Capital Group increased its investment in MicroStrategy through its American Funds Fundamental Investors (ANCFX). The firm purchased 4.32 million additional MSTR shares. This acquisition is valued at approximately $747 million. Total holdings now reach 10.33 million shares worth about $1.78 billion.
MicroStrategy recently acquired another 34,164 bitcoins. Wall Street sentiment remains generally positive toward the company. Some analysts cite concerns regarding depleting cash reserves. Critics also point to the firm's reliance on stock issuance to fund bitcoin purchases.
Cantor Fitzgerald reiterated its Overweight rating on MSTR today. The firm raised its price target from $192 to $212.