Concurrent Investment Advisors LLC Increases Stake in MicroStrategy Incorporated (NASDAQ:MSTR)

MicroStrategy Stock Upgraded To Hold At Cowen Following Q3 Results

Concurrent Investment Advisors LLC purchased 1,482,363 shares of MicroStrategy Incorporated (NASDAQ:MSTR) common stock in the third quarter, raising its stake by 30.8%. Concurrent Investment Advisors is a subsidiary of Cohen & Steers, Inc. (NYSE: CNS). MicroStrategy stock was upgraded from neutral to hold and is likely to continue its growth. Management has taken action to address concerns, and MicroStrategy has been a leader in the Bitcoin mining space.

MicroStrategy Now Holds Over 130,000 Bitcoins

MicroStrategy Incorporated (NASDAQ:MSTR) acquired an additional 301 bitcoins from October 1, 2022, to October 28, 2022, which brings its total bitcoin holdings to approximately 130,000. The price earned per bitcoin was about $18,925. MicroStrategy now holds 0.61% of the total bitcoin supply. These recent purchases bring the market value of MicroStrategy's bitcoin holdings to approximately $2.4 billion.

MicroStrategy Reports a Loss Per Share of $1.02

MicroStrategy Incorporated (NASDAQ:MSTR) reported a loss per share of $1.02 for the third quarter of 2022, compared to earnings per share of $2.12 in the same period last year. Revenue was $122.1 million, a decrease of 2.6% year over year.

• The loss per share was primarily due to a $918.1 million impairment charge on MicroStrategy's bitcoin holdings.
• Revenue from the company's software business was $119.2 million, an increase of 1.2% year over year.
• MicroStrategy's total bitcoin holdings are now worth approximately $2.4 billion.