Bank of New York Mellon Corp Sells 398,913 Shares of MicroStrategy Incorporated (NASDAQ:MSTR)

Bank of New York Mellon Corp trimmed its holdings in shares of MicroStrategy Incorporated (NASDAQ:MSTR) by 90.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 41,870 shares of the software maker’s stock after selling 398,913 shares during the period. Bank of New York Mellon Corp owned approximately 0.32% of MicroStrategy worth $12,239,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in MSTR. MetLife Investment Management LLC increased its position in MicroStrategy by 71.6% during the 1st quarter. MetLife Investment Management LLC now owns 4,978 shares of the software maker’s stock valued at $2,421,000 after buying an additional 2,077 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of MicroStrategy by 11.1% during the first quarter. Rhumbline Advisers now owns 10,810 shares of the software maker’s stock valued at $5,257,000 after acquiring an additional 1,078 shares in the last quarter. Blair William & Co. IL purchased a new position in shares of MicroStrategy in the 1st quarter worth about $235,000. Moors & Cabot Inc. raised its holdings in MicroStrategy by 22.3% in the first quarter. Moors & Cabot Inc. now owns 1,563 shares of the software maker’s stock worth $760,000 after buying an additional 285 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of MicroStrategy by 36.4% in the first quarter. Vanguard Group Inc. now owns 888,222 shares of the software maker’s stock worth $431,960,000 after buying an additional 237,109 shares in the last quarter. 49.44% of the stock is currently owned by hedge funds and other institutional investors.

MicroStrategy Trading Down 3.8 %

Shares of NASDAQ:MSTR opened at $357.53 on Friday. The stock has a 50 day moving average of $385.55 and a 200 day moving average of $318.96. The company has a market cap of $5.04 billion, a PE ratio of 39.77 and a beta of 2.44. MicroStrategy Incorporated has a 12-month low of $132.56 and a 12-month high of $475.09. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 2.66.

MicroStrategy (NASDAQ:MSTR) last announced its quarterly earnings data on Tuesday, August 1st. The software maker reported $2.35 EPS for the quarter, beating the consensus estimate of $0.72 by $1.63. The firm had revenue of $120.40 million for the quarter, compared to the consensus estimate of $124.85 million. MicroStrategy had a net margin of 41.32% and a return on equity of 140.01%. As a group, equities research analysts expect that MicroStrategy Incorporated will post 28.88 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. TD Cowen initiated coverage on MicroStrategy in a research report on Wednesday, July 26th. They issued an “outperform” rating and a $520.00 price objective on the stock. StockNews.com started coverage on shares of MicroStrategy in a research report on Thursday, August 17th. They set a “sell” rating on the stock. Finally, BTIG Research initiated coverage on MicroStrategy in a report on Tuesday, July 11th. They issued a “buy” rating and a $490.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $390.00.

Insider Activity

In related news, CEO Phong Le sold 10,000 shares of the stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $295.66, for a total transaction of $2,956,600.00. Following the completion of the sale, the chief executive officer now owns 458 shares in the company, valued at $135,412.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Phong Le sold 10,000 shares of the company’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $295.66, for a total transaction of $2,956,600.00. Following the completion of the transaction, the chief executive officer now owns 458 shares in the company, valued at $135,412.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jarrod M. Patten sold 500 shares of MicroStrategy stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $393.11, for a total transaction of $196,555.00. The disclosure for this sale can be found here. Insiders have sold 20,950 shares of company stock worth $6,336,828 over the last ninety days. Corporate insiders own 22.59% of the company’s stock.

MicroStrategy Company Profile

MicroStrategy Incorporated provides enterprise analytics software and services in the United States, Canada, Europe, the Middle East, Africa, and internationally. It offers MicroStrategy, an enterprise analytics software platform that enables users to create visualizations, customize apps, and embed analytics directly into workflows; and MicroStrategy Cloud Environment, a managed software-as-a-service solution, which offers always-on threat monitoring and enables rapid analytics development and deployment to deliver security and data privacy requirements.