Summit Financial LLC Invests $224,000 in MicroStrategy Incorporated (NASDAQ:MSTR)

Summit Financial LLC purchased a new stake in shares of MicroStrategy Incorporated (NASDAQ:MSTR) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 774 shares of the software maker’s stock, valued at approximately $224,000.

Several other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in shares of MicroStrategy by 990.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,766,283 shares of the software maker’s stock worth $465,573,000 after buying an additional 2,512,645 shares during the last quarter. Norges Bank bought a new position in MicroStrategy in the fourth quarter worth about $523,981,000. Charles Schwab Investment Management Inc. boosted its stake in MicroStrategy by 14.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 761,776 shares of the software maker’s stock valued at $220,626,000 after acquiring an additional 97,515 shares during the period. Amundi grew its holdings in shares of MicroStrategy by 262.8% during the fourth quarter. Amundi now owns 570,217 shares of the software maker’s stock valued at $165,146,000 after purchasing an additional 413,028 shares during the last quarter. Finally, Swiss National Bank raised its position in shares of MicroStrategy by 10.4% during the 4th quarter. Swiss National Bank now owns 517,000 shares of the software maker’s stock worth $149,734,000 after purchasing an additional 48,800 shares during the period. 59.84% of the stock is currently owned by institutional investors.

MicroStrategy Stock Performance

Shares of NASDAQ MSTR opened at $293.61 on Friday. MicroStrategy Incorporated has a 1 year low of $101.00 and a 1 year high of $543.00. The firm has a market cap of $75.56 billion, a P/E ratio of -52.12 and a beta of 3.36. The stock has a fifty day moving average price of $305.50 and a two-hundred day moving average price of $299.41. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.65 and a current ratio of 0.71.

MicroStrategy (NASDAQ:MSTR) last released its earnings results on Wednesday, February 5th. The software maker reported ($3.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($3.07). MicroStrategy had a negative return on equity of 19.01% and a negative net margin of 251.73%.

Insider Activity at MicroStrategy

In other MicroStrategy news, Director Leslie J. Rechan sold 15,000 shares of the company’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $335.90, for a total value of $5,038,500.00. Following the transaction, the director now owns 4,970 shares of the company’s stock, valued at approximately $1,669,423. This represents a 75.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Wei-Ming Shao acquired 500 shares of MicroStrategy stock in a transaction dated Thursday, March 20th. The shares were bought at an average cost of $85.00 per share, with a total value of $42,500.00. Following the completion of the purchase, the executive vice president now owns 500 shares in the company, valued at approximately $42,500. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 8,000 shares of company stock valued at $680,000 and sold 22,998 shares valued at $7,671,926. Company insiders own 9.16% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on MSTR. Mizuho began coverage on MicroStrategy in a research note on Wednesday, January 29th. They set an “outperform” rating and a $515.00 price objective for the company. Compass Point upgraded shares of MicroStrategy to a “strong-buy” rating in a research report on Wednesday, January 29th. Canaccord Genuity Group cut their price objective on shares of MicroStrategy from $510.00 to $409.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Benchmark restated a “buy” rating and issued a $650.00 target price on shares of MicroStrategy in a research report on Tuesday, January 14th. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $600.00 price target on shares of MicroStrategy in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $508.09.

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.