Thursday, 18 April 2024

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MicroStrategy executive chairman sells over $700k in stock By

Michael Saylor's MicroStrategy buys 2,395 bitcoins at an average price of $17,871 - filing

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MicroStrategy Inc. (NASDAQ:MSTR) Executive Chairman Michael J. Saylor recently sold a notable amount of the company’s stock, according to a new SEC filing. The transactions, which occurred on April 2, 2024, involved the sale of Class A Common Stock at prices that varied within a specified range.

The filing detailed multiple sales at weighted average prices that ranged from $1,574.66 to $1,587.28. In total, Saylor sold shares amounting to approximately $706,435. These sales were conducted under a prearranged Rule 10b5-1 trading plan, which was adopted on September 19, 2023. Such plans allow insiders to establish pre-planned transactions to sell stocks at a predetermined time to avoid accusations of insider trading.

The transactions were spread across several price points. The lowest average price per share reported was $1,574.66, with sales occurring at prices from $1,574.48 to $1,574.86. Another set of shares was sold at an average price of $1,578.86, within a range from $1,578.83 to $1,578.95. The highest average price reached in these transactions was $1,587.28, with individual sales ranging from $1,587.14 to $1,587.40.

The SEC filing also indicated that Saylor’s ownership in MicroStrategy Inc. decreased as a result of these sales. However, the exact number of shares he retains following the transactions was not disclosed in the summary provided.

Investors often monitor insider transactions as they can provide insights into an executive’s perspective on the company’s current valuation and future prospects. Saylor’s role as Executive Chairman and his long-standing position in the company make his trading activities particularly noteworthy to shareholders and potential investors.

MicroStrategy has not released any statements regarding the transactions, and as per SEC regulations, the company and its executives are not required to provide further details or justifications for such sales. However, the SEC filing does state that full information regarding the number of shares sold at each price within the reported ranges will be provided upon request to the company, its security holders, or the SEC staff.

InvestingPro Insights

MicroStrategy Inc. (NASDAQ:MSTR) has been a topic of discussion not only due to recent insider transactions but also because of its financial performance and stock behavior. According to InvestingPro data, MicroStrategy boasts an impressive gross profit margin, with the last twelve months as of Q4 2023 showing a margin of 77.85%. This…

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