Correct Capital Wealth Management Raises Holdings in MicroStrategy Incorporated (NASDAQ:MSTR)

Correct Capital Wealth Management boosted its holdings in shares of MicroStrategy Incorporated (NASDAQ:MSTR - Free Report) by 12.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 188,463 shares of the software maker's stock after purchasing an additional 20,790 shares during the period. MicroStrategy comprises approximately 8.8% of Correct Capital Wealth Management's holdings, making the stock its 3rd largest holding. Correct Capital Wealth Management owned about 0.07% of MicroStrategy worth $54,328,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of MSTR. Maryland State Retirement & Pension System boosted its stake in shares of MicroStrategy by 0.3% in the 4th quarter. Maryland State Retirement & Pension System now owns 8,991 shares of the software maker's stock worth $2,604,000 after buying an additional 30 shares during the last quarter. Family Management Corp boosted its stake in shares of MicroStrategy by 2.2% in the 4th quarter. Family Management Corp now owns 1,370 shares of the software maker's stock worth $397,000 after buying an additional 30 shares during the last quarter. Oder Investment Management LLC boosted its stake in shares of MicroStrategy by 3.1% in the 4th quarter. Oder Investment Management LLC now owns 1,268 shares of the software maker's stock worth $367,000 after buying an additional 38 shares during the last quarter. Rothschild Investment LLC boosted its stake in shares of MicroStrategy by 2.3% in the 1st quarter. Rothschild Investment LLC now owns 2,049 shares of the software maker's stock worth $591,000 after buying an additional 46 shares during the last quarter. Finally, Gerber Kawasaki Wealth & Investment Management boosted its stake in shares of MicroStrategy by 2.9% in the 4th quarter. Gerber Kawasaki Wealth & Investment Management now owns 2,017 shares of the software maker's stock worth $584,000 after buying an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 59.84% of the company's stock.

MicroStrategy Price Performance

Shares of MSTR stock traded up $6.33 during trading hours on Thursday, hitting $421.74. The stock had a trading volume of 12,979,634 shares, compared to its average volume of 17,975,521. MicroStrategy Incorporated has a one year low of $102.40 and a one year high of $543.00. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.66. The stock's 50-day moving average price is $388.72 and its two-hundred day moving average price is $342.64. The stock has a market capitalization of $115.30 billion, a price-to-earnings ratio of -19.33 and a beta of 3.70.

MicroStrategy (NASDAQ:MSTR - Get Free Report) last issued its earnings results on Thursday, May 1st. The software maker reported ($16.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($16.47). MicroStrategy had a negative return on equity of 37.64% and a negative net margin of 1,160.72%. The firm had revenue of $111.07 million during the quarter, compared to the consensus estimate of $116.66 million. During the same period last year, the firm posted ($0.83) earnings per share. The company's revenue for the quarter was down 3.6% compared to the same quarter last year.

Insider Transactions at MicroStrategy

In other news, EVP Wei-Ming Shao sold 1,701 shares of MicroStrategy stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $374.54, for a total value of $637,092.54. Following the sale, the executive vice president directly owned 12,726 shares of the company's stock, valued at approximately $4,766,396.04. The trade was a 11.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Jeanine Montgomery sold 339 shares of MicroStrategy stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $374.55, for a total value of $126,972.45. Following the completion of the sale, the chief accounting officer directly owned 8,605 shares in the company, valued at $3,223,002.75. This trade represents a 3.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 25,277 shares of company stock valued at $2,312,345 and sold 70,621 shares valued at $25,935,717. 8.46% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MSTR. Barclays reiterated a "hold" rating on shares of MicroStrategy in a research report on Monday, May 19th. BTIG Research reissued a "buy" rating on shares of MicroStrategy in a report on Wednesday, May 14th. Cantor Fitzgerald reissued a "hold" rating on shares of MicroStrategy in a report on Monday, May 19th. Canaccord Genuity Group reissued a "buy" rating on shares of MicroStrategy in a report on Monday, May 19th. Finally, HC Wainwright started coverage on MicroStrategy in a report on Tuesday, April 29th. They set a "buy" rating and a $480.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $514.42.

MicroStrategy Profile

Strategy Incorporated, formerly known as MicroStrategy, provides artificial intelligence-powered enterprise analytics software and services in the United States, Europe, the Middle East, Africa, and internationally. It offers Strategy ONE, a platform that allows non-technical users to access novel and actionable insights for decision-making, and Strategy Cloud for Government, which provides always-on threat monitoring designed to meet the strict technical and regulatory standards of governments and financial institutions.