Victory Capital Management Inc. Has $409,000 Stock Position in MicroStrategy Incorporated (NASDAQ:MSTR)

Posted by Defense World Staff on Nov 5th, 2023

Victory Capital Management Inc. boosted its holdings in shares of MicroStrategy Incorporated (NASDAQ:MSTR – Free Report) by 11.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,193 shares of the software maker’s stock after buying an additional 118 shares during the period. Victory Capital Management Inc.’s holdings in MicroStrategy were worth $409,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Janney Montgomery Scott LLC raised its position in MicroStrategy by 26.7% during the second quarter. Janney Montgomery Scott LLC now owns 1,876 shares of the software maker’s stock valued at $642,000 after buying an additional 395 shares during the period. Pinnacle Associates Ltd. acquired a new position in MicroStrategy in the 1st quarter worth about $470,000. C2C Wealth Management LLC acquired a new position in MicroStrategy in the 2nd quarter worth about $292,000. Vontobel Holding Ltd. acquired a new position in MicroStrategy in the 2nd quarter worth about $204,000. Finally, GAM Holding AG acquired a new position in MicroStrategy in the 1st quarter worth about $12,865,000. 49.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity at MicroStrategy

In related news, Director Jarrod M. Patten sold 450 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $391.05, for a total transaction of $175,972.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 20.79% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MSTR shares. TD Cowen started coverage on MicroStrategy in a research report on Wednesday, July 26th. They issued an “outperform” rating and a $520.00 target price on the stock. BTIG Research started coverage on MicroStrategy in a research report on Tuesday, July 11th. They issued a “buy” rating and a $490.00 target price on the stock. StockNews.com started coverage on MicroStrategy in a research report on Thursday, October 5th. They issued a “sell” rating on the stock. Finally, Canaccord Genuity Group upped their target price on MicroStrategy from $513.00 to $554.00 and gave the stock a “buy” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $420.80.

Read Our Latest Analysis on MSTR

MicroStrategy Stock Performance

MSTR opened at $453.95 on Friday. The company has a market cap of $6.40 billion, a PE ratio of 351.90 and a beta of 2.42. The stock has a 50-day moving average of $355.28 and a 200-day moving average of $346.54. MicroStrategy Incorporated has a 52-week low of $132.56 and a 52-week high of $475.09. The company has a debt-to-equity ratio of 2.59, a quick ratio of 0.77 and a current ratio of 0.75.

MicroStrategy (NASDAQ:MSTR – Get Free Report) last released its quarterly earnings results on Wednesday, November 1st. The software maker reported ($8.98) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($9.72). MicroStrategy had a return on equity of 28.10% and a net margin of 17.91%. The company had revenue of $129.46 million for the quarter, compared to the consensus estimate of $126.00 million. During the same quarter last year, the company posted ($0.96) EPS. The business’s revenue was up 3.3% compared to the same quarter last year. As a group, equities research analysts forecast that MicroStrategy Incorporated will post 28.88 earnings per share for the current fiscal year.

MicroStrategy Profile

(Free Report)

MicroStrategy Incorporated provides enterprise analytics software and services in the United States, Canada, Europe, the Middle East, Africa, and internationally. It offers MicroStrategy, an enterprise analytics software platform that enables users to create visualizations, customize apps, and embed analytics directly into workflows; and MicroStrategy Cloud Environment, a managed software-as-a-service solution, which offers always-on threat monitoring and enables rapid analytics development and deployment to deliver security and data privacy requirements.