MicroStrategy Incorporated (MSTR) rating initates by TD Cowen


MicroStrategy Incorporated’s recently made public that its Director Patten Jarrod M unloaded Company’s shares for reported $0.17 million on Aug 09. In the deal valued at $379.55 per share,450 shares were sold. As a result of this transaction, Patten Jarrod M now holds 0 shares worth roughly $ 0.0.

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Then, Patten Jarrod M sold 450 shares, generating $175,972 in total proceeds. Upon selling the shares at $391.05, the Director now owns 0 shares.

Before that, Patten Jarrod M sold 1,000 shares. MicroStrategy Incorporated shares valued at $389,870 were divested by the Director at a price of $389.87 per share. As a result of the transaction, Patten Jarrod M now holds 0 shares, worth roughly $0.0.

TD Cowen initiated its MicroStrategy Incorporated [MSTR] rating to an Outperform in a research note published on Friday, July 26, 2023; the price target was $520. PT values the company’s stock at a premium of 32.41 to its Friday closing price.

Price Performance Review of MSTR

On Friday, MicroStrategy Incorporated [NASDAQ:MSTR] saw its stock fall -1.69% to $351.48. On the same session, the stock had its day’s lowest price of $346.63, but rose to a high of $360.94. Over the last five days, the stock has gained 4.59%. MicroStrategy Incorporated shares have risen nearly 148.27% since the year began. Nevertheless, the stocks have risen 51.79% over the past one year. While a 52-week high of $475.09 was reached on 07/14/23, a 52-week low of $132.56 was recorded on 01/03/23. SMA at 50 days reached $385.63, while 200 days put it at $284.61. A total of 0.41 million shares were traded, compared to the trading of 0.61 million shares in the previous session.

Levels Of Support And Resistance For MSTR Stock

The 24-hour chart illustrates a support level at 345.09, which if violated will result in even more drops to 338.71. On the upside, there is a resistance level at 359.40. A further resistance level may holdings at 367.33. The Relative Strength Index (RSI) on the 14-day chart is 44.79, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 9.40, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 58.54%. Stochastics %K at 53.89% indicates the stock is a holding.

How much short interest is there in MicroStrategy Incorporated?

A steep rise in short interest was recorded in MicroStrategy Incorporated stocks on Aug 14, 2023, dropping by -0.24 million shares to a total of 2.58 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 2.82 million shares. There was a decline of -9.3%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 24.47% of the overall stock float, the days-to-cover ratio (short ratio) fell to 4.36.

MicroStrategy Incorporated [MSTR] – Who Are The Largest Shareholders?

In filings from Capital Research & Management Co, it is revealed that the company now owns 1,549,667 shares, or roughly 14.10% of the outstanding MSTR shares. In other words, the investor’s shares have risen by 3,274 from its previous 13-F filing of 1546393.0. Additionally, The Vanguard Group, Inc. increased 5.92% of its stake after which the total value it holdings stand at $434,481,175, while BlackRock Fund Advisors added 19.09% of its stake to hold $319.68 million in the firm. Over the last quarter, Fidelity Management & Research Co sold -355,673 shares of MicroStrategy Incorporated, while SSgA Funds Management, Inc. sold 20,939 shares. At present, Geode Capital Management LLC is holding 221,013 shares valued at $96.78 million. Susquehanna Financial Group LLLP owned 197,789 shares of the company at the time of its most recent 13F filing, worth $86.61 million.

According to FactSet, MicroStrategy Incorporated’s share price will average $448.60 in the next year, based on opinions of analysts polled by the firm. This is up nearly 42.65 percent from its previous closing price of $357.53. Analysts expect MicroStrategy Incorporated stock to reach the higher price of $520.00, while the lowest price estimate is $210.00. However, 5 analysts have rated MSTR stock as an Overweight in their predictions for 2023.


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