Driehaus Capital Management LLC Cuts Stock Position in Microsoft Co. (NASDAQ:MSFT)

Posted by on Jun 13th, 2023

Driehaus Capital Management LLC lessened its stake in Microsoft Co. (NASDAQ:MSFT – Get Rating) by 1.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,518 shares of the software giant’s stock after selling 74 shares during the quarter. Driehaus Capital Management LLC’s holdings in Microsoft were worth $1,084,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC purchased a new stake in Microsoft in the 4th quarter worth $26,000. Monumental Financial Group Inc. acquired a new stake in Microsoft during the 1st quarter worth $28,000. Hanseatic Management Services Inc. boosted its stake in Microsoft by 71.4% during the 3rd quarter. Hanseatic Management Services Inc. now owns 132 shares of the software giant’s stock worth $31,000 after purchasing an additional 55 shares during the last quarter. Retirement Financial Solutions LLC acquired a new stake in Microsoft during the 4th quarter worth $40,000. Finally, PayPay Securities Corp acquired a new stake in Microsoft during the 4th quarter worth $54,000. Hedge funds and other institutional investors own 69.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Rosenblatt Securities lifted their target price on shares of Microsoft from $275.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, April 26th. The Goldman Sachs Group lifted their target price on shares of Microsoft from $325.00 to $335.00 and gave the stock a “buy” rating in a research note on Wednesday, April 26th. KeyCorp boosted their price target on shares of Microsoft from $316.00 to $335.00 and gave the company an “overweight” rating in a research report on Thursday, April 20th. 888 reissued a “maintains” rating on shares of Microsoft in a research report on Wednesday, April 26th. Finally, Mizuho boosted their price target on shares of Microsoft from $325.00 to $340.00 in a research report on Wednesday, May 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirty-two have assigned a buy rating to the company. Based on data from MarketBeat.com, Microsoft has an average rating of “Moderate Buy” and a consensus price target of $331.74.

Insider Buying and Selling

In related news, Director Teri List sold 1,250 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $334.77, for a total value of $418,462.50. Following the completion of the transaction, the director now directly owns 874 shares of the company’s stock, valued at $292,588.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Judson Althoff sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $306.09, for a total value of $9,182,700.00. Following the completion of the transaction, the executive vice president now directly owns 117,456 shares of the company’s stock, valued at $35,952,107.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Teri List sold 1,250 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $334.77, for a total value of $418,462.50. Following the completion of the transaction, the director now directly owns 874 shares of the company’s stock, valued at $292,588.98. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,331 shares of company stock worth $15,867,278. Company insiders own 0.03% of the company’s stock.

Microsoft Stock Up 1.5 %

MSFT stock opened at $331.85 on Tuesday. The company’s 50 day moving average price is $307.71 and its 200 day moving average price is $271.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.88 and a current ratio of 1.91. Microsoft Co. has a fifty-two week low of $213.43 and a fifty-two week high of $338.56. The firm has a market capitalization of $2.47 trillion, a price-to-earnings ratio of 35.95, a PEG ratio of 2.90 and a beta of 0.93.

Microsoft (NASDAQ:MSFT – Get Rating) last released its earnings results on Tuesday, April 25th. The software giant reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.23. Microsoft had a net margin of 33.25% and a return on equity of 38.98%. The firm had revenue of $52.86 billion for the quarter, compared to analyst estimates of $51.01 billion. During the same period in the prior year, the firm earned $2.22 earnings per share. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts anticipate that Microsoft Co. will post 9.65 EPS for the current fiscal year.

Microsoft Company Profile

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Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. The company operates in three segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. The Productivity and Business Processes segment offers Office, Exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, Microsoft Viva, and Skype for Business; Skype, Outlook.com, OneDrive, and LinkedIn; and Dynamics 365, a set of cloud-based and on-premises business solutions for organizations and enterprise divisions.

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Institutional Ownership by Quarter for Microsoft (NASDAQ:MSFT)

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