MicroStrategy (NASDAQ:MSTR) Shares Gap Up to $119.57

MicroStrategy Incorporated (NASDAQ:MSTR) shares gapped up prior to trading on Friday . The stock had previously closed at $119.57, but opened at $122.93. MicroStrategy shares last traded at $121.43, with a volume of 1,375,227 shares traded.

Analysts Set New Price Targets

MSTR has been the topic of several analyst reports. Sanford C. Bernstein raised MicroStrategy to a “strong-buy” rating in a research note on Friday, June 14th. Canaccord Genuity Group decreased their price target on MicroStrategy from $204.70 to $182.60 and set a “buy” rating on the stock in a report on Monday, June 24th. TD Cowen lifted their price objective on shares of MicroStrategy from $145.00 to $188.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Cantor Fitzgerald initiated coverage on shares of MicroStrategy in a research note on Wednesday, August 21st. They issued an “overweight” rating and a $194.00 target price on the stock. Finally, Barclays started coverage on shares of MicroStrategy in a research note on Friday. They set an “overweight” rating and a $146.00 price target for the company. One research analyst has rated the stock with a sell rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $198.45.

MicroStrategy Stock Performance

The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $21.28 billion, a PE ratio of -17.85 and a beta of 3.11. The firm’s 50-day simple moving average is $142.51 and its 200-day simple moving average is $141.20.

MicroStrategy (NASDAQ:MSTR) last announced its quarterly earnings results on Thursday, August 1st. The software maker reported ($0.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.48). The firm had revenue of $111.44 million during the quarter, compared to analysts’ expectations of $121.99 million. MicroStrategy had a negative net margin of 43.69% and a negative return on equity of 14.72%. The firm’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.15 EPS.

Insider Activity

In related news, CEO Phong Le sold 48,838 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $135.40, for a total value of $6,612,665.20. Following the completion of the sale, the chief executive officer now directly owns 12,670 shares of the company’s stock, valued at $1,715,518. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other MicroStrategy news, CEO Phong Le sold 48,838 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $135.40, for a total transaction of $6,612,665.20. Following the completion of the sale, the chief executive officer now owns 12,670 shares in the company, valued at $1,715,518. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Wei-Ming Shao sold 3,000 shares of MicroStrategy stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $141.20, for a total value of $423,600.00. Following the completion of the transaction, the executive vice president now owns 6,460 shares in the company, valued at $912,152. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 101,838 shares of company stock worth $13,950,265. Company insiders own 13.18% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MSTR. Signaturefd LLC lifted its position in MicroStrategy by 13.6% during the second quarter. Signaturefd LLC now owns 50 shares of the software maker’s stock valued at $69,000 after acquiring an additional 6 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of MicroStrategy by 36.4% during the 2nd quarter. GAMMA Investing LLC now owns 30 shares of the software maker’s stock valued at $41,000 after purchasing an additional 8 shares during the last quarter. Cigna Investments Inc. New lifted its holdings in shares of MicroStrategy by 5.1% during the 2nd quarter. Cigna Investments Inc. New now owns 164 shares of the software maker’s stock valued at $226,000 after purchasing an additional 8 shares during the last quarter. Crossmark Global Holdings Inc. boosted its position in shares of MicroStrategy by 2.8% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 400 shares of the software maker’s stock worth $551,000 after purchasing an additional 11 shares in the last quarter. Finally, Rise Advisors LLC grew its stake in MicroStrategy by 233.3% during the 1st quarter. Rise Advisors LLC now owns 20 shares of the software maker’s stock worth $34,000 after buying an additional 14 shares during the last quarter. Hedge funds and other institutional investors own 72.03% of the company’s stock.

MicroStrategy Company Profile

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.