Sanford C. Bernstein Cuts MicroStrategy (NASDAQ:MSTR) Price Target to $290.00

MicroStrategy (NASDAQ:MSTR) had its target price decreased by Sanford C. Bernstein from $2,890.00 to $290.00 in a report released on Wednesday morning, Benzinga reports. Sanford C. Bernstein currently has an outperform rating on the software maker’s stock.

A number of other equities analysts have also recently issued reports on the stock. TD Cowen raised their price objective on shares of MicroStrategy from $195.00 to $200.00 and gave the company a buy rating in a research note on Monday, September 23rd. Barclays lifted their price target on shares of MicroStrategy from $146.00 to $173.00 and gave the stock an overweight rating in a research report on Monday, September 23rd. Canaccord Genuity Group reduced their price target on shares of MicroStrategy from $185.00 to $173.00 and set a buy rating on the stock in a research report on Monday, September 16th. Maxim Group lifted their price target on shares of MicroStrategy from $183.50 to $193.00 and gave the stock a buy rating in a research report on Friday, August 2nd. Finally, Cantor Fitzgerald initiated coverage on shares of MicroStrategy in a research report on Wednesday, August 21st. They set an overweight rating and a $194.00 price target on the stock. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, MicroStrategy has a consensus rating of Moderate Buy and a consensus price target of $202.25.

MicroStrategy Price Performance

Shares of MSTR stock opened at $212.59 on Wednesday. MicroStrategy has a 52-week low of $31.43 and a 52-week high of $212.81. The stock has a market cap of $37.71 billion, a PE ratio of -152.29 and a beta of 3.11. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.47 and a current ratio of 0.47. The firm’s 50 day moving average price is $145.17 and its two-hundred day moving average price is $146.92.

MicroStrategy (NASDAQ:MSTR) last announced its quarterly earnings data on Thursday, August 1st. The software maker reported ($0.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.48). MicroStrategy had a negative net margin of 43.69% and a negative return on equity of 14.72%. The business had revenue of $111.44 million during the quarter, compared to the consensus estimate of $121.99 million. During the same period in the previous year, the business posted $0.15 earnings per share. MicroStrategy’s revenue was down 7.4% compared to the same quarter last year.

Insider Activity at MicroStrategy

In related news, CEO Phong Le sold 50,000 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $138.28, for a total value of $6,914,000.00. Following the sale, the chief executive officer now directly owns 12,670 shares of the company’s stock, valued at approximately $1,752,007.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other MicroStrategy news, CEO Phong Le sold 50,000 shares of MicroStrategy stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $138.28, for a total value of $6,914,000.00. Following the sale, the chief executive officer now directly owns 12,670 shares in the company, valued at approximately $1,752,007.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Wei-Ming Shao sold 3,000 shares of MicroStrategy stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $141.20, for a total transaction of $423,600.00. Following the completion of the sale, the executive vice president now owns 6,460 shares in the company, valued at $912,152. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 101,838 shares of company stock valued at $13,950,265. 13.18% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MicroStrategy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital International Investors increased its stake in MicroStrategy by 14.9% in the 1st quarter. Capital International Investors now owns 1,791,564 shares of the software maker’s stock valued at $3,053,828,000 after buying an additional 232,667 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of MicroStrategy by 34.8% during the 1st quarter. Vanguard Group Inc. now owns 1,553,048 shares of the software maker’s stock worth $2,647,263,000 after purchasing an additional 401,071 shares during the last quarter. Strong Tower Advisory Services raised its holdings in shares of MicroStrategy by 990.0% in the 3rd quarter. Strong Tower Advisory Services now owns 160,668 shares of the software maker’s stock valued at $27,089,000 after purchasing an additional 145,928 shares during the period. Exchange Traded Concepts LLC raised its holdings in shares of MicroStrategy by 1,019.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 113,601 shares of the software maker’s stock valued at $19,153,000 after purchasing an additional 103,454 shares during the period. Finally, Creative Planning raised its holdings in shares of MicroStrategy by 1,294.2% in the 3rd quarter. Creative Planning now owns 89,784 shares of the software maker’s stock valued at $15,138,000 after purchasing an additional 83,344 shares during the period. 72.03% of the stock is currently owned by institutional investors and hedge funds.

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.