RiverFront Investment Group LLC lessened its stake in shares of Strategy Inc (NASDAQ:MSTR – Free Report) by 65.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 3,010 shares of the software maker’s stock after selling 5,800 shares during the period. RiverFront Investment Group LLC’s holdings in Strategy were worth $457,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. McIlrath & Eck LLC grew its holdings in Strategy by 3.8% during the second quarter. McIlrath & Eck LLC now owns 1,246 shares of the software maker’s stock valued at $504,000 after purchasing an additional 46 shares during the period. Mill Creek Capital Advisors LLC grew its holdings in Strategy by 2.8% during the third quarter. Mill Creek Capital Advisors LLC now owns 1,748 shares of the software maker’s stock valued at $563,000 after purchasing an additional 48 shares during the period. Stonehage Fleming Financial Services Holdings Ltd grew its holdings in Strategy by 31.3% during the third quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 210 shares of the software maker’s stock valued at $68,000 after purchasing an additional 50 shares during the period. Angeles Wealth Management LLC grew its holdings in Strategy by 6.2% during the third quarter. Angeles Wealth Management LLC now owns 893 shares of the software maker’s stock valued at $288,000 after purchasing an additional 52 shares during the period. Finally, Banco Bilbao Vizcaya Argentaria S.A. grew its holdings in Strategy by 0.6% during the third quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 9,533 shares of the software maker’s stock valued at $3,061,000 after purchasing an additional 53 shares during the period. Institutional investors own 59.84% of the company’s stock.
Insider Buying and Selling at Strategy
In other Strategy news, CEO Phong Le sold 3,299 shares of the stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $138.33, for a total transaction of $456,350.67. Following the completion of the transaction, the chief executive officer owned 22,923 shares in the company, valued at $3,170,938.59. This trade represents a 12.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jarrod M. Patten sold 3,400 shares of the stock in a transaction on Monday, April 13th. The shares were sold at an average price of $130.65, for a total transaction of $444,210.00. Following the transaction, the director owned 28,000 shares of the company’s stock, valued at $3,658,200. This trade represents a 10.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 30,702 shares of company stock worth $4,707,839 over the last 90 days. 6.49% of the stock is owned by insiders.
Strategy Price Performance
Strategy (NASDAQ:MSTR – Get Free Report) last posted its earnings results 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 firm had revenue of $124.30 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($16.49) earnings per share. On average, equities research analysts forecast that Strategy Inc will post 116.7 earnings per share for the current fiscal year.
Key Strategy News
Here are the key news stories impacting Strategy this week:
- Positive Sentiment: Strategy continued expanding its Bitcoin position, buying 24,869 BTC for about $2.01 billion and bringing total holdings to 843,738 BTC, which keeps the company at the center of the corporate Bitcoin trade. Article Title
- Positive Sentiment: Shares may also be getting support from ongoing investor interest and analyst optimism tied to the company’s aggressive Bitcoin accumulation and balance-sheet strategy. Article Title
- Neutral Sentiment: Strategy is funding much of the Bitcoin buying through its STRC preferred stock, which appears to have strong trading demand, but also adds complexity to the capital structure. Article Title
- Neutral Sentiment: Michael Saylor has also floated the idea that Strategy could eventually sell some Bitcoin to meet dividend or debt obligations, a notable shift from the company’s earlier “never sell” stance. Article Title
- Negative Sentiment: Bitcoin itself weakened sharply and crypto liquidations rose, which weighs on Strategy because the stock trades as a leveraged proxy for BTC and is highly sensitive to swings in the coin’s price. Article Title
- Negative Sentiment: Some coverage framed the latest Bitcoin buying as adding balance-sheet risk, since the company is increasingly willing to use holdings to support dividend and debt payments. Article Title
Analyst Upgrades and Downgrades
Several research firms have issued reports on MSTR. BTIG Research reissued a “buy” rating and set a $350.00 price target (up from $250.00) on shares of Strategy in a report on Wednesday, May 6th. Benchmark cut their price target on Strategy from $705.00 to $570.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. Cantor Fitzgerald reissued an “overweight” rating on shares of Strategy in a report on Monday, May 11th. Canaccord Genuity Group set a $224.00 price target on Strategy and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, Mizuho set a $320.00 price objective on Strategy and gave the company an “outperform” rating in a research report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $321.86.
View Our Latest Stock Analysis on MSTR
Strategy Company Profile
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.
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