Sumitomo Mitsui Trust Group Inc. Raises Stock Position in MicroStrategy Incorporated (NASDAQ:MSTR)

Sumitomo Mitsui Trust Group Inc. boosted its stake in MicroStrategy Incorporated (NASDAQ:MSTR) by 1,077.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 343,164 shares of the software maker’s stock after purchasing an additional 314,007 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in MicroStrategy were worth $57,857,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. US Bancorp DE grew its holdings in shares of MicroStrategy by 782.8% in the third quarter. US Bancorp DE now owns 4,255 shares of the software maker’s stock worth $717,000 after acquiring an additional 3,773 shares during the period. National Pension Service increased its position in shares of MicroStrategy by 900.0% during the 3rd quarter. National Pension Service now owns 245,000 shares of the software maker’s stock valued at $41,307,000 after purchasing an additional 220,500 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of MicroStrategy by 848.8% during the 3rd quarter. Janney Montgomery Scott LLC now owns 37,005 shares of the software maker’s stock valued at $6,239,000 after purchasing an additional 33,105 shares during the last quarter. Concurrent Investment Advisors LLC lifted its stake in shares of MicroStrategy by 1,517.4% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 3,623 shares of the software maker’s stock worth $611,000 after purchasing an additional 3,399 shares during the period. Finally, Comprehensive Financial Consultants Institutional Inc. boosted its holdings in shares of MicroStrategy by 973.5% in the third quarter. Comprehensive Financial Consultants Institutional Inc. now owns 4,380 shares of the software maker’s stock worth $738,000 after buying an additional 3,972 shares during the last quarter. 72.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MSTR has been the subject of several analyst reports. Sanford C. Bernstein reduced their price objective on MicroStrategy from $2,890.00 to $290.00 and set an “outperform” rating for the company in a research note on Wednesday, October 9th. Benchmark boosted their price objective on MicroStrategy from $245.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Cantor Fitzgerald assumed coverage on shares of MicroStrategy in a research note on Wednesday, August 21st. They set an “overweight” rating and a $194.00 target price on the stock. Barclays lifted their price target on shares of MicroStrategy from $225.00 to $275.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Finally, TD Cowen increased their price objective on shares of MicroStrategy from $200.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $271.13.

Insider Buying and Selling at MicroStrategy

In related news, EVP Wei-Ming Shao sold 3,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $912,152. This trade represents a 31.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Phong Le sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $138.28, for a total value of $6,914,000.00. Following the sale, the chief executive officer now directly owns 12,670 shares in the company, valued at $1,752,007.60. The trade was a 79.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 114,950 shares of company stock worth $23,282,668 over the last 90 days. 13.18% of the stock is owned by insiders.

MicroStrategy Price Performance

MSTR stock opened at $327.67 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.65 and a current ratio of 0.65. The company’s fifty day moving average price is $200.30 and its 200-day moving average price is $163.83. MicroStrategy Incorporated has a one year low of $43.87 and a one year high of $383.40. The company has a market capitalization of $66.40 billion, a PE ratio of -155.51 and a beta of 3.05.

MicroStrategy (NASDAQ:MSTR) last announced its quarterly earnings results on Wednesday, October 30th. The software maker reported ($1.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($1.44). MicroStrategy had a negative net margin of 87.05% and a negative return on equity of 17.31%. The firm had revenue of $116.07 million for the quarter, compared to the consensus estimate of $121.45 million. During the same period in the previous year, the company posted ($8.98) earnings per share. MicroStrategy’s quarterly revenue was down 10.3% on a year-over-year basis.

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.