Raleigh Capital Management Inc. Purchases Shares of 2,598 MicroStrategy Incorporated (NASDAQ:MSTR)

Raleigh Capital Management Inc. acquired a new position in shares of MicroStrategy Incorporated (NASDAQ:MSTR) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,598 shares of the software maker’s stock, valued at approximately $752,000.

A number of other hedge funds have also modified their holdings of the stock. National Bank of Canada FI boosted its position in shares of MicroStrategy by 746.2% in the 3rd quarter. National Bank of Canada FI now owns 20,647 shares of the software maker’s stock valued at $3,481,000 after purchasing an additional 18,207 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in shares of MicroStrategy in the third quarter worth approximately $254,000. Wellington Management Group LLP raised its holdings in shares of MicroStrategy by 979.8% during the third quarter. Wellington Management Group LLP now owns 6,727 shares of the software maker’s stock valued at $1,134,000 after acquiring an additional 6,104 shares during the period. US Bancorp DE lifted its position in shares of MicroStrategy by 782.8% in the 3rd quarter. US Bancorp DE now owns 4,255 shares of the software maker’s stock valued at $717,000 after acquiring an additional 3,773 shares in the last quarter. Finally, Virtu Financial LLC boosted its stake in MicroStrategy by 10,398.4% in the 3rd quarter. Virtu Financial LLC now owns 224,245 shares of the software maker’s stock worth $37,808,000 after purchasing an additional 222,109 shares during the period. 59.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Stephen X. Graham sold 20,000 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $451.36, for a total transaction of $9,027,200.00. Following the completion of the sale, the director now directly owns 6,970 shares of the company’s stock, valued at approximately $3,145,979.20. This represents a 74.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jeanine Montgomery sold 56,250 shares of MicroStrategy stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $257.41, for a total transaction of $14,479,312.50. Following the completion of the transaction, the chief accounting officer now owns 5,670 shares in the company, valued at $1,459,514.70. This trade represents a 90.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 102,000 shares of company stock valued at $32,259,177. Insiders own 9.16% of the company’s stock.

Wall Street Analyst Weigh In

MSTR has been the subject of a number of research analyst reports. Sanford C. Bernstein restated an “outperform” rating and issued a $600.00 target price on shares of MicroStrategy in a report on Thursday, December 12th. Canaccord Genuity Group increased their price objective on MicroStrategy from $300.00 to $510.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. TD Cowen lifted their target price on MicroStrategy from $392.00 to $525.00 and gave the company a “buy” rating in a research note on Monday, November 25th. BTIG Research increased their price target on shares of MicroStrategy from $290.00 to $570.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Benchmark reiterated a “buy” rating and issued a $650.00 target price on shares of MicroStrategy in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $479.25.

MicroStrategy Stock Performance

Shares of MSTR opened at $377.31 on Thursday. The company’s fifty day moving average is $366.62 and its 200-day moving average is $240.20. MicroStrategy Incorporated has a 12 month low of $43.87 and a 12 month high of $543.00. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.65 and a current ratio of 0.65.

MicroStrategy (NASDAQ:MSTR) last posted its earnings results on Wednesday, October 30th. The software maker reported ($1.56) EPS for the quarter, missing the consensus estimate of ($0.12) by ($1.44). MicroStrategy had a negative return on equity of 17.31% and a negative net margin of 87.05%. The business had revenue of $116.07 million for the quarter, compared to analyst estimates of $121.45 million. During the same period in the previous year, the company earned ($8.98) earnings per share. The company’s quarterly revenue was down 10.3% compared to the same quarter last year.

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.