Red Door Wealth Management LLC Invests $347,000 in MicroStrategy Incorporated (NASDAQ:MSTR)

Red Door Wealth Management LLC acquired a new position in shares of MicroStrategy Incorporated (NASDAQ:MSTR) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,199 shares of the software maker’s stock, valued at approximately $347,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. National Bank of Canada FI grew its position in shares of MicroStrategy by 746.2% during the third quarter. National Bank of Canada FI now owns 20,647 shares of the software maker’s stock worth $3,481,000 after buying an additional 18,207 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in shares of MicroStrategy during the third quarter worth about $254,000. Wellington Management Group LLP grew its position 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 worth $1,134,000 after buying an additional 6,104 shares in the last quarter. US Bancorp DE grew its position in shares of MicroStrategy by 782.8% during the third quarter. US Bancorp DE now owns 4,255 shares of the software maker’s stock worth $717,000 after buying an additional 3,773 shares in the last quarter. Finally, Virtu Financial LLC boosted its holdings in MicroStrategy by 10,398.4% in the third quarter. Virtu Financial LLC now owns 224,245 shares of the software maker’s stock valued at $37,808,000 after purchasing an additional 222,109 shares in the last quarter. 59.84% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at MicroStrategy

In related news, CAO Jeanine Montgomery sold 56,250 shares of the company’s 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 transaction, the chief accounting officer now owns 5,670 shares of the company’s stock, valued at $1,459,514.70. This represents a 90.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Wei-Ming Shao sold 18,000 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $368.01, for a total value of $6,624,180.00. Following the transaction, the executive vice president now directly owns 6,460 shares in the company, valued at $2,377,344.60. This represents a 73.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 102,000 shares of company stock worth $32,259,177 over the last 90 days. 9.16% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. TD Cowen upped their price target on MicroStrategy from $392.00 to $525.00 and gave the company a “buy” rating in a report on Monday, November 25th. Canaccord Genuity Group upped their price target on MicroStrategy from $300.00 to $510.00 and gave the company a “buy” rating in a report on Monday, November 25th. Maxim Group upped their price target on MicroStrategy from $193.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, October 31st. BTIG Research upped their price target on MicroStrategy from $290.00 to $570.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Benchmark reaffirmed a “buy” rating and issued a $650.00 price target on shares of MicroStrategy in a report on Tuesday, January 14th. One analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $479.25.

MicroStrategy Price Performance

Shares of NASDAQ MSTR opened at $353.67 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.12. MicroStrategy Incorporated has a twelve month low of $44.59 and a twelve month high of $543.00. The stock has a 50 day moving average of $367.79 and a two-hundred day moving average of $242.68. The stock has a market cap of $84.76 billion, a P/E ratio of -167.85 and a beta of 3.25.

MicroStrategy (NASDAQ:MSTR) last released its quarterly 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 company had revenue of $116.07 million for the quarter, compared to analysts’ expectations of $121.45 million. During the same quarter last year, the company earned ($8.98) EPS. MicroStrategy’s revenue for the quarter was down 10.3% compared to the same quarter last year.

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.