Norges Bank Takes $523.98 Million Position in MicroStrategy Incorporated (NASDAQ:MSTR)

Norges Bank bought a new position in shares of MicroStrategy Incorporated (NASDAQ:MSTR) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,809,201 shares of the software maker’s stock, valued at approximately $523,981,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Riverview Trust Co bought a new position in shares of MicroStrategy in the fourth quarter worth $25,000. IAG Wealth Partners LLC purchased a new position in MicroStrategy during the fourth quarter worth about $25,000. Parkside Financial Bank & Trust raised its holdings in shares of MicroStrategy by 422.2% in the 4th quarter. Parkside Financial Bank & Trust now owns 94 shares of the software maker’s stock valued at $27,000 after acquiring an additional 76 shares in the last quarter. Aspect Partners LLC bought a new stake in shares of MicroStrategy during the 4th quarter valued at about $28,000. Finally, Private Wealth Management Group LLC grew its holdings in shares of MicroStrategy by 208.8% during the fourth quarter. Private Wealth Management Group LLC now owns 105 shares of the software maker’s stock worth $30,000 after purchasing an additional 71 shares in the last quarter. 59.84% of the stock is currently owned by hedge funds and other institutional investors.

MicroStrategy Stock Down 10.8 %

MSTR opened at $289.41 on Friday. MicroStrategy Incorporated has a 12 month low of $101.00 and a 12 month high of $543.00. The company has a current ratio of 0.71, a quick ratio of 0.65 and a debt-to-equity ratio of 0.39. The business’s 50-day moving average price is $313.64 and its 200-day moving average price is $293.74. The company has a market cap of $74.48 billion, a P/E ratio of -51.38 and a beta of 3.36.

MicroStrategy (NASDAQ:MSTR) last announced its quarterly earnings data on Wednesday, February 5th. The software maker reported ($3.20) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($3.07). MicroStrategy had a negative net margin of 251.73% and a negative return on equity of 19.01%.

Analyst Ratings Changes

A number of brokerages recently weighed in on MSTR. Cantor Fitzgerald raised their target price on shares of MicroStrategy from $613.00 to $619.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Monness Crespi & Hardt began coverage on shares of MicroStrategy in a report on Wednesday, March 19th. They set a “neutral” rating for the company. Sanford C. Bernstein reiterated an “outperform” rating and issued a $600.00 target price on shares of MicroStrategy in a research report on Thursday, December 12th. Benchmark restated a “buy” rating and set a $650.00 price target on shares of MicroStrategy in a research report on Tuesday, January 14th. Finally, Compass Point upgraded MicroStrategy to a “strong-buy” rating in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $536.90.

Insider Activity

In related news, CAO Jeanine Montgomery sold 481 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $329.27, for a total transaction of $158,378.87. Following the transaction, the chief accounting officer now owns 7,805 shares in the company, valued at $2,569,952.35. The trade was a 5.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Andrew Kang acquired 1,500 shares of the company’s stock in a transaction on Thursday, March 20th. The stock was acquired at an average price of $85.00 per share, with a total value of $127,500.00. Following the acquisition, the chief financial officer now owns 1,500 shares in the company, valued at approximately $127,500. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 8,000 shares of company stock valued at $680,000 and sold 22,998 shares valued at $7,671,926. Insiders own 9.16% of the company’s stock.

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.