California Public Employees Retirement System Boosts Position in MicroStrategy Incorporated (MSTR)
California Public Employees Retirement System boosted its holdings in MicroStrategy Incorporated (NASDAQ:MSTR) by 8.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,600 shares of the software maker’s stock after purchasing an additional 1,900 shares during the quarter. California Public Employees Retirement System owned about 0.22% of MicroStrategy worth $4,907,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in MicroStrategy in the 1st quarter valued at $120,000. Ameritas Investment Partners Inc. acquired a new stake in MicroStrategy in the 1st quarter valued at $154,000. Riverhead Capital Management LLC grew its position in MicroStrategy by 108.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 833 shares of the software maker’s stock valued at $160,000 after purchasing an additional 433 shares during the period. Clearbridge Investments LLC grew its position in MicroStrategy by 11.7% in 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 period. Finally, Amalgamated Bank grew its position in MicroStrategy by 3.2% in the 2nd quarter. Amalgamated Bank now owns 1,308 shares of the software maker’s stock valued at $251,000 after purchasing an additional 40 shares during the period. 76.28% of the stock is owned by institutional investors and hedge funds.
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MicroStrategy Incorporated (NASDAQ:MSTR) opened at 135.56 on Friday. The firm’s 50-day moving average is $129.55 and its 200-day moving average is $162.28. MicroStrategy Incorporated has a 12-month low of $122.90 and a 12-month high of $207.28. The stock has a market capitalization of $1.55 billion, a P/E ratio of 18.72 and a beta of 0.84.
MicroStrategy (NASDAQ:MSTR) last posted its quarterly earnings data on Thursday, July 27th. The software maker reported $0.96 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.60 by ($0.64). The company had revenue of $120.61 million during the quarter, compared to the consensus estimate of $125.18 million. MicroStrategy had a return on equity of 14.99% and a net margin of 16.37%. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter last year, the company posted $1.64 earnings per share. Analysts predict that MicroStrategy Incorporated will post $4.33 EPS for the current fiscal year.
Several analysts recently issued reports on the stock. BidaskClub raised shares of MicroStrategy from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Zacks Investment Research raised shares of MicroStrategy from a “strong sell” rating to a “hold” rating in a report on Friday, September 29th. First Analysis downgraded shares of MicroStrategy from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $225.00 to $140.00 in a report on Monday, July 31st. Deutsche Bank AG cut their price objective on shares of MicroStrategy to $150.00 and set a “hold” rating on the stock in a report on Friday, September 15th. Finally, TheStreet downgraded shares of MicroStrategy from a “b” rating to a “c+” rating in a report on Friday, July 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $160.75.
MicroStrategy Company Profile
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.
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