Arizona State Retirement System Lowers Stake in Strategy Inc $MSTR

Arizona State Retirement System lowered its stake in shares of Strategy Inc (NASDAQ:MSTR) by 4.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 72,607 shares of the software maker’s stock after selling 3,631 shares during the period. Arizona State Retirement System’s holdings in Strategy were worth $11,033,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MSTR. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Strategy during the 3rd quarter valued at $32,000. Quent Capital LLC purchased a new stake in shares of Strategy during the 3rd quarter valued at $33,000. Binnacle Investments Inc lifted its holdings in shares of Strategy by 492.9% during the 2nd quarter. Binnacle Investments Inc now owns 83 shares of the software maker’s stock valued at $34,000 after purchasing an additional 69 shares during the last quarter. SOA Wealth Advisors LLC. lifted its holdings in shares of Strategy by 44.4% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 117 shares of the software maker’s stock valued at $38,000 after purchasing an additional 36 shares during the last quarter. Finally, City State Bank lifted its holdings in shares of Strategy by 354.5% during the 4th quarter. City State Bank now owns 250 shares of the software maker’s stock valued at $38,000 after purchasing an additional 195 shares during the last quarter. Hedge funds and other institutional investors own 59.84% of the company’s stock.

Key Stories Impacting Strategy

Here are the key news stories impacting Strategy this week:

• Positive Sentiment: Major treasury buy — Strategy disclosed a ~34,164 BTC purchase (~US$2.54B), lifting its corporate bitcoin holdings above 800k BTC and overtaking BlackRock’s IBIT as the largest institutional holder; this is the primary bullish catalyst supporting MSTR as a bitcoin‑proxy trade. Strategy (MSTR) Is Up 15.8% After Record US$2.54B Bitcoin Buy
• Positive Sentiment: Institutional flows & endorsements — Reports of large institutional purchases (e.g., Capital Group) and continued ETF inflows into BTC have supported investor appetite for MSTR equity as a levered bitcoin exposure. Capital Group Is Doubling Down on MicroStrategy
• Positive Sentiment: Bitcoin market tailwind — BTC’s rally into the mid/high‑$70k area is mechanically boosting MSTR (high correlation); on‑chain data show net accumulation by long‑term holders and institutions, reinforcing the thesis. Strategy stock beats Bitcoin after rising 25% in a month
• Neutral Sentiment: Analyst coverage & positioning — Some brokers raised price targets (B. Riley, Cantor Fitzgerald), and commentary framing MSTR as a leveraged‑BTC vehicle influences sentiment but does not change on‑chain reserves or cash flows. Analyst revamps Strategy price target
• Negative Sentiment: Funding and execution risk — The company has funded large BTC purchases largely via equity and the STRC perpetual preferred program; that raises financing cost, dilution and cadence risk if STRC pricing weakens or market financing tightens. STRC Buys 10X More Bitcoin Than All ETFs in 2026
• Negative Sentiment: Public criticism & headline risk — High‑profile critics (e.g., Peter Schiff) and media stories labeling STRC as risky have created reputational/headline volatility that can sap momentum even when BTC is rising. Peter Schiff Labels STRC ‘Ponzi’
• Negative Sentiment: Operational signals — Small director share sales were disclosed this week, adding to near‑term noise; regulators/market participants will watch STRC pricing and equity issuance carefully. Insider selling filing

Wall Street Analysts Forecast Growth

Several analysts have recently commented on MSTR shares. HC Wainwright reiterated a “buy” rating on shares of Strategy in a report on Friday, February 6th. Cantor Fitzgerald set a $212.00 price objective on Strategy and gave the company an “overweight” rating in a report on Tuesday. Truist Financial set a $268.00 price objective on Strategy in a report on Friday, January 9th. Texas Capital upgraded Strategy to a “strong-buy” rating in a report on Thursday, March 19th. Finally, B. Riley Financial increased their price objective on Strategy from $175.00 to $188.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Strategy presently has an average rating of “Moderate Buy” and a consensus target price of $327.00.

Strategy Price Performance

NASDAQ MSTR opened at $171.02 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 5.62 and a quick ratio of 5.62. The stock’s fifty day moving average price is $137.90 and its 200 day moving average price is $175.56. Strategy Inc has a 1 year low of $104.17 and a 1 year high of $457.22. The company has a market cap of $57.08 billion, a price-to-earnings ratio of -9.29 and a beta of 3.55.

Strategy (NASDAQ:MSTR) last released its earnings results on Thursday, February 5th. The software maker reported ($42.93) earnings per share (EPS) for the quarter, missing the consensus estimate of $46.02 by ($88.95). Strategy had a negative net margin of 806.34% and a negative return on equity of 8.74%. The firm had revenue of $122.99 million during the quarter, compared to analyst estimates of $117.42 million. During the same period in the previous year, the company earned ($3.03) earnings per share. Strategy’s revenue was up 1.9% on a year-over-year basis. As a group, equities research analysts forecast that Strategy Inc will post 136.35 earnings per share for the current year.

Insider Activity at Strategy

In other Strategy news, CFO Andrew Kang sold 2,373 shares of the stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $138.33, for a total transaction of $328,257.09. Following the sale, the chief financial officer directly owned 26,772 shares of the company’s stock, valued at approximately $3,703,370.76. This trade represents a 8.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Phong Le sold 3,299 shares of the stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $138.33, for a total value of $456,350.67. Following the sale, the chief executive officer directly owned 22,923 shares in the company, valued at $3,170,938.59. This represents a 12.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 21,452 shares of company stock valued at $3,031,314 in the last ninety days. Company insiders own 8.46% of the company’s stock.

About Strategy

Strategy, formerly known as MicroStrategy, Incorporated (NASDAQ: MSTR) is a global provider of enterprise analytics and mobility software. The company’s flagship platform offers business intelligence, data discovery, and advanced visualizations that enable organizations to analyze large volumes of data and deliver actionable insights. In addition to traditional on-premises deployments, Strategy provides a range of cloud-based services and managed offerings that allow customers to leverage the power of its analytics tools without managing complex infrastructure.

Founded in 1989 by Michael J.