OLD National Bancorp IN reduced its position in shares of MicroStrategy Incorporated (NASDAQ:MSTR) by 58.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,954 shares of the software maker’s stock after selling 2,750 shares during the period. OLD National Bancorp IN’s holdings in MicroStrategy were worth $375,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of MicroStrategy during the first quarter worth approximately $120,000. Ameritas Investment Partners Inc. bought a new stake in shares of MicroStrategy during the first quarter worth approximately $154,000. Creative Planning raised its stake in shares of MicroStrategy by 121.0% in the first quarter. Creative Planning now owns 884 shares of the software maker’s stock worth $166,000 after buying an additional 484 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of MicroStrategy by 2.0% in the first quarter. State of Alaska Department of Revenue now owns 1,040 shares of the software maker’s stock worth $195,000 after buying an additional 20 shares in the last quarter. Finally, Clearbridge Investments LLC raised its stake in shares of MicroStrategy by 11.7% in the first quarter. Clearbridge Investments LLC now owns 1,050 shares of the software maker’s stock worth $197,000 after buying an additional 110 shares in the last quarter. 77.81% of the stock is owned by institutional investors and hedge funds.
Shares of MicroStrategy Incorporated (NASDAQ:MSTR) traded down 0.07% during trading on Monday, hitting $128.92. The stock had a trading volume of 343,905 shares. MicroStrategy Incorporated has a 52-week low of $126.07 and a 52-week high of $207.28. The firm has a market cap of $1.48 billion, a PE ratio of 17.81 and a beta of 0.87. The stock has a 50 day moving average of $170.39 and a 200 day moving average of $183.89.
MicroStrategy (NASDAQ:MSTR) last issued its earnings results on Thursday, July 27th. The software maker reported $0.96 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.60 by $0.64. MicroStrategy had a return on equity of 14.99% and a net margin of 16.37%. The company had revenue of $120.61 million during the quarter, compared to analysts’ expectations of $125.18 million. During the same quarter in the prior year, the business posted $1.64 EPS. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. On average, equities analysts anticipate that MicroStrategy Incorporated will post $4.42 EPS for the current year.
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A number of brokerages have commented on MSTR. BidaskClub lowered MicroStrategy from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. First Analysis lowered MicroStrategy from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $225.00 to $140.00 in a report on Monday, July 31st. TheStreet downgraded MicroStrategy from a “b” rating to a “c+” rating in a research note on Friday, July 28th. Deutsche Bank AG downgraded MicroStrategy from a “buy” rating to a “hold” rating and cut their target price for the stock from $220.00 to $180.00 in a research note on Friday, July 28th. Finally, Zacks Investment Research downgraded MicroStrategy from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $191.00.
In related news, EVP Wei-Ming Shao sold 2,400 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $183.54, for a total value of $440,496.00. Following the sale, the executive vice president now owns 1,005 shares in the company, valued at $184,457.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 21.80% of the company’s stock.
About MicroStrategy
MicroStrategy Incorporated is a provider of enterprise software platforms around the world. The Company is engaged in the design, development, marketing and sales of its software platform through licensing arrangements, and cloud-based subscriptions and related services. It focuses on providing enterprise customers with software platform and services for deploying intelligence applications.
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