MicroStrategy Incorporated (MSTR) Shares Bought by Municipal Employees Retirement System of Michigan
Municipal Employees Retirement System of Michigan raised its stake in shares of MicroStrategy Incorporated (NASDAQ:MSTR) by 59.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,530 shares of the software maker’s stock after purchasing an additional 1,310 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in MicroStrategy were worth $451,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the stock. Aperio Group LLC increased its position in MicroStrategy by 0.5% during the second quarter. Aperio Group LLC now owns 4,171 shares of the software maker’s stock worth $799,000 after purchasing an additional 22 shares during the last quarter. Amalgamated Bank grew its stake in MicroStrategy by 3.2% during the second quarter. Amalgamated Bank now owns 1,308 shares of the software maker’s stock worth $251,000 after buying an additional 40 shares during the period. Texas Permanent School Fund grew its stake in MicroStrategy by 0.9% during the second quarter. Texas Permanent School Fund now owns 6,868 shares of the software maker’s stock worth $1,316,000 after buying an additional 62 shares during the period. M&T Bank Corp grew its stake in MicroStrategy by 2.6% during the second quarter. M&T Bank Corp now owns 4,303 shares of the software maker’s stock worth $826,000 after buying an additional 108 shares during the period. Finally, UBS Asset Management Americas Inc. grew its stake in MicroStrategy by 6.2% during the second quarter. UBS Asset Management Americas Inc. now owns 3,079 shares of the software maker’s stock worth $590,000 after buying an additional 179 shares during the period. 74.31% of the stock is owned by hedge funds and other institutional investors.
MSTR has been the subject of several research reports. Citigroup reiterated a “hold” rating and set a $133.00 price objective (down from $191.00) on shares of MicroStrategy in a research note on Thursday, September 21st. Deutsche Bank decreased their price objective on shares of MicroStrategy to $150.00 and set a “hold” rating for the company in a research note on Friday, September 15th. Mizuho decreased their price objective on shares of MicroStrategy from $220.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, October 27th. Finally, Zacks Investment Research upgraded shares of MicroStrategy from a “strong sell” rating to a “hold” rating in a research note on Friday, September 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $155.75.
MicroStrategy (NASDAQ:MSTR) last released its quarterly earnings data on Thursday, October 26th. The software maker reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.56. The company had revenue of $125.20 million during the quarter, compared to the consensus estimate of $125.78 million. MicroStrategy had a net margin of 14.81% and a return on equity of 12.90%. MicroStrategy’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.90 earnings per share. analysts expect that MicroStrategy Incorporated will post 4.54 EPS for the current fiscal year.
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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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