BTIG Research Cuts Strategy (NASDAQ:MSTR) Price Target to $250.00

Strategy (NASDAQ:MSTR) had its price target cut by research analysts at BTIG Research from $350.00 to $250.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. BTIG Research’s target price would suggest a potential upside of 187.59% from the company’s previous close.

Several other brokerages also recently issued reports on MSTR. Weiss Ratings reiterated a “hold (c)” rating on shares of Strategy in a research report on Wednesday, June 24th. Benchmark restated a “buy” rating on shares of Strategy in a research report on Tuesday, June 2nd. Mizuho dropped their target price on shares of Strategy from $320.00 to $265.00 and set an “outperform” rating for the company in a research note on Monday, June 1st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Strategy in a research report on Monday, June 15th. Finally, Canaccord Genuity Group decreased their price target on shares of Strategy from $163.00 to $130.00 and set a “buy” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $294.43.

Strategy Price Performance

MSTR stock traded down $5.75 during midday trading on Tuesday, reaching $86.93. 35,315,121 shares of the company’s stock traded hands, compared to its average volume of 21,653,301. The company has a 50-day simple moving average of $147.65 and a two-hundred day simple moving average of $146.08. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.22. Strategy has a 1-year low of $81.81 and a 1-year high of $457.22. The company has a market cap of $30.46 billion, a price-to-earnings ratio of -2.16 and a beta of 3.50.

Strategy (NASDAQ:MSTR) last posted its quarterly earnings data on Tuesday, May 5th. The software maker reported ($38.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.86) by ($37.39). The business had revenue of $124.30 million during the quarter, compared to analyst estimates of $120.75 million. Strategy had a negative return on equity of 26.97% and a negative net margin of 2,482.01%.Strategy’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($16.49) EPS. On average, analysts anticipate that Strategy will post 116.7 earnings per share for the current year.

Insider Transactions at Strategy

In other Strategy news, Director Jarrod M. Patten sold 1,500 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $106.08, for a total transaction of $159,120.00. Following the transaction, the director directly owned 28,406 shares in the company, valued at approximately $3,013,308.48. This represents a 5.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Phong Le bought 11,000 shares of Strategy stock in a transaction dated Monday, June 22nd. The stock was acquired at an average cost of $90.80 per share, for a total transaction of $998,800.00. Following the purchase, the chief executive officer directly owned 11,000 shares in the company, valued at approximately $998,800. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders bought 11,166 shares of company stock valued at $1,014,265 and sold 193,622 shares valued at $25,189,621. 6.49% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Strategy

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Schroder Investment Management Group lifted its stake in Strategy by 21.0% in the third quarter. Schroder Investment Management Group now owns 118,478 shares of the software maker’s stock valued at $38,175,000 after buying an additional 20,536 shares during the period. Van ECK Associates Corp grew its position in shares of Strategy by 46.1% during the 3rd quarter. Van ECK Associates Corp now owns 204,506 shares of the software maker’s stock worth $65,894,000 after buying an additional 64,482 shares during the period. Daviman Financial LLC bought a new stake in shares of Strategy in the 4th quarter valued at about $1,013,000. Legal & General Group Plc increased its stake in shares of Strategy by 7.5% in the 3rd quarter. Legal & General Group Plc now owns 1,255,770 shares of the software maker’s stock valued at $404,622,000 after acquiring an additional 87,333 shares during the last quarter. Finally, Capital Research Global Investors raised its position in shares of Strategy by 33.6% in the 3rd quarter. Capital Research Global Investors now owns 4,205,258 shares of the software maker’s stock valued at $1,354,982,000 after acquiring an additional 1,057,804 shares during the period. 59.84% of the stock is owned by institutional investors.

More Strategy News

Here are the key news stories impacting Strategy this week:

• Positive Sentiment: Raise its annual STRC preferred dividend to 12%, which may help support demand for the security and improve financing stability.
• Positive Sentiment: Authorize up to $2 billion in buybacks across common stock and preferred securities, which could provide downside support for MSTR if executed.
• Positive Sentiment: Maintain a large U.S. dollar reserve of about $2.55 billion, giving the company more liquidity to cover preferred dividends and interest obligations.

About Strategy

Strategy, formerly known as MicroStrategy, Incorporated (NASDAQ: MSTR) is a global provider of enterprise analytics and mobility software. The company’s flagship platform offers business intelligence, data discovery, and advanced visualizations that enable organizations to analyze large volumes of data and deliver actionable insights. In addition to traditional on-premises deployments, Strategy provides a range of cloud-based services and managed offerings that allow customers to leverage the power of its analytics tools without managing complex infrastructure.

Founded in 1989 by Michael J.