Patten Sells Another 1500 MSTR Stocks Amid MicroStrategy's Volatile Stock Price

MicroStrategy's Strategy Director Jarrod Patten has made another significant sale of the company's Class A common shares. The latest SEC filing reveals that he sold 1,500 MSTR stocks on the open market at $134 earlier this week, making a profit of $200,951.

This is Patten's first sale since Michael Saylor's announcement last month that MicroStrategy would sell 32 Bitcoin to pay STRC dividends. The company's stock price has been under pressure due to falling Bitcoin prices and lower analyst forecasts.

Patten has sold a total of 55,750 MSTR stocks in the last three months, making almost $9 million in profit from these sales. He still owns 28,406 Class A common shares, positions in various Series A perpetual preferred stocks, and 44,250 remaining director stock options.

The company's stock price has been volatile, closing 5.09% lower at $116.56 on Wednesday amid a broader selloff in US stock and crypto markets. However, it is trading 1.23% higher today at $117.90 in the premarket hours.