Fred Alger Management LLC Invests $2.69 Million in Strategy Incorporated (NASDAQ:MSTR)

Fred Alger Management LLC bought a new stake in Strategy Incorporated (NASDAQ:MSTR) in the fourth quarter, HoldingsChannel.com reports. The firm bought 9,288 shares of the software maker’s stock, valued at approximately $2,690,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of MSTR. Family Management Corp lifted its stake in Strategy by 2.2% in the fourth quarter. Family Management Corp now owns 1,370 shares of the software maker’s stock worth $397,000 after acquiring an additional 30 shares during the last quarter. Diligent Investors LLC acquired a new stake in Strategy during the 4th quarter worth $735,000. Dunhill Financial LLC purchased a new position in shares of Strategy during the fourth quarter worth about $26,000. EP Wealth Advisors LLC increased its holdings in shares of Strategy by 38.2% in the fourth quarter. EP Wealth Advisors LLC now owns 3,359 shares of the software maker’s stock valued at $973,000 after purchasing an additional 929 shares during the period. Finally, Collar Capital Management LLC acquired a new position in Strategy in the 4th quarter valued at $6,570,000. 59.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Jarrod M. Patten sold 1,100 shares of the company’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $395.00, for a total value of $434,500.00. Following the sale, the director now directly owns 9,170 shares of the company’s stock, valued at $3,622,150. This represents a 10.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Andrew Kang acquired 1,500 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were bought at an average cost of $85.00 per share, with a total value of $127,500.00. Following the completion of the acquisition, the chief financial officer now owns 1,500 shares in the company, valued at $127,500. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders acquired 8,000 shares of company stock worth $680,000 and sold 40,098 shares worth $13,432,270. Company insiders own 9.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on MSTR shares. Benchmark reissued a “buy” rating and set a $650.00 target price on shares of Strategy in a research note on Tuesday, January 14th. Mizuho assumed coverage on shares of Strategy in a report on Wednesday, January 29th. They issued an “outperform” rating and a $515.00 price target on the stock. Canaccord Genuity Group increased their price objective on Strategy from $409.00 to $464.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Compass Point raised shares of Strategy to a “strong-buy” rating in a research note on Wednesday, January 29th. Finally, Barclays lifted their price target on Strategy from $421.00 to $475.00 and gave the company an “overweight” rating in a report on Monday, May 5th. One research analyst has rated the stock with a sell rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $514.42.

Strategy Price Performance

Shares of NASDAQ MSTR opened at $415.93 on Friday. The company has a market capitalization of $107.04 billion, a price-to-earnings ratio of -73.84 and a beta of 3.79. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.71 and a quick ratio of 0.65. Strategy Incorporated has a 1-year low of $102.40 and a 1-year high of $543.00. The business has a 50-day moving average of $318.40 and a 200-day moving average of $328.50.

Strategy (NASDAQ:MSTR) last released its quarterly earnings results on Thursday, May 1st. The software maker reported ($16.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($16.47). The firm had revenue of $111.07 million for the quarter, compared to analysts’ expectations of $116.66 million. Strategy had a negative return on equity of 19.01% and a negative net margin of 251.73%. The business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period last year, the firm earned ($0.83) EPS.

About Strategy

Strategy Incorporated, formerly known as MicroStrategy, provides artificial intelligence-powered enterprise analytics software and services in the United States, Europe, the Middle East, Africa, and internationally. It offers Strategy ONE, a platform that allows non-technical users to access novel and actionable insights for decision-making, and Strategy Cloud for Government, which provides always-on threat monitoring designed to meet the strict technical and regulatory standards of governments and financial institutions.