Strategy (NASDAQ:MSTR) Director Jarrod Patten Buys 11,780 Shares

Key Points

• Jarrod Patten, a director at Strategy Inc, purchased 11,780 shares of the company's stock at an average price of $97.95 per share, increasing his ownership by 212.06%.
• The stock of Strategy Inc. increased by 2.3%, trading at $296.61 with a total of approximately 9.65 million shares exchanged on Monday.
• Analysts hold a consensus rating of "Moderate Buy" on Strategy Inc with an average target price of $506.93, reflecting optimism about the company's growth potential.

Strategy Inc (NASDAQ:MSTR - Get Free Report) Director Jarrod Patten acquired 11,780 shares of Strategy stock in a transaction dated Thursday, October 16th. The shares were acquired at an average price of $97.95 per share, with a total value of $1,153,851.00. Following the completion of the acquisition, the director directly owned 17,335 shares of the company's stock, valued at approximately $1,697,963.25. The trade was a 212.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Strategy Stock Up 2.3%

Shares of MSTR traded up $6.74 during trading hours on Monday, reaching $296.61. 9,652,557 shares of the stock traded hands, compared to its average volume of 14,616,082. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.17. The stock has a fifty day simple moving average of $335.82 and a 200 day simple moving average of $363.14. Strategy Inc has a 52 week low of $204.91 and a 52 week high of $543.00. The company has a market cap of $84.10 billion, a price-to-earnings ratio of 26.11 and a beta of 3.83.

Strategy (NASDAQ:MSTR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The software maker reported $32.60 earnings per share for the quarter, beating analysts' consensus estimates of ($0.12) by $32.72. The company had revenue of $114.49 million for the quarter, compared to analyst estimates of $112.68 million. Strategy had a net margin of 1,036.61% and a return on equity of 18.83%. The firm's revenue was up 2.7% on a year-over-year basis. During the same period last year, the firm earned ($5.74) earnings per share. Strategy has set its FY 2025 guidance at 80.000-80.000 EPS.

Hedge Funds Weigh In On Strategy

Several hedge funds have recently bought and sold shares of the company. State Street Corp grew its stake in Strategy by 9.9% in the 2nd quarter. State Street Corp now owns 5,484,569 shares of the software maker's stock worth $2,217,027,000 after buying an additional 495,278 shares in the last quarter. Norges Bank purchased a new position in Strategy in the 2nd quarter worth approximately $1,203,062,000. Amundi grew its stake in Strategy by 378.9% in the 2nd quarter. Amundi now owns 1,783,982 shares of the software maker's stock worth $717,660,000 after buying an additional 1,411,500 shares in the last quarter. Invesco Ltd. grew its stake in Strategy by 14.0% in the 2nd quarter. Invesco Ltd. now owns 1,398,098 shares of the software maker's stock worth $565,153,000 after buying an additional 171,940 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in Strategy by 19.1% in the 2nd quarter. Legal & General Group Plc now owns 1,168,437 shares of the software maker's stock worth $472,317,000 after buying an additional 187,291 shares in the last quarter. Hedge funds and other institutional investors own 59.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on MSTR shares. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Strategy in a research report on Wednesday, August 13th. China Renaissance began coverage on shares of Strategy in a research note on Wednesday, October 15th. They issued a "buy" rating and a $473.00 target price for the company. Benchmark reiterated a "buy" rating on shares of Strategy in a research note on Wednesday, August 13th. TD Cowen reduced their target price on shares of Strategy from $640.00 to $620.00 and set a "buy" rating for the company in a research note on Tuesday, September 16th. Finally, Wells Fargo & Company reiterated an "equal weight" rating and issued a $54.00 target price (down previously from $65.00) on shares of Strategy in a research note on Tuesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Strategy has a consensus rating of "Moderate Buy" and an average target price of $506.93.

About Strategy

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.

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