A filing with the Securities and Exchange Commission on January 12 showed that Carl Rickertsen, a director at MicroStrategy, bought 5,000 shares of the company.
Rickertsen paid $155.879 per share, totaling $779,395. The filing's Code P indicates the purchase occurred on an open or private market.
According to Insider Screener, this marks his first acquisition of MicroStrategy shares since July 13, 2022, when he bought 4,000 shares for $608,000. In the intervening years, he had only sold shares until this transaction.
The purchase came shortly after MicroStrategy avoided being removed from MSCI indices. MSCI had considered delisting crypto treasuries with over 50% of their balance sheets in cryptocurrencies, a criterion that remains for future reviews.
MicroStrategy, which holds 687,410 Bitcoin as of January 11, ties its stock performance to Bitcoin's price. Over the last three months, Bitcoin fell 15%, while MicroStrategy dropped more than 40%.
Recently, Clear Street analyst Brian Dobson reduced the price target on MicroStrategy from $443 to $268 but kept a "Buy" rating, describing it as a vehicle for leveraged Bitcoin exposure.
At press time, MicroStrategy stock traded at $172.40, up over 6% for the day.