Cigna Investments Inc. New Has $498,000 Position in MicroStrategy Incorporated (NASDAQ:MSTR)

Cigna Investments Inc. New boosted its holdings in shares of MicroStrategy Incorporated (NASDAQ:MSTR) by 7.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,720 shares of the software maker’s stock after purchasing an additional 125 shares during the period. Cigna Investments Inc. New’s holdings in MicroStrategy were worth $498,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Sovran Advisors LLC bought a new stake in MicroStrategy during the fourth quarter worth $1,381,000. Strengthening Families & Communities LLC bought a new stake in MicroStrategy during the fourth quarter worth $73,000. Hartline Investment Corp lifted its stake in MicroStrategy by 560.5% during the fourth quarter. Hartline Investment Corp now owns 35,150 shares of the software maker’s stock worth $10,180,000 after purchasing an additional 29,828 shares during the last quarter. Stonebridge Financial Group LLC bought a new stake in MicroStrategy during the fourth quarter worth $159,000. Finally, Bonfire Financial bought a new stake in MicroStrategy during the fourth quarter worth $1,123,000. 59.84% of the stock is currently owned by institutional investors.

MicroStrategy Price Performance

Shares of NASDAQ:MSTR opened at $334.62 on Tuesday. 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 12-month low of $65.02 and a 12-month high of $543.00. The business has a fifty day simple moving average of $354.16 and a 200 day simple moving average of $257.96.

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

Insiders Place Their Bets

In other MicroStrategy news, EVP Wei-Ming Shao sold 18,000 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $368.01, for a total transaction of $6,624,180.00. Following the completion of the sale, the executive vice president now directly owns 6,460 shares in the company, valued at approximately $2,377,344.60. This trade represents a 73.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Jeanine Montgomery sold 752 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $322.45, for a total value of $242,482.40. Following the sale, the chief accounting officer now owns 6,418 shares of the company’s stock, valued at approximately $2,069,484.10. The trade was a 10.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,050 shares of company stock worth $16,314,110. Company insiders own 9.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MSTR. Canaccord Genuity Group cut their target price on MicroStrategy from $510.00 to $409.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. BTIG Research increased their price target on MicroStrategy from $290.00 to $570.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Benchmark reiterated a “buy” rating and issued a $650.00 price target on shares of MicroStrategy in a research note on Tuesday, January 14th. Compass Point upgraded MicroStrategy to a “strong-buy” rating in a research note on Wednesday, January 29th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $600.00 price target on shares of MicroStrategy in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $536.90.

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.