M&T Bank Corp increased its position in MicroStrategy Incorporated (NASDAQ:MSTR) by 2.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,303 shares of the software maker’s stock after acquiring an additional 108 shares during the period. M&T Bank Corp’s holdings in MicroStrategy were worth $826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its position in MicroStrategy by 6.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 255,493 shares of the software maker’s stock worth $48,971,000 after acquiring an additional 14,839 shares during the period. Bank of America Corp DE grew its stake in MicroStrategy by 148.8% during the 1st quarter. Bank of America Corp DE now owns 35,539 shares of the software maker’s stock valued at $6,674,000 after purchasing an additional 21,257 shares during the last quarter. Clearbridge Investments LLC grew its stake in MicroStrategy by 11.7% during the 1st quarter. Clearbridge Investments LLC now owns 1,050 shares of the software maker’s stock valued at $197,000 after purchasing an additional 110 shares during the last quarter. Vanguard Group Inc. grew its stake in MicroStrategy by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 834,165 shares of the software maker’s stock valued at $156,657,000 after purchasing an additional 36,576 shares during the last quarter. Finally, Thrivent Financial For Lutherans increased its holdings in shares of MicroStrategy by 4.4% in the first quarter. Thrivent Financial For Lutherans now owns 5,270 shares of the software maker’s stock valued at $990,000 after purchasing an additional 220 shares during the period. Institutional investors own 76.28% of the company’s stock.

Shares of MicroStrategy Incorporated (NASDAQ:MSTR) opened at 129.27 on Wednesday. The firm has a 50-day moving average of $127.15 and a 200 day moving average of $166.63. MicroStrategy Incorporated has a 12-month low of $123.15 and a 12-month high of $207.28. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 17.85 and a beta of 0.84.

MicroStrategy (NASDAQ:MSTR) last issued its quarterly earnings data on Thursday, July 27th. The software maker reported $0.96 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.60 by ($0.64). The firm had revenue of $120.61 million during the quarter, compared to analysts’ expectations of $125.18 million. MicroStrategy had a net margin of 16.37% and a return on equity of 14.99%. MicroStrategy’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.64 EPS. Equities analysts forecast that MicroStrategy Incorporated will post $4.33 earnings per share for the current fiscal year.

MSTR has been the subject of several research analyst reports. BidaskClub upgraded MicroStrategy from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Zacks Investment Research raised MicroStrategy from a “strong sell” rating to a “hold” rating in a report on Saturday, July 1st. Deutsche Bank AG lowered MicroStrategy from a “buy” rating to a “hold” rating and dropped their target price for the company from $220.00 to $180.00 in a research report on Friday, July 28th. First Analysis lowered MicroStrategy from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $225.00 to $140.00 in a research report on Monday, July 31st. Finally, TheStreet lowered MicroStrategy from a “b” rating to a “c+” rating in a research report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. MicroStrategy has an average rating of “Hold” and an average price target of $173.40.

COPYRIGHT VIOLATION NOTICE: This story was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this story on another website, it was illegally copied and reposted in violation of international trademark and copyright legislation. The correct version of this story can be viewed at https://www.thecerbatgem.com/2017/10/04/microstrategy-incorporated-mstr-shares-bought-by-mt-bank-corp.html.

About MicroStrategy

MicroStrategy Incorporated is a provider of enterprise software platforms around the world. The Company is engaged in the design, development, marketing and sales of its software platform through licensing arrangements, and cloud-based subscriptions and related services. It focuses on providing enterprise customers with software platform and services for deploying intelligence applications.

Want to see what other hedge funds are holding MSTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MicroStrategy Incorporated (NASDAQ:MSTR).

Institutional Ownership by Quarter for MicroStrategy (NASDAQ:MSTR)

Receive News & Stock Ratings for MicroStrategy Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MicroStrategy Incorporated and related stocks with our FREE daily email newsletter.