Cibc World Market Inc. Sells 13,242 Shares of Strategy Inc $MSTR

Cibc World Market Inc. lowered its position in Strategy Inc (NASDAQ:MSTR) by 32.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,684 shares of the software maker’s stock after selling 13,242 shares during the period. Cibc World Market Inc.’s holdings in Strategy were worth $4,207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Rhumbline Advisers lifted its stake in Strategy by 16.1% in the third quarter. Rhumbline Advisers now owns 313,565 shares of the software maker’s stock worth $101,034,000 after purchasing an additional 43,509 shares during the last quarter. Schroder Investment Management Group grew its stake in Strategy by 21.0% in the 3rd quarter. Schroder Investment Management Group now owns 118,478 shares of the software maker’s stock worth $38,175,000 after acquiring an additional 20,536 shares in the last quarter. Van ECK Associates Corp grew its stake in Strategy by 46.1% in the 3rd quarter. Van ECK Associates Corp now owns 204,506 shares of the software maker’s stock worth $65,894,000 after acquiring an additional 64,482 shares in the last quarter. Daviman Financial LLC bought a new position in Strategy in the 4th quarter worth about $1,013,000. Finally, Harvest Portfolios Group Inc. raised its stake in shares of Strategy by 119.0% during the third quarter. Harvest Portfolios Group Inc. now owns 1,550,520 shares of the software maker’s stock valued at $499,593,000 after acquiring an additional 842,480 shares in the last quarter. Institutional investors own 59.84% of the company’s stock.

Insider Activity

In other news, CEO Phong Le sold 93,738 shares of Strategy stock in a transaction on Friday, June 5th. The stock was sold at an average price of $118.73, for a total value of $11,129,512.74. Following the transaction, the chief executive officer directly owned 119,925 shares in the company, valued at approximately $14,238,695.25. This trade represents a 43.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jarrod M. Patten sold 15,050 shares of Strategy stock in a transaction on Friday, May 29th. The shares were sold at an average price of $154.94, for a total value of $2,331,847.00. Following the completion of the transaction, the director owned 28,000 shares in the company, valued at $4,338,320. This represents a 34.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 190,649 shares of company stock worth $24,968,729. 6.49% of the stock is currently owned by company insiders.

More Strategy News

Here are the key news stories impacting Strategy this week:

• Positive Sentiment: Strategy reported it bought 1,550 Bitcoin for about $101.3 million between June 1 and June 7, signaling that Michael Saylor’s firm is still adding to its treasury despite the recent crypto selloff. Strategy resumes bitcoin buying spree, quelling market panic
• Positive Sentiment: The company’s shareholders approved changes to preferred dividends, including moving STRC payments to a semi-monthly schedule, which may improve the appeal of Strategy’s income-linked securities. Strategy Shareholders Approve Changes to Preferred Dividends
• Positive Sentiment: Bitcoin and other crypto stocks bounced after last week’s sharp decline, lifting sentiment toward Strategy as a major corporate Bitcoin holder. Strategy, Coinbase, Circle and Robinhood Lead Crypto Stocks Rally Amid Bitcoin Rebound
• Neutral Sentiment: Michael Saylor hinted that Strategy may be preparing another Bitcoin purchase, which keeps traders focused on the company’s accumulation strategy but does not add new hard numbers yet. Michael Saylor Hints At Potential Bitcoin Acquisition As Strategy CEO Reaffirms Commitment To Grow BTC Holdings
• Negative Sentiment: Some headlines remain a drag, including JPMorgan’s warning that Strategy may need to rebuild dollar reserves and could face pressure to sell more Bitcoin to fund dividends. JPMorgan: Strategy’s $1.7 Billion Dividend Bill Could Force More Bitcoin Sales
• Negative Sentiment: Investor concern is also being fueled by insider selling, including reports that CEO Phong Le and executive Andrew Kang sold shares during the recent selloff. Phong Le Sells 93,738 Shares of Strategy (NASDAQ:MSTR) Stock

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Mizuho dropped their price objective on Strategy from $320.00 to $265.00 and set an “outperform” rating on the stock in a research note on Monday, June 1st. B. Riley Financial increased their price objective on Strategy from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Texas Capital raised Strategy to a “strong-buy” rating in a research note on Thursday, March 19th. Zacks Research cut Strategy from a “hold” rating to a “strong sell” rating in a research note on Monday, May 18th. Finally, TD Cowen increased their price objective on Strategy from $395.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $313.93.

Strategy Stock Performance

Shares of NASDAQ:MSTR opened at $127.20 on Tuesday. The firm has a 50 day moving average of $153.54 and a 200 day moving average of $153.50. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $44.58 billion, a price-to-earnings ratio of -3.17 and a beta of 3.50. Strategy Inc has a 52 week low of $104.17 and a 52 week high of $457.22.

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

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.