Canaccord Genuity Group Trims MicroStrategy (NASDAQ:MSTR) Target Price to $1,590.00

MicroStrategy (NASDAQ:MSTR) had its price objective lowered by analysts at Canaccord Genuity Group from $1,810.00 to $1,590.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 22.97% from the stock’s previous close.

A number of other analysts also recently issued reports on the stock. TD Cowen cut their price target on shares of MicroStrategy from $1,560.00 to $1,450.00 and set an “outperform” rating for the company in a report on Wednesday, March 20th. StockNews.com upgraded shares of MicroStrategy to a “sell” rating in a report on Monday, March 18th. Benchmark restated a “buy” rating and set a $1,875.00 price target on shares of MicroStrategy in a report on Thursday, April 25th. Finally, BTIG Research raised their price target on shares of MicroStrategy from $780.00 to $1,800.00 and gave the stock a “buy” rating in a report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,678.75.

MicroStrategy Trading Up 0.8 %

MSTR opened at $1,292.97 on Tuesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.83 and a quick ratio of 0.83. The company’s 50 day simple moving average is $1,363.08 and its two-hundred day simple moving average is $820.38. MicroStrategy has a 1-year low of $266.00 and a 1-year high of $1,999.99. The firm has a market capitalization of $21.94 billion, a price-to-earnings ratio of 45.88 and a beta of 2.89.

MicroStrategy (NASDAQ:MSTR) last released its earnings results 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 business had revenue of $124.48 million for the quarter, compared to analyst estimates of $134.90 million.

Insider Activity at MicroStrategy

In related news, Chairman Michael J. Saylor sold 5,000 shares of MicroStrategy stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $1,295.80, for a total value of $6,479,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Michael J. Saylor sold 5,000 shares of MicroStrategy stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $1,295.80, for a total value of $6,479,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Phong Le sold 10,000 shares of MicroStrategy stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $861.24, for a total transaction of $8,612,400.00. Following the completion of the sale, the chief executive officer now owns 595 shares of the company’s stock, valued at approximately $512,437.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 112,452 shares of company stock worth $120,206,247. Insiders own 13.18% of the company’s stock.

Hedge Funds Weigh In On MicroStrategy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ST Germain D J Co. Inc. purchased a new stake in shares of MicroStrategy during the 1st quarter worth $29,000. Principal Securities Inc. purchased a new stake in shares of MicroStrategy during the 4th quarter worth $31,000. Harvest Fund Management Co. Ltd lifted its position in shares of MicroStrategy by 307.7% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 53 shares of the software maker’s stock worth $33,000 after purchasing an additional 40 shares during the last quarter. Rise Advisors LLC lifted its position in shares of MicroStrategy by 233.3% during the 1st quarter. Rise Advisors LLC now owns 20 shares of the software maker’s stock worth $34,000 after purchasing an additional 14 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC purchased a new stake in shares of MicroStrategy during the 3rd quarter worth $37,000. Hedge funds and other institutional investors own 72.03% of the company’s stock.

About MicroStrategy

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.