MicroStrategy (NASDAQ:MSTR) Shares Gap Down – Here’s What Happened

MicroStrategy Incorporated (NASDAQ:MSTR)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $379.09, but opened at $366.47. MicroStrategy shares last traded at $366.95, with a volume of 3,407,643 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MSTR shares. Sanford C. Bernstein reiterated an “outperform” rating and issued a $600.00 price target on shares of MicroStrategy in a report on Thursday, December 12th. BTIG Research lifted their price target on shares of MicroStrategy from $290.00 to $570.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Benchmark restated a “buy” rating and set a $650.00 price objective on shares of MicroStrategy in a report on Monday. TD Cowen lifted their price objective on shares of MicroStrategy from $392.00 to $525.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, Canaccord Genuity Group upped their target price on shares of MicroStrategy from $300.00 to $510.00 and gave the stock a “buy” rating in a report on Monday, November 25th. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $479.25.

MicroStrategy Trading Down 2.8 %

The firm has a fifty day moving average price of $349.26 and a 200-day moving average price of $224.56. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market capitalization of $79.49 billion, a P/E ratio of -157.43 and a beta of 3.25.

MicroStrategy (NASDAQ:MSTR) last issued its quarterly earnings results on Wednesday, October 30th. The software maker reported ($1.56) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $116.07 million during the quarter, compared to analysts’ expectations of $121.45 million. During the same period last year, the firm posted ($8.98) earnings per share. MicroStrategy’s quarterly revenue was down 10.3% compared to the same quarter last year.

Insider Activity

In other news, CFO Andrew Kang sold 5,700 shares of MicroStrategy stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $257.15, for a total value of $1,465,755.00. Following the completion of the transaction, the chief financial officer now directly owns 12,080 shares in the company, valued at approximately $3,106,372. The trade was a 32.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen X. Graham sold 20,000 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $451.36, for a total value of $9,027,200.00. Following the sale, the director now directly owns 6,970 shares in the company, valued at $3,145,979.20. This trade represents a 74.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 102,000 shares of company stock valued at $32,259,177 in the last 90 days. Insiders own 13.18% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Savant Capital LLC lifted its holdings in shares of MicroStrategy by 2.6% in the 2nd quarter. Savant Capital LLC now owns 599 shares of the software maker’s stock worth $825,000 after acquiring an additional 15 shares during the last quarter. Ballentine Partners LLC boosted its stake in shares of MicroStrategy by 5.0% during the second quarter. Ballentine Partners LLC now owns 313 shares of the software maker’s stock valued at $431,000 after purchasing an additional 15 shares during the period. Versant Capital Management Inc grew its holdings in shares of MicroStrategy by 38.2% in the fourth quarter. Versant Capital Management Inc now owns 141 shares of the software maker’s stock worth $41,000 after purchasing an additional 39 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of MicroStrategy in the second quarter valued at about $106,000. Finally, Magnetar Financial LLC raised its position in MicroStrategy by 31.6% during the 2nd quarter. Magnetar Financial LLC now owns 337 shares of the software maker’s stock valued at $464,000 after purchasing an additional 81 shares during the last quarter. 59.84% of the stock is currently owned by hedge funds and other institutional investors.

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.