Cornerstone Wealth Group LLC Buys Shares of 1,221 MicroStrategy Incorporated (NASDAQ:MSTR)

Cornerstone Wealth Group LLC purchased a new stake in MicroStrategy Incorporated (NASDAQ:MSTR) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 1,221 shares of the software maker’s stock, valued at approximately $354,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Geode Capital Management LLC increased its holdings in MicroStrategy by 990.6% in the third quarter. Geode Capital Management LLC now owns 2,766,283 shares of the software maker’s stock valued at $465,573,000 after purchasing an additional 2,512,645 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in MicroStrategy by 971.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 639,707 shares of the software maker’s stock worth $107,855,000 after purchasing an additional 579,994 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of MicroStrategy by 587.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 664,261 shares of the software maker’s stock valued at $111,994,000 after acquiring an additional 567,628 shares in the last quarter. Swiss National Bank raised its holdings in shares of MicroStrategy by 904.7% during the third quarter. Swiss National Bank now owns 468,200 shares of the software maker’s stock valued at $78,939,000 after purchasing an additional 421,600 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in MicroStrategy by 1,077.0% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 343,164 shares of the software maker’s stock valued at $57,857,000 after acquiring an additional 314,007 shares during the period. 59.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Benchmark reaffirmed a “buy” rating and issued a $650.00 price target on shares of MicroStrategy in a research report on Tuesday, January 14th. TD Cowen boosted their target price on shares of MicroStrategy from $392.00 to $525.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Maxim Group upped their price objective on MicroStrategy from $193.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Barclays lifted their price objective on MicroStrategy from $275.00 to $515.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Finally, BTIG Research increased their target price on shares of MicroStrategy from $290.00 to $570.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $479.25.

Insider Buying and Selling

In other MicroStrategy news, CEO Phong Le sold 1,252 shares of MicroStrategy stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $322.45, for a total value of $403,707.40. Following the completion of the sale, the chief executive officer now owns 13,918 shares of the company’s stock, valued at approximately $4,487,859.10. This trade represents a 8.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen X. Graham sold 20,000 shares of the stock in a transaction on Thursday, November 21st. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 102,000 shares of company stock valued at $32,259,177 over the last three months. Corporate insiders own 9.16% of the company’s stock.

MicroStrategy Stock Performance

Shares of MSTR opened at $347.92 on Tuesday. The stock has a 50-day moving average price of $367.05 and a 200-day moving average price of $245.76. The company has a market cap of $83.38 billion, a PE ratio of -165.12 and a beta of 3.25. MicroStrategy Incorporated has a 12-month low of $46.75 and a 12-month high of $543.00. 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 (NASDAQ:MSTR) last issued its earnings results on Wednesday, October 30th. The software maker reported ($1.56) earnings per share (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 firm had revenue of $116.07 million during the quarter, compared to analysts’ expectations of $121.45 million. During the same period in the prior year, the company earned ($8.98) EPS. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year.

MicroStrategy 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.