Navellier & Associates Inc. Takes $614,000 Position in MicroStrategy Incorporated (NASDAQ:MSTR)

Navellier & Associates Inc. bought a new position in shares of MicroStrategy Incorporated (NASDAQ:MSTR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,639 shares of the software maker’s stock, valued at approximately $614,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. US Bancorp DE increased 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 acquiring an additional 3,773 shares in the last quarter. Hartline Investment Corp increased its position in shares of MicroStrategy by 1,064.6% during the third quarter. Hartline Investment Corp now owns 5,322 shares of the software maker’s stock worth $897,000 after acquiring an additional 4,865 shares in the last quarter. National Pension Service increased its position in shares of MicroStrategy by 900.0% during the third quarter. National Pension Service now owns 245,000 shares of the software maker’s stock worth $41,307,000 after acquiring an additional 220,500 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of MicroStrategy by 848.8% during the third quarter. Janney Montgomery Scott LLC now owns 37,005 shares of the software maker’s stock worth $6,239,000 after acquiring an additional 33,105 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of MicroStrategy by 2,791.9% during the third quarter. EverSource Wealth Advisors LLC now owns 25,564 shares of the software maker’s stock worth $4,310,000 after acquiring an additional 24,680 shares in the last quarter. 72.03% of the stock is owned by institutional investors.

Insider Activity at MicroStrategy

In other MicroStrategy news, CAO Jeanine Montgomery sold 752 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $322.45, for a total value of $242,482.40. Following the sale, the chief accounting officer now directly owns 6,418 shares in the company, valued at $2,069,484.10. This represents a 10.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Andrew Kang sold 5,700 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $257.15, for a total transaction of $1,465,755.00. Following the completion of the sale, the chief financial officer now owns 12,080 shares in the company, valued at $3,106,372. This represents a 32.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 82,000 shares of company stock worth $23,231,977. 13.18% of the stock is owned by corporate insiders.

MicroStrategy Stock Down 18.2 %

MicroStrategy stock opened at $387.50 on Friday. MicroStrategy Incorporated has a twelve month low of $43.87 and a twelve month high of $543.00. The firm has a 50 day moving average price of $228.07 and a 200-day moving average price of $173.86. The company has a market capitalization of $78.52 billion, a P/E ratio of -183.65 and a beta of 3.05. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.12.

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MSTR. TD Cowen boosted their target price on shares of MicroStrategy from $200.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Maxim Group upped their price objective on shares of MicroStrategy from $193.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Barclays upped their price objective on shares of MicroStrategy from $225.00 to $275.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Canaccord Genuity Group upped their price objective on shares of MicroStrategy from $173.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Cantor Fitzgerald began coverage on shares of MicroStrategy in a research report on Wednesday, August 21st. They issued an “overweight” rating and a $194.00 price objective for the company. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $331.13.

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.