MicroStrategy (NASDAQ:MSTR) Shares Down 4.2%

Shares of MicroStrategy Incorporated (NASDAQ:MSTR) dropped 4.2% during trading on Thursday . The stock traded as low as $1,822.23 and last traded at $1,839.00. Approximately 1,305,991 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 2,248,500 shares. The stock had previously closed at $1,919.16.

Analysts Set New Price Targets

MSTR has been the topic of several research analyst reports. Benchmark initiated coverage on shares of MicroStrategy in a research note on Tuesday, February 27th. They issued a “buy” rating and a $990.00 price target on the stock. BTIG Research boosted their price target on shares of MicroStrategy from $560.00 to $690.00 and gave the stock a “buy” rating in a research note on Monday, December 11th. StockNews.com upgraded shares of MicroStrategy to a “sell” rating in a research report on Monday, March 18th. TD Cowen decreased their target price on shares of MicroStrategy from $1,560.00 to $1,450.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 20th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $1,810.00 target price on shares of MicroStrategy in a research report on Thursday. One research analyst has rated the stock with a sell rating and five have assigned a 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 $1,074.00.

MicroStrategy Price Performance

The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $28.93 billion, a PE ratio of 61.95 and a beta of 2.82. The stock’s 50-day moving average is $965.27 and its two-hundred day moving average is $641.38.

MicroStrategy (NASDAQ:MSTR) last posted its quarterly earnings data on Tuesday, February 6th. The software maker reported $5.62 earnings per share for the quarter. MicroStrategy had a net margin of 86.47% and a return on equity of 42.81%. The company had revenue of $124.48 million for the quarter, compared to analyst estimates of $134.90 million.

Insiders Place Their Bets

In other MicroStrategy news, Chairman Michael J. Saylor sold 5,000 shares of the company’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $453.35, for a total value of $2,266,750.00. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Chairman Michael J. Saylor sold 5,000 shares of the stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $453.35, for a total transaction of $2,266,750.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jarrod M. Patten sold 3,675 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $1,632.55, for a total transaction of $5,999,621.25. The disclosure for this sale can be found here. Insiders have sold 120,256 shares of company stock worth $84,789,498 in the last three months. Corporate insiders own 20.79% of the company’s stock.

Hedge Funds Weigh In On MicroStrategy

Hedge funds and other institutional investors have recently modified their holdings of the business. Principal Securities Inc. bought a new position in shares of MicroStrategy during the fourth quarter valued at approximately $31,000. Harvest Fund Management Co. Ltd lifted its position in MicroStrategy by 307.7% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 53 shares of the software maker’s stock valued at $33,000 after acquiring an additional 40 shares during the last quarter. GPS Wealth Strategies Group LLC purchased a new stake in MicroStrategy during the third quarter valued at approximately $37,000. Harbour Investments Inc. lifted its position in MicroStrategy by 2,800.0% during the fourth quarter. Harbour Investments Inc. now owns 58 shares of the software maker’s stock valued at $37,000 after acquiring an additional 56 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. purchased a new stake in MicroStrategy during the second quarter valued at approximately $40,000. 72.03% of the stock is currently owned by institutional investors.

MicroStrategy Company Profile

MicroStrategy Incorporated provides artificial intelligence-powered enterprise analytics software and services in the United States, Europe, the Middle East, Africa, and internationally. It offers MicroStrategy ONE, which provides non-technical users with the ability to directly access novel and actionable insights for decision-making; and MicroStrategy Cloud for Government service, which offers always-on threat monitoring that meets the rigorous technical and regulatory needs of governments and financial institutions.