MicroStrategy (NASDAQ:MSTR) Trading Down 11.4% on Analyst Downgrade

MicroStrategy Incorporated (NASDAQ:MSTR)’s stock price fell 11.4% during trading on Tuesday after Canaccord Genuity Group lowered their price target on the stock from $1,810.00 to $1,590.00. Canaccord Genuity Group currently has a buy rating on the stock. MicroStrategy traded as low as $1,145.88 and last traded at $1,146.01. 516,590 shares were traded during mid-day trading, a decline of 75% from the average session volume of 2,105,026 shares. The stock had previously closed at $1,292.97.

Other equities research analysts also recently issued research reports about the stock. StockNews.com upgraded shares of MicroStrategy to a “sell” rating in a research report on Monday, March 18th. BTIG Research increased their price target on shares of MicroStrategy from $780.00 to $1,800.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. TD Cowen dropped their price target on shares of MicroStrategy from $1,560.00 to $1,450.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 20th. Finally, Benchmark restated a “buy” rating and set a $1,875.00 price target on shares of MicroStrategy in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,678.75.

Insider Activity at MicroStrategy

In other MicroStrategy news, Chairman Michael J. Saylor sold 1,140 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $1,951.33, for a total value of $2,224,516.20. Following the sale, the chairman now directly owns 1,140 shares in the company, valued at approximately $2,224,516.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other MicroStrategy news, Director Jarrod M. Patten sold 3,675 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1,632.55, for a total value of $5,999,621.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Michael J. Saylor sold 1,140 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $1,951.33, for a total transaction of $2,224,516.20. Following the completion of the sale, the chairman now owns 1,140 shares in the company, valued at $2,224,516.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 107,452 shares of company stock worth $117,637,097. 13.18% of the stock is owned by insiders.

Hedge Funds Weigh In On MicroStrategy

A number of hedge funds and other institutional investors have recently made changes to their positions in MSTR. CWM LLC lifted its holdings in MicroStrategy by 22.6% during the 3rd quarter. CWM LLC now owns 369 shares of the software maker’s stock valued at $121,000 after purchasing an additional 68 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in MicroStrategy by 12.3% in the third quarter. Commonwealth Equity Services LLC now owns 13,230 shares of the software maker’s stock valued at $4,343,000 after buying an additional 1,454 shares in the last quarter. Pinnacle Associates Ltd. boosted its position in MicroStrategy by 5.5% in the third quarter. Pinnacle Associates Ltd. now owns 2,752 shares of the software maker’s stock valued at $903,000 after buying an additional 143 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in MicroStrategy by 3.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 2,674 shares of the software maker’s stock valued at $878,000 after buying an additional 99 shares in the last quarter. Finally, Stratos Wealth Partners LTD. boosted its position in MicroStrategy by 37.8% in the third quarter. Stratos Wealth Partners LTD. now owns 959 shares of the software maker’s stock valued at $315,000 after buying an additional 263 shares in the last quarter. 72.03% of the stock is owned by institutional investors.

MicroStrategy Stock Performance

The stock has a market capitalization of $18.07 billion, a price-to-earnings ratio of 37.79 and a beta of 2.89. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.01. The stock’s 50-day simple moving average is $1,363.08 and its 200 day simple moving average is $820.38.

MicroStrategy (NASDAQ:MSTR) last released its quarterly earnings results on Tuesday, February 6th. The software maker reported $5.62 EPS for the quarter. The firm had revenue of $124.48 million for the quarter, compared to analyst estimates of $134.90 million. MicroStrategy had a net margin of 86.47% and a return on equity of 42.81%.

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.