MicroStrategy (NASDAQ:MSTR) Shares Gap Down to $1,302.09

MicroStrategy Incorporated (NASDAQ:MSTR)’s share price gapped down prior to trading on Friday . The stock had previously closed at $1,302.09, but opened at $1,215.50. MicroStrategy shares last traded at $1,229.03, with a volume of 242,073 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have commented on the company. TD Cowen upped their price target on MicroStrategy from $1,450.00 to $1,880.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Canaccord Genuity Group lowered their price objective on shares of MicroStrategy from $2,047.00 to $1,826.00 and set a “buy” rating for the company in a research note on Monday, June 24th. BTIG Research increased their target price 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. StockNews.com upgraded shares of MicroStrategy to a “sell” rating in a research note on Monday, March 18th. Finally, Sanford C. Bernstein upgraded MicroStrategy to a “strong-buy” rating in a report on Friday, June 14th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $2,017.67.

MicroStrategy Stock Down 5.4 %

The stock has a market cap of $21.86 billion, a PE ratio of -183.44 and a beta of 3.11. The business has a 50 day moving average of $1,449.31 and a 200-day moving average of $1,142.15. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.48.

MicroStrategy (NASDAQ:MSTR) last announced its earnings results on Monday, April 29th. The software maker reported ($8.26) earnings per share (EPS) for the quarter. MicroStrategy had a negative return on equity of 8.37% and a negative net margin of 17.40%. The business had revenue of $115.25 million for the quarter, compared to analysts’ expectations of $124.80 million.

Insider Transactions at MicroStrategy

In other MicroStrategy news, Chairman Michael J. Saylor sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $1,537.40, for a total transaction of $7,687,000.00. Following the completion of the sale, the chairman now directly owns 994 shares of the company’s stock, valued at approximately $1,528,175.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders sold 30,168 shares of company stock worth $41,761,428. Company insiders own 13.18% of the company’s stock.

Institutional Trading of MicroStrategy

Hedge funds have recently made changes to their positions in the company. ST Germain D J Co. Inc. purchased a new position in MicroStrategy in the first quarter valued at about $29,000. Rise Advisors LLC lifted its stake in shares of MicroStrategy by 233.3% during the first quarter. Rise Advisors LLC now owns 20 shares of the software maker’s stock worth $34,000 after purchasing an additional 14 shares in the last quarter. GAMMA Investing LLC boosted its holdings in MicroStrategy by 36.4% in the 2nd quarter. GAMMA Investing LLC now owns 30 shares of the software maker’s stock worth $41,000 after acquiring an additional 8 shares during the period. Salem Investment Counselors Inc. bought a new stake in MicroStrategy in the first quarter valued at about $55,000. Finally, Allspring Global Investments Holdings LLC bought a new position in MicroStrategy during the first quarter worth $58,000. Institutional investors and hedge funds 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.