Freedom Investment Management Inc. Invests $737,000 in MicroStrategy Incorporated (NASDAQ:MSTR)

Freedom Investment Management Inc. bought a new stake in MicroStrategy Incorporated (NASDAQ:MSTR) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 4,371 shares of the software maker’s stock, valued at approximately $737,000.

A number of other hedge funds have also made changes to their positions in MSTR. Townsquare Capital LLC grew its stake in MicroStrategy by 1,235.9% in the 3rd quarter. Townsquare Capital LLC now owns 3,874 shares of the software maker’s stock valued at $653,000 after acquiring an additional 3,584 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in shares of MicroStrategy by 932.9% in the third quarter. D.A. Davidson & CO. now owns 5,185 shares of the software maker’s stock valued at $874,000 after purchasing an additional 4,683 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of MicroStrategy by 204.5% in the third quarter. The Manufacturers Life Insurance Company now owns 8,279 shares of the software maker’s stock valued at $1,396,000 after purchasing an additional 5,560 shares during the last quarter. Dai ichi Life Insurance Company Ltd increased its stake in shares of MicroStrategy by 900.0% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 6,000 shares of the software maker’s stock worth $1,012,000 after purchasing an additional 5,400 shares in the last quarter. Finally, Qsemble Capital Management LP acquired a new position in shares of MicroStrategy during the 3rd quarter worth approximately $326,000. Hedge funds and other institutional investors own 72.03% of the company’s stock.

Wall Street Analysts Forecast Growth

MSTR has been the topic of a number of analyst reports. Maxim Group increased their target price on MicroStrategy from $193.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Barclays increased their price objective on MicroStrategy from $275.00 to $515.00 and gave the company an “overweight” rating in a research note on Monday. BTIG Research boosted their target price on shares of MicroStrategy from $290.00 to $570.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Canaccord Genuity Group raised their price target on shares of MicroStrategy from $300.00 to $510.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Cantor Fitzgerald started coverage on shares of MicroStrategy in a report on Wednesday, August 21st. They set an “overweight” rating and a $194.00 price target for the company. One analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $479.25.

MicroStrategy Stock Up 9.9 %

MSTR opened at $388.84 on Friday. The stock has a market capitalization of $78.79 billion, a price-to-earnings ratio of -184.55 and a beta of 3.05. MicroStrategy Incorporated has a 12 month low of $43.87 and a 12 month high of $543.00. 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 business has a 50-day moving average of $248.63 and a two-hundred day moving average of $181.70.

MicroStrategy (NASDAQ:MSTR) last released its earnings results on Wednesday, October 30th. The software maker reported ($1.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($1.44). The company had revenue of $116.07 million during the quarter, compared to analysts’ expectations of $121.45 million. MicroStrategy had a negative net margin of 87.05% and a negative return on equity of 17.31%. MicroStrategy’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($8.98) earnings per share.

Insider Transactions at MicroStrategy

In other MicroStrategy news, Director Stephen X. Graham sold 20,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $451.36, for a total transaction of $9,027,200.00. Following the transaction, the director now owns 6,970 shares in the company, valued at $3,145,979.20. The trade was a 74.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Jeanine Montgomery sold 56,250 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $257.41, for a total value of $14,479,312.50. Following the completion of the sale, the chief accounting officer now directly owns 5,670 shares of the company’s stock, valued at $1,459,514.70. The trade was a 90.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 102,000 shares of company stock worth $32,259,177 in the last ninety days. Insiders own 13.18% of the company’s stock.

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.