bought 774 shares of the software maker’s stock, valued at approximately $224,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC boosted its position in 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 acquiring an additional 2,512,645 shares during the period. Norges Bank acquired a new stake in shares of MicroStrategy during the fourth quarter worth approximately $523,981,000. Amundi grew its position in MicroStrategy by 262.8% during the fourth quarter. Amundi now owns 570,217 shares of the software maker’s stock valued at $165,146,000 after purchasing an additional 413,028 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in MicroStrategy in the 4th quarter valued at approximately $81,783,000. Finally, Virtu Financial LLC lifted its position in MicroStrategy by 10,398.4% in the 3rd quarter. Virtu Financial LLC now owns 224,245 shares of the software maker’s stock worth $37,808,000 after buying an additional 222,109 shares in the last quarter. Hedge funds and other institutional investors own 59.84% of the company’s stock.

Insider Buying and Selling

In other MicroStrategy news, EVP Wei-Ming Shao purchased 500 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now directly owns 500 shares in the company, valued at approximately $42,500. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Jeanine Montgomery sold 481 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $329.27, for a total value of $158,378.87. Following the completion of the sale, the chief accounting officer now directly owns 7,805 shares of the company’s stock, valued at $2,569,952.35. This represents a 5.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 8,000 shares of company stock valued at $680,000 and sold 22,998 shares valued at $7,671,926. 9.16% of the stock is owned by insiders.

MicroStrategy Trading Up 4.0 %

Shares of MSTR stock opened at $293.61 on Friday. MicroStrategy Incorporated has a 12 month low of $101.00 and a 12 month high of $543.00. The company has a market cap of $75.56 billion, a PE ratio of -52.12 and a beta of 3.36. The company has a quick ratio of 0.65, a current ratio of 0.71 and a debt-to-equity ratio of 0.39. The business’s 50 day moving average is $305.50 and its two-hundred day moving average is $299.41.

MicroStrategy (NASDAQ:MSTR) last announced its earnings results on Wednesday, February 5th. The software maker reported ($3.20) 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%.

Analyst Ratings Changes

Several research firms have recently commented on MSTR. Maxim Group boosted their price target on shares of MicroStrategy from $480.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Cantor Fitzgerald boosted their target price on MicroStrategy from $613.00 to $619.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Keefe, Bruyette & Woods initiated coverage on MicroStrategy in a research report on Friday, February 7th. They issued an “outperform” rating and a $560.00 target price on the stock. Compass Point upgraded MicroStrategy to a “strong-buy” rating in a report on Wednesday, January 29th. Finally, Canaccord Genuity Group dropped their price objective on MicroStrategy from $510.00 to $409.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $508.09.

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.