California Public Employees Retirement System Cuts Stock Holdings in MicroStrategy Incorporated (NASDAQ:MSTR)

California Public Employees Retirement System reduced its position in MicroStrategy Incorporated (NASDAQ:MSTR) by 3.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 264,713 shares of the software maker’s stock after selling 10,166 shares during the period. California Public Employees Retirement System owned about 0.11% of MicroStrategy worth $76,666,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in shares of MicroStrategy by 990.6% in the third quarter. Geode Capital Management LLC now owns 2,766,283 shares of the software maker’s stock worth $465,573,000 after purchasing an additional 2,512,645 shares during the last quarter. Norges Bank bought a new stake in MicroStrategy in the 4th quarter worth about $523,981,000. Charles Schwab Investment Management Inc. raised its position in MicroStrategy by 14.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 761,776 shares of the software maker’s stock worth $220,626,000 after buying an additional 97,515 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in MicroStrategy by 971.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 639,707 shares of the software maker’s stock valued at $107,855,000 after acquiring an additional 579,994 shares during the period. Finally, Amundi boosted its holdings in shares of MicroStrategy by 262.8% during the 4th quarter. Amundi now owns 570,217 shares of the software maker’s stock valued at $165,146,000 after acquiring an additional 413,028 shares during the last quarter. 59.84% of the stock is owned by institutional investors.

MicroStrategy Stock Down 0.4 %

MSTR stock opened at $288.27 on Tuesday. The business’s 50-day moving average price is $311.48 and its 200-day moving average price is $297.16. The stock has a market cap of $74.19 billion, a P/E ratio of -51.18 and a beta of 3.36. The company has a quick ratio of 0.65, a current ratio of 0.71 and a debt-to-equity ratio of 0.39. MicroStrategy Incorporated has a twelve month low of $101.00 and a twelve month high of $543.00.

MicroStrategy (NASDAQ:MSTR) last issued its quarterly earnings results on Wednesday, February 5th. The software maker reported ($3.20) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($3.07). MicroStrategy had a negative net margin of 251.73% and a negative return on equity of 19.01%.

Insiders Place Their Bets

In other MicroStrategy news, CFO Andrew Kang bought 1,500 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The stock was purchased at an average price of $85.00 per share, for a total transaction of $127,500.00. Following the completion of the transaction, the chief financial officer now owns 1,500 shares of the company’s stock, valued at $127,500. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Leslie J. Rechan sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $335.90, for a total value of $5,038,500.00. Following the completion of the transaction, the director now directly owns 4,970 shares in the company, valued at approximately $1,669,423. This represents a 75.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders acquired 8,000 shares of company stock worth $680,000 and sold 22,998 shares worth $7,671,926. 9.16% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on MSTR shares. Canaccord Genuity Group decreased their price objective on shares of MicroStrategy from $510.00 to $409.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Sanford C. Bernstein reissued an “outperform” rating and set a $600.00 price target on shares of MicroStrategy in a report on Thursday, December 12th. Barclays cut their price objective on MicroStrategy from $515.00 to $421.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Benchmark reiterated a “buy” rating and set a $650.00 price objective on shares of MicroStrategy in a research report on Tuesday, January 14th. Finally, Compass Point raised MicroStrategy to a “strong-buy” rating in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, MicroStrategy presently has an average rating of “Buy” and an average target price of $536.90.

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.