Chesapeake Capital Corp IL Buys 4,372 Shares of MicroStrategy Incorporated (NASDAQ:MSTR)

Chesapeake Capital Corp IL grew its stake in shares of MicroStrategy Incorporated (NASDAQ:MSTR) by 1,211.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,733 shares of the software maker’s stock after buying an additional 4,372 shares during the quarter. Chesapeake Capital Corp IL’s holdings in MicroStrategy were worth $834,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Mill Creek Capital Advisors LLC acquired a new position in shares of MicroStrategy during the third quarter worth $234,000. Empowered Funds LLC acquired a new position in shares of MicroStrategy during the third quarter worth $440,000. CIBC Asset Management Inc lifted its holdings in shares of MicroStrategy by 935.8% during the third quarter. CIBC Asset Management Inc now owns 4,340 shares of the software maker’s stock worth $732,000 after purchasing an additional 3,921 shares during the period. Lifeworks Advisors LLC acquired a new position in shares of MicroStrategy during the third quarter worth $225,000. Finally, Kapstone Financial Advisors LLC lifted its holdings in shares of MicroStrategy by 885.8% during the third quarter. Kapstone Financial Advisors LLC now owns 70,291 shares of the software maker’s stock worth $12,387,000 after purchasing an additional 63,161 shares during the period. Institutional investors own 72.03% of the company’s stock.

MicroStrategy Stock Performance

Shares of NASDAQ MSTR opened at $340.65 on Friday. The firm’s 50-day moving average price is $204.83 and its 200-day moving average price is $165.71. MicroStrategy Incorporated has a 1-year low of $43.87 and a 1-year high of $383.40. 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 announced its quarterly earnings data on Wednesday, October 30th. The software maker reported ($1.56) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($1.44). The company had revenue of $116.07 million for the quarter, compared to analyst estimates of $121.45 million. MicroStrategy had a negative net margin of 87.05% and a negative return on equity of 17.31%. MicroStrategy’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($8.98) EPS.

Insider Buying and Selling

In related news, CAO Jeanine Montgomery sold 752 shares of the company’s stock in a transaction dated 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 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 legal filing with the SEC, which is available at this link. Also, CEO Phong Le sold 50,000 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $138.28, for a total transaction of $6,914,000.00. Following the completion of the sale, the chief executive officer now owns 12,670 shares in the company, valued at $1,752,007.60. This represents a 79.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 134,954 shares of company stock worth $30,553,037 in the last quarter. Insiders own 13.18% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. TD Cowen lifted their price target on shares of MicroStrategy from $200.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Benchmark lifted their price target on shares of MicroStrategy from $245.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Sanford C. Bernstein cut their price target on shares of MicroStrategy from $2,890.00 to $290.00 and set an “outperform” rating on the stock in a report on Wednesday, October 9th. BTIG Research boosted their target price on shares of MicroStrategy from $180.00 to $240.00 and gave the company a “buy” rating in a report on Monday, October 21st. Finally, Maxim Group boosted their target price on shares of MicroStrategy from $193.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, MicroStrategy has a consensus rating of “Moderate Buy” and a consensus target price of $271.13.

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.