Centric Wealth Management Boosts Stock Position in MicroStrategy Incorporated (NASDAQ:MSTR)

Centric Wealth Management raised its holdings in shares of MicroStrategy Incorporated (NASDAQ:MSTR) by 1,023.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,370 shares of the software maker’s stock after acquiring an additional 1,248 shares during the quarter. Centric Wealth Management’s holdings in MicroStrategy were worth $231,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in MicroStrategy during the second quarter worth approximately $37,000. GAMMA Investing LLC increased its stake in MicroStrategy by 36.4% in the second quarter. GAMMA Investing LLC now owns 30 shares of the software maker’s stock valued at $41,000 after purchasing an additional 8 shares during the period. Signaturefd LLC lifted its position in MicroStrategy by 13.6% during the 2nd quarter. Signaturefd LLC now owns 50 shares of the software maker’s stock worth $69,000 after acquiring an additional 6 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in shares of MicroStrategy during the second quarter worth approximately $106,000. Finally, Larson Financial Group LLC boosted its holdings in shares of MicroStrategy by 72.3% in the second quarter. Larson Financial Group LLC now owns 81 shares of the software maker’s stock valued at $112,000 after acquiring an additional 34 shares in the last quarter. Institutional investors and hedge funds own 72.03% of the company’s stock.

MicroStrategy Trading Up 9.9 %

MSTR stock opened at $388.84 on Friday. MicroStrategy Incorporated has a fifty-two week low of $43.87 and a fifty-two week high of $543.00. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.12. The firm’s 50-day simple moving average is $248.63 and its 200 day simple moving average is $181.70.

MicroStrategy (NASDAQ:MSTR) last issued its quarterly earnings data 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). MicroStrategy had a negative return on equity of 17.31% and a negative net margin of 87.05%. The business had revenue of $116.07 million during the quarter, compared to the consensus estimate of $121.45 million. During the same period last year, the company earned ($8.98) earnings per share. The business’s quarterly revenue was down 10.3% compared to the same quarter last year.

Analysts Set New Price Targets

MSTR has been the subject of several recent analyst reports. Benchmark raised their price target on MicroStrategy from $450.00 to $650.00 and gave the company a “buy” rating in a report on Monday. Barclays increased their price target on shares of MicroStrategy from $275.00 to $515.00 and gave the company an “overweight” rating in a research report on Monday. Cantor Fitzgerald initiated coverage on MicroStrategy in a research report on Wednesday, August 21st. They set an “overweight” rating and a $194.00 price objective for the company. Maxim Group upped their target price on MicroStrategy from $193.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, TD Cowen raised their target price on shares of MicroStrategy from $392.00 to $525.00 and gave the stock a “buy” rating in a research report on Monday. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to MarketBeat.com, MicroStrategy currently has a consensus rating of “Moderate Buy” and a consensus price target of $479.25.

Insider Activity 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 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 approximately $3,145,979.20. The trade was a 74.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Andrew Kang sold 5,700 shares of MicroStrategy 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 transaction, the chief financial officer now directly owns 12,080 shares in the company, valued at $3,106,372. This represents a 32.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 102,000 shares of company stock worth $32,259,177 in the last 90 days. Corporate insiders own 13.18% of the company’s stock.

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.