MicroStrategy (NASDAQ:MSTR) Price Target Raised to $680.00

MicroStrategy (NASDAQ:MSTR) had its target price lifted by TD Cowen from $590.00 to $680.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the software maker’s stock.

Several other brokerages have also recently issued reports on MSTR. UBS Group restated a “buy” rating on shares of MicroStrategy in a research report on Friday, May 16th. Barclays reissued a “hold” rating on shares of MicroStrategy in a report on Monday, May 19th. HC Wainwright initiated coverage on MicroStrategy in a research note on Tuesday, April 29th. They set a “buy” rating and a $480.00 price target for the company. Monness Crespi & Hardt lowered shares of MicroStrategy from a “neutral” rating to a “sell” rating and set a $220.00 price objective on the stock. in a research report on Tuesday, April 1st. Finally, Canaccord Genuity Group reissued a “buy” rating on shares of MicroStrategy in a research note on Monday, May 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, MicroStrategy currently has an average rating of “Moderate Buy” and an average target price of $525.67.

MicroStrategy Trading Down 1.0%

MSTR opened at $451.34 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.25. MicroStrategy has a 52 week low of $102.40 and a 52 week high of $543.00. The business’s 50 day moving average is $394.75 and its two-hundred day moving average is $347.02. The firm has a market cap of $123.40 billion, a price-to-earnings ratio of -20.69 and a beta of 3.70.

MicroStrategy (NASDAQ:MSTR) last released its quarterly earnings results on Thursday, May 1st. The software maker reported ($16.49) EPS for the quarter, missing the consensus estimate of ($0.02) by ($16.47). MicroStrategy had a negative net margin of 1,160.72% and a negative return on equity of 37.64%. The business had revenue of $111.07 million during the quarter, compared to analysts’ expectations of $116.66 million. During the same quarter last year, the company earned ($0.83) EPS. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year.

Insider Activity

In related news, Director Jarrod M. Patten bought 5,000 shares of the company’s stock in a transaction on Thursday, June 5th. The stock was bought at an average cost of $85.00 per share, with a total value of $425,000.00. Following the completion of the acquisition, the director owned 5,000 shares in the company, valued at approximately $425,000. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Wei-Ming Shao sold 10,900 shares of the company’s stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $448.89, for a total value of $4,892,901.00. Following the completion of the sale, the executive vice president owned 12,726 shares in the company, valued at approximately $5,712,574.14. This represents a 46.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have bought 25,277 shares of company stock valued at $2,312,345 and have sold 177,771 shares valued at $72,254,318. Corporate insiders own 8.46% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new stake in MicroStrategy in the 4th quarter valued at about $523,981,000. First Trust Advisors LP grew its position in shares of MicroStrategy by 266.1% in the fourth quarter. First Trust Advisors LP now owns 417,574 shares of the software maker’s stock valued at $120,938,000 after purchasing an additional 303,517 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of MicroStrategy by 10.2% during the 4th quarter. Geode Capital Management LLC now owns 3,047,625 shares of the software maker’s stock worth $881,470,000 after purchasing an additional 281,342 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of MicroStrategy by 42,473.7% during the 1st quarter. GAMMA Investing LLC now owns 239,264 shares of the software maker’s stock worth $68,973,000 after purchasing an additional 238,702 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of MicroStrategy by 24.4% during the 4th quarter. Northern Trust Corp now owns 1,076,185 shares of the software maker’s stock worth $311,685,000 after purchasing an additional 210,997 shares during the last quarter. Hedge funds and other institutional investors own 59.84% of the company’s stock.

About MicroStrategy

Strategy Incorporated, formerly known as MicroStrategy, provides artificial intelligence-powered enterprise analytics software and services in the United States, Europe, the Middle East, Africa, and internationally. It offers Strategy ONE, a platform that allows non-technical users to access novel and actionable insights for decision-making, and Strategy Cloud for Government, which provides always-on threat monitoring designed to meet the strict technical and regulatory standards of governments and financial institutions.