MicroStrategy (NASDAQ:MSTR) Stock Price Down 1.3% – Here’s What Happened

MicroStrategy Incorporated (NASDAQ:MSTR) dropped 1.3% during mid-day trading on Wednesday . The company traded as low as $367.77 and last traded at $370.13. Approximately 2,717,507 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 17,900,866 shares. The stock had previously closed at $375.18.

Wall Street Analyst Weigh In

MSTR has been the topic of a number of research analyst reports. Cantor Fitzgerald reissued a “hold” rating on shares of MicroStrategy in a report on Monday, May 19th. UBS Group reaffirmed a “buy” rating on shares of MicroStrategy in a research report on Friday, May 16th. BTIG Research reissued a “buy” rating on shares of MicroStrategy in a report on Wednesday, May 14th. Canaccord Genuity Group restated a “buy” rating on shares of MicroStrategy in a research note on Monday, May 19th. Finally, HC Wainwright began coverage on MicroStrategy in a research report on Tuesday, April 29th. They issued a “buy” rating and a $480.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $514.42.

MicroStrategy Price Performance

The company has a market capitalization of $100.89 billion, a price-to-earnings ratio of -16.92 and a beta of 3.73. The stock has a fifty day simple moving average of $373.78 and a 200-day simple moving average of $341.81. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.66.

MicroStrategy (NASDAQ:MSTR) last posted its 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). MicroStrategy had a negative net margin of 1,160.72% and a negative return on equity of 37.64%. The firm had revenue of $111.07 million during the quarter, compared to analyst estimates of $116.66 million. During the same quarter in the prior year, the firm earned ($0.83) earnings per share. The business’s revenue for the quarter was down 3.6% on a year-over-year basis.

Insider Activity

In other news, CEO Phong Le sold 5,295 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $374.54, for a total transaction of $1,983,189.30. Following the transaction, the chief executive officer now owns 24,790 shares in the company, valued at $9,284,846.60. This trade represents a 17.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Andrew Kang sold 1,877 shares of MicroStrategy stock in a transaction on Friday, June 6th. The shares were sold at an average price of $374.54, for a total transaction of $703,011.58. Following the completion of the sale, the chief financial officer now directly owns 24,460 shares in the company, valued at $9,161,248.40. This represents a 7.13% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 25,277 shares of company stock worth $2,312,345 and have sold 93,619 shares worth $33,607,643. Insiders own 8.46% of the company’s stock.

Institutional Investors Weigh In On MicroStrategy

Large investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in shares of MicroStrategy by 10.2% in the fourth quarter. Geode Capital Management LLC now owns 3,047,625 shares of the software maker’s stock worth $881,470,000 after acquiring an additional 281,342 shares during the last quarter. Norges Bank purchased a new position in MicroStrategy in the 4th quarter valued at $523,981,000. Northern Trust Corp boosted its stake in MicroStrategy by 24.4% during the 4th quarter. Northern Trust Corp now owns 1,076,185 shares of the software maker’s stock worth $311,685,000 after purchasing an additional 210,997 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in MicroStrategy by 25.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 802,464 shares of the software maker’s stock worth $232,410,000 after purchasing an additional 162,757 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of MicroStrategy by 14.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 761,776 shares of the software maker’s stock worth $220,626,000 after buying an additional 97,515 shares in the last quarter. 59.84% of the stock is currently owned by hedge funds and other institutional investors.

About MicroStrategy

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.