BofA’s Hartnett says concentrated U.S. stock returns are likely to persist
Shao Wei-Ming, Executive Vice President and General Counsel at MicroStrategy Inc . (NASDAQ:MSTR), recently executed several stock transactions involving the company’s Class A common stock. The transactions come amid significant market interest in MSTR, which has delivered an impressive 106% return over the past six months according to InvestingPro data. On March 24, 2025, Wei-Ming sold a total of 2,051 shares, generating approximately $675,315. The shares were sold at a weighted average price range between $329.08 and $329.67.
In addition to the sales, Wei-Ming also acquired 4,990 shares through the vesting of restricted stock units, which were converted into Class A common stock. This transaction, however, did not involve any cash exchange. Following these transactions, Wei-Ming holds 10,597 shares of MicroStrategy’s Class A common stock. The sales were conducted under a pre-established Rule 10b5-1 trading plan, aimed at satisfying tax withholding obligations.
In other recent news, MicroStrategy has announced a new preferred stock offering, issuing 8.5 million shares of its "10.00% Series A Perpetual Strife Preferred Stock." This issuance is expected to bring in net proceeds of approximately $711.2 million, with the funds earmarked for general corporate purposes, including further Bitcoin acquisitions. The company has also recently sold 1,975,000 shares of its Class A common stock and 13,100 shares of its 8.00% series A perpetual strike preferred stock, raising net proceeds of about $592.6 million and $1.1 million, respectively. These proceeds were utilized to purchase approximately 6,911 bitcoins, bringing MicroStrategy’s total Bitcoin holdings to roughly 506,137 bitcoins.
Bernstein SocGen Group has maintained an Outperform rating on MicroStrategy, with a price target of $600, citing the company’s updated capital structure and increased Bitcoin holdings as factors. The firm emphasized MicroStrategy’s significant expansion of its Bitcoin portfolio, which now represents about 2.4% of the global Bitcoin supply. In a recent analysis, Monness Crespi Hardt initiated coverage on MicroStrategy with a Neutral rating and a $200 price target, expressing concerns about market saturation and the costs associated with preferred stock issuances.
MicroStrategy’s aggressive strategy in the cryptocurrency market continues to attract attention, as the company remains a notable player in the digital asset space. The firm’s recent financial maneuvers, including its stock sales and Bitcoin acquisitions, highlight its commitment to integrating cryptocurrency into its business model. With a substantial portion of its resources invested in Bitcoin, MicroStrategy’s business strategy and financial activities continue to impact its position in the global capital markets.
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