Vestcor Inc Purchases 2,786 Shares of MicroStrategy Incorporated (NASDAQ:MSTR)

Vestcor Inc raised its position in MicroStrategy Incorporated (NASDAQ:MSTR) by 898.7% in the 3rd quarter, Holdings Channel reports. The firm owned 3,096 shares of the software maker’s stock after buying an additional 2,786 shares during the quarter. Vestcor Inc’s holdings in MicroStrategy were worth $522,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in MSTR. US Bancorp DE raised its position in shares of MicroStrategy by 782.8% in 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. Freedom Investment Management Inc. bought a new stake in shares of MicroStrategy during the 3rd quarter valued at about $737,000. Vinva Investment Management Ltd purchased a new position in shares of MicroStrategy during the third quarter worth about $246,000. Hartline Investment Corp increased its position in shares of MicroStrategy by 1,064.6% in the third quarter. Hartline Investment Corp now owns 5,322 shares of the software maker’s stock worth $897,000 after purchasing an additional 4,865 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake 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 valued at $1,396,000 after purchasing an additional 5,560 shares in the last quarter. 59.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at MicroStrategy

In related news, CAO Jeanine Montgomery sold 56,250 shares of the company’s stock in a transaction that occurred on 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 sale, the chief accounting officer now owns 5,670 shares in the company, valued at $1,459,514.70. This represents a 90.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Stephen X. Graham sold 20,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 6,970 shares of the company’s stock, valued at approximately $3,145,979.20. This trade represents a 74.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 102,000 shares of company stock valued at $32,259,177 in the last three months. 13.18% of the stock is currently owned by company insiders.

MicroStrategy Price Performance

MSTR opened at $408.67 on Friday. The stock’s 50 day moving average price is $303.61 and its 200-day moving average price is $201.07. MicroStrategy Incorporated has a 52-week low of $43.87 and a 52-week high of $543.00. The stock has a market capitalization of $82.81 billion, a PE ratio of -193.96 and a beta of 3.17. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.65 and a current ratio of 0.65.

MicroStrategy (NASDAQ:MSTR) last issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $121.45 million. During the same quarter last year, the business earned ($8.98) earnings per share. The business’s quarterly revenue was down 10.3% on a year-over-year basis.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Barclays boosted their price target on shares of MicroStrategy from $275.00 to $515.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. BTIG Research increased their target price on MicroStrategy from $290.00 to $570.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Maxim Group lifted their price target on MicroStrategy from $193.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Canaccord Genuity Group increased their price objective on MicroStrategy from $300.00 to $510.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, TD Cowen boosted their target price on MicroStrategy from $392.00 to $525.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. One analyst has rated the stock with a sell rating and eight have given a buy rating to the company. According to MarketBeat.com, MicroStrategy presently has a consensus rating of “Moderate Buy” and an average price target of $479.25.

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.