MicroStrategy (NASDAQ:MSTR) Shares Down 6.6% – Time to Sell?

MicroStrategy Incorporated (NASDAQ:MSTR)’s share price dropped 6.6% during mid-day trading on Friday . The company traded as low as $300.11 and last traded at $303.06. Approximately 5,990,502 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 17,827,162 shares. The stock had previously closed at $324.59.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Barclays reduced their price objective on shares of MicroStrategy from $515.00 to $421.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Monness Crespi & Hardt started coverage on shares of MicroStrategy in a report on Wednesday, March 19th. They issued a “neutral” rating on the stock. Mizuho started coverage on MicroStrategy in a research note on Wednesday, January 29th. They set an “outperform” rating and a $515.00 price objective for the company. Compass Point upgraded MicroStrategy to a “strong-buy” rating in a research note on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods initiated coverage on MicroStrategy in a report on Friday, February 7th. They issued an “outperform” rating and a $560.00 price target on the stock. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $536.90.

MicroStrategy Stock Down 10.8 %

The company has a market cap of $74.48 billion, a PE ratio of -51.38 and a beta of 3.36. The stock’s 50 day moving average price is $313.64 and its 200-day moving average price is $294.89. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.65 and a current ratio of 0.71.

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

Insider Buying and Selling at MicroStrategy

In other MicroStrategy news, CEO Phong Le purchased 6,000 shares of MicroStrategy stock in a transaction that occurred on Thursday, March 20th. The shares were bought at an average price of $85.00 per share, for a total transaction of $510,000.00. Following the acquisition, the chief executive officer now directly owns 6,000 shares in the company, valued at approximately $510,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Jeanine Montgomery sold 481 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $329.27, for a total value of $158,378.87. Following the completion of the sale, the chief accounting officer now owns 7,805 shares of the company’s stock, valued at approximately $2,569,952.35. This trade represents a 5.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 8,000 shares of company stock worth $680,000 and sold 22,998 shares worth $7,671,926. Corporate insiders own 9.16% of the company’s stock.

Hedge Funds Weigh In On MicroStrategy

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Thrivent Financial for Lutherans increased its position in MicroStrategy by 1,486.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 5,410 shares of the software maker’s stock valued at $912,000 after purchasing an additional 5,069 shares during the period. Cerity Partners LLC purchased a new position in shares of MicroStrategy during the third quarter valued at about $1,040,000. Private Trust Co. NA raised its stake in MicroStrategy by 750.0% in the third quarter. Private Trust Co. NA now owns 204 shares of the software maker’s stock worth $34,000 after buying an additional 180 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in MicroStrategy by 204.5% in the third quarter. The Manufacturers Life Insurance Company now owns 8,279 shares of the software maker’s stock worth $1,396,000 after buying an additional 5,560 shares during the period. Finally, D.A. Davidson & CO. boosted its position in MicroStrategy by 932.9% during the 3rd quarter. D.A. Davidson & CO. now owns 5,185 shares of the software maker’s stock valued at $874,000 after acquiring an additional 4,683 shares in the last quarter. Institutional investors own 59.84% of the company’s stock.

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.