EverSource Wealth Advisors LLC Acquires 9,372 Shares of MicroStrategy Incorporated (NASDAQ:MSTR)

Key Points

• EverSource Wealth Advisors LLC increased its stake in MicroStrategy Incorporated by 41.3% during the first quarter, now holding a total of 32,088 shares valued at approximately $9.25 million.
• Institutional investors currently own 59.84% of MicroStrategy's stock, reflecting significant interest from hedge funds, with some like First Trust Advisors LP and GAMMA Investing LLC making substantial increases in their holdings.
• MicroStrategy reported a quarterly earnings per share of $32.60, significantly exceeding estimates and indicating a year-over-year revenue growth of 2.7% despite the previous year's loss per share of ($5.74).

EverSource Wealth Advisors LLC increased its holdings in shares of MicroStrategy Incorporated (NASDAQ:MSTR - Free Report) by 41.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,088 shares of the software maker's stock after acquiring an additional 9,372 shares during the quarter. EverSource Wealth Advisors LLC's holdings in MicroStrategy were worth $9,250,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in MicroStrategy by 47.7% during the first quarter. GAMMA Investing LLC now owns 830 shares of the software maker's stock worth $239,000 after acquiring an additional 268 shares during the period. Yousif Capital Management LLC lifted its holdings in MicroStrategy by 42.9% during the first quarter. Yousif Capital Management LLC now owns 2,909 shares of the software maker's stock worth $839,000 after acquiring an additional 873 shares during the period. NBC Securities Inc. bought a new stake in MicroStrategy during the first quarter worth $236,000. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in MicroStrategy during the first quarter worth $13,795,000. Finally, BlueCrest Capital Management Ltd bought a new stake in MicroStrategy during the fourth quarter worth $1,431,000. 59.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MSTR has been the subject of a number of recent research reports. Cowen reissued a "buy" rating on shares of MicroStrategy in a research report on Wednesday. Cantor Fitzgerald reissued an "overweight" rating on shares of MicroStrategy in a research report on Wednesday. Benchmark reissued a "buy" rating on shares of MicroStrategy in a research report on Wednesday. BTIG Research raised their target price on MicroStrategy from $620.00 to $700.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Finally, Monness Crespi & Hardt raised their target price on MicroStrategy from $175.00 to $200.00 and gave the stock a "sell" rating in a research report on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $552.50.

MicroStrategy Stock Performance

Shares of NASDAQ:MSTR traded down $6.62 during midday trading on Friday, reaching $366.32. 13,081,418 shares of the company traded hands, compared to its average volume of 11,210,896. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.17. MicroStrategy Incorporated has a 12 month low of $113.69 and a 12 month high of $543.00. The firm has a market capitalization of $100.15 billion, a price-to-earnings ratio of 32.25 and a beta of 3.76. The firm's fifty day moving average price is $397.95 and its two-hundred day moving average price is $354.29.

MicroStrategy (NASDAQ:MSTR - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The software maker reported $32.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.12) by $32.72. MicroStrategy had a return on equity of 18.83% and a net margin of 1,036.61%. The company had revenue of $114.49 million for the quarter, compared to analyst estimates of $112.68 million. During the same period in the previous year, the company posted ($5.74) EPS. The firm's revenue for the quarter was up 2.7% compared to the same quarter last year.

Insider Activity at MicroStrategy

In other MicroStrategy news, CFO Andrew Kang sold 18,750 shares of the company's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $395.00, for a total value of $7,406,250.00. Following the transaction, the chief financial officer directly owned 24,460 shares in the company, valued at $9,661,700. This represents a 43.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jarrod M. Patten bought 5,555 shares of the firm's stock in a transaction on Tuesday, July 29th. The stock was acquired at an average price of $90.00 per share, for a total transaction of $499,950.00. Following the completion of the purchase, the director directly owned 5,555 shares in the company, valued at approximately $499,950. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 278,132 shares of company stock worth $25,145,795 and sold 194,571 shares worth $78,995,024. 8.46% of the stock is owned by company insiders.

About MicroStrategy

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.