Texas Permanent School Fund raised its position in MicroStrategy Incorporated (NASDAQ:MSTR) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,868 shares of the software maker’s stock after buying an additional 62 shares during the period. Texas Permanent School Fund owned approximately 0.07% of MicroStrategy worth $1,316,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in MicroStrategy during the first quarter worth $120,000. Ameritas Investment Partners Inc. purchased a new stake in shares of MicroStrategy during the first quarter valued at approximately $154,000. Creative Planning increased 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 valued at $166,000 after buying an additional 484 shares during the period. State of Alaska Department of Revenue increased 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 valued at $195,000 after buying an additional 20 shares during the period. Finally, Clearbridge Investments LLC increased 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 valued at $197,000 after buying an additional 110 shares during the period. 77.81% of the stock is currently owned by hedge funds and other institutional investors.
Shares of MicroStrategy Incorporated (NASDAQ MSTR) opened at 128.72 on Thursday. MicroStrategy Incorporated has a 12 month low of $126.07 and a 12 month high of $207.28. The stock has a market capitalization of $1.47 billion, a P/E ratio of 17.78 and a beta of 0.87. The company’s 50-day moving average is $165.58 and its 200 day moving average is $182.18.
MicroStrategy (NASDAQ:MSTR) last posted its earnings results on Thursday, July 27th. The software maker reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by $0.64. MicroStrategy had a net margin of 16.37% and a return on equity of 14.99%. The company had revenue of $120.61 million during the quarter, compared to analysts’ expectations of $125.18 million. During the same quarter last year, the firm earned $1.64 EPS. MicroStrategy’s revenue for the quarter was down 2.1% on a year-over-year basis. Equities research analysts predict that MicroStrategy Incorporated will post $4.42 earnings per share for the current year.
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Several analysts recently commented on the stock. Zacks Investment Research raised shares of MicroStrategy from a “strong sell” rating to a “hold” rating in a research report on Saturday, July 1st. Benchmark Co. assumed coverage on shares of MicroStrategy in a research report on Thursday, April 27th. They set a “hold” rating on the stock. Deutsche Bank AG downgraded shares of MicroStrategy from a “buy” rating to a “hold” rating and cut their price objective for the company from $220.00 to $180.00 in a research report on Friday, July 28th. BidaskClub raised shares of MicroStrategy from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Finally, First Analysis downgraded shares of MicroStrategy from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $225.00 to $140.00 in a research report on Monday, July 31st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $191.00.
In other MicroStrategy news, EVP Wei-Ming Shao sold 2,400 shares of MicroStrategy stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $183.54, for a total value of $440,496.00. Following the transaction, the executive vice president now owns 1,005 shares in the company, valued at $184,457.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 21.80% of the stock is owned by insiders.
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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