Synergy Asset Management LLC Invests $1.30 Million in MicroStrategy Incorporated (NASDAQ:MSTR)

Synergy Asset Management LLC purchased a new stake in MicroStrategy Incorporated (NASDAQ:MSTR) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 761 shares of the software maker’s stock, valued at approximately $1,297,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Hsbc Holdings PLC raised its holdings in MicroStrategy by 34.4% during the third quarter. Hsbc Holdings PLC now owns 5,865 shares of the software maker’s stock worth $1,924,000 after purchasing an additional 1,500 shares in the last quarter. LPL Financial LLC grew its holdings in MicroStrategy by 12.6% during the third quarter. LPL Financial LLC now owns 27,845 shares of the software maker’s stock worth $9,141,000 after acquiring an additional 3,105 shares during the period. Stifel Financial Corp raised its position in MicroStrategy by 140.6% in the third quarter. Stifel Financial Corp now owns 5,670 shares of the software maker’s stock worth $1,861,000 after acquiring an additional 3,313 shares in the last quarter. Northern Trust Corp increased its holdings in shares of MicroStrategy by 2.1% in the 3rd quarter. Northern Trust Corp now owns 108,075 shares of the software maker’s stock valued at $35,479,000 after purchasing an additional 2,248 shares in the last quarter. Finally, Toronto Dominion Bank purchased a new stake in MicroStrategy during the third quarter worth about $66,000. 72.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at MicroStrategy

In other news, Chairman Michael J. Saylor sold 688 shares of the firm’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $1,657.49, for a total value of $1,140,353.12. Following the transaction, the chairman now directly owns 688 shares in the company, valued at approximately $1,140,353.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders sold 35,856 shares of company stock valued at $51,096,331. Company insiders own 13.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MSTR shares. BTIG Research lifted their price target on shares of MicroStrategy from $780.00 to $1,800.00 and gave the company a “buy” rating in a research report on Friday, April 5th. TD Cowen raised their price target on MicroStrategy from $1,450.00 to $1,880.00 and gave the company a “buy” rating in a research report on Friday, June 21st. Benchmark reiterated a “buy” rating and issued a $1,875.00 price objective on shares of MicroStrategy in a research report on Thursday, April 25th. Canaccord Genuity Group cut their target price on shares of MicroStrategy from $2,047.00 to $1,826.00 and set a “buy” rating for the company in a research report on Monday, June 24th. Finally, StockNews.com upgraded shares of MicroStrategy to a “sell” rating in a report on Monday, March 18th. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, MicroStrategy has an average rating of “Moderate Buy” and an average price target of $2,017.67.

MicroStrategy Trading Down 2.8 %

Shares of MSTR stock traded down $37.68 during trading hours on Tuesday, hitting $1,328.29. 564,330 shares of the company were exchanged, compared to its average volume of 1,851,111. The firm has a fifty day moving average of $1,447.71 and a 200 day moving average of $1,134.62. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.48. MicroStrategy Incorporated has a 1 year low of $307.11 and a 1 year high of $1,999.99. The firm has a market cap of $23.56 billion, a PE ratio of -199.24 and a beta of 3.11.

MicroStrategy (NASDAQ:MSTR) last issued its quarterly earnings results on Monday, April 29th. The software maker reported ($8.26) EPS for the quarter. The company had revenue of $115.25 million for the quarter, compared to analyst estimates of $124.80 million. MicroStrategy had a negative return on equity of 8.37% and a negative net margin of 17.40%.

MicroStrategy 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.