Redmond Asset Management LLC Buys New Stake in MicroStrategy Incorporated (NASDAQ:MSTR)

Redmond Asset Management LLC bought a new stake in MicroStrategy Incorporated (NASDAQ:MSTR) during the second quarter, HoldingsChannel reports. The institutional investor bought 8,446 shares of the software maker’s stock, valued at approximately $1,210,000.

A number of other hedge funds also recently bought and sold shares of MSTR. Public Employees Retirement System of Ohio lifted its stake in MicroStrategy by 48.0% in the 4th quarter. Public Employees Retirement System of Ohio now owns 253 shares of the software maker’s stock valued at $32,000 after buying an additional 82 shares in the last quarter. Pearl River Capital LLC purchased a new stake in MicroStrategy in the 1st quarter valued at approximately $58,000. Everence Capital Management Inc. purchased a new stake in MicroStrategy in the 1st quarter valued at approximately $201,000. CWM Advisors LLC purchased a new stake in MicroStrategy in the 2nd quarter valued at approximately $209,000. Finally, BNP Paribas Arbitrage SA lifted its stake in MicroStrategy by 147.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,997 shares of the software maker’s stock valued at $288,000 after buying an additional 1,190 shares in the last quarter. 78.34% of the stock is currently owned by hedge funds and other institutional investors.

In other MicroStrategy news, Director Leslie J. Rechan purchased 1,900 shares of MicroStrategy stock in a transaction on Thursday, August 1st. The shares were bought at an average price of $136.98 per share, with a total value of $260,262.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 26.88% of the company’s stock.

A number of research analysts have weighed in on the company. Zacks Investment Research lowered MicroStrategy from a “hold” rating to a “strong sell” rating in a research note on Friday, July 12th. ValuEngine raised MicroStrategy from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, BidaskClub raised MicroStrategy from a “sell” rating to a “hold” rating in a research note on Saturday, August 10th.

Shares of MicroStrategy stock traded down $0.88 during trading hours on Thursday, reaching $137.07. 2,865 shares of the company’s stock were exchanged, compared to its average volume of 118,161. MicroStrategy Incorporated has a 52-week low of $115.50 and a 52-week high of $152.38. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 80.62 and a beta of 0.65. The company’s fifty day moving average is $131.67. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.90 and a quick ratio of 2.90.

MicroStrategy (NASDAQ:MSTR) last issued its quarterly earnings results on Tuesday, July 30th. The software maker reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.19). MicroStrategy had a return on equity of 0.67% and a net margin of 5.85%. The business had revenue of $117.74 million for the quarter, compared to analysts’ expectations of $120.63 million. During the same period in the prior year, the company earned $0.13 EPS. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, equities analysts forecast that MicroStrategy Incorporated will post 0.53 EPS for the current year.

About MicroStrategy

MicroStrategy Incorporated provides enterprise analytics and mobility software platforms worldwide. It offers MicroStrategy Consulting that provides customers with assessment, advisory, architecture, and deployment services to guide their customers in defining, developing, and delivering business analytics solutions for their enterprises across various industries; and MicroStrategy Education, which consists of classroom-based courses, instructor-led courses, recorded courses, self-paced e-learning modules, customer on-site training, and enterprise E-Courseware options for large organizations in various languages.

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Institutional Ownership by Quarter for MicroStrategy (NASDAQ:MSTR)

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