Longitude Cayman Ltd. Purchases 17,000 Shares of MicroStrategy Incorporated (NASDAQ:MSTR)

Longitude Cayman Ltd. lifted its holdings in MicroStrategy Incorporated (NASDAQ:MSTR) by 459.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,700 shares of the software maker’s stock after buying an additional 17,000 shares during the quarter. MicroStrategy makes up about 1.0% of Longitude Cayman Ltd.’s holdings, making the stock its 20th biggest holding. Longitude Cayman Ltd.’s holdings in MicroStrategy were worth $3,490,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of MSTR. UMB Bank n.a. raised its position in MicroStrategy by 900.0% in the 3rd quarter. UMB Bank n.a. now owns 150 shares of the software maker’s stock worth $25,000 after buying an additional 135 shares during the last quarter. AlphaMark Advisors LLC grew its position in MicroStrategy by 2,900.0% in the 3rd quarter. AlphaMark Advisors LLC now owns 150 shares of the software maker’s stock worth $25,000 after purchasing an additional 145 shares during the period. Capital Performance Advisors LLP purchased a new stake in MicroStrategy during the 3rd quarter valued at $27,000. ST Germain D J Co. Inc. lifted its holdings in shares of MicroStrategy by 900.0% during the 3rd quarter. ST Germain D J Co. Inc. now owns 170 shares of the software maker’s stock valued at $29,000 after buying an additional 153 shares during the period. Finally, Fairman Group LLC boosted its stake in shares of MicroStrategy by 900.0% in the 3rd quarter. Fairman Group LLC now owns 200 shares of the software maker’s stock worth $34,000 after buying an additional 180 shares during the last quarter. Institutional investors own 72.03% of the company’s stock.

Insider Activity

In related news, EVP Wei-Ming Shao sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $141.20, for a total value of $423,600.00. Following the completion of the transaction, the executive vice president now owns 6,460 shares of the company’s stock, valued at $912,152. The trade was a 31.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Phong Le sold 50,000 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $138.28, for a total value of $6,914,000.00. Following the completion of the transaction, the chief executive officer now directly owns 12,670 shares of the company’s stock, valued at approximately $1,752,007.60. The trade was a 79.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 134,954 shares of company stock worth $30,553,037. 13.18% of the stock is currently owned by corporate insiders.

MicroStrategy Price Performance

Shares of MSTR stock opened at $340.65 on Monday. The company has a market capitalization of $69.03 billion, a P/E ratio of -161.45 and a beta of 3.05. The company’s 50-day simple moving average is $204.83 and its two-hundred day simple moving average is $166.15. MicroStrategy Incorporated has a one year low of $43.87 and a one year high of $383.40. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.65 and a quick ratio of 0.65.

MicroStrategy (NASDAQ:MSTR) last posted its quarterly earnings results 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 firm had revenue of $116.07 million for the quarter, compared to the consensus estimate of $121.45 million. During the same period in the previous year, the company posted ($8.98) EPS. MicroStrategy’s quarterly revenue was down 10.3% compared to the same quarter last year.

Analyst Ratings Changes

Several equities analysts recently weighed in on MSTR shares. Benchmark lifted their target price on MicroStrategy from $245.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Canaccord Genuity Group lifted their target price on MicroStrategy from $173.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Cantor Fitzgerald initiated coverage on shares of MicroStrategy in a research report on Wednesday, August 21st. They set an “overweight” rating and a $194.00 target price for the company. Sanford C. Bernstein decreased their target price on MicroStrategy from $2,890.00 to $290.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 9th. Finally, BTIG Research increased their price objective on shares of MicroStrategy from $180.00 to $240.00 and gave the company a “buy” rating in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $271.13.

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.