Mizuho Securities has reduced its price target for MicroStrategy (MSTR) stock from $320 to $265, a nearly 20% decrease, while still maintaining an Outperform rating. The brokerage highlighted that MicroStrategy holds approximately $2 billion in reserves, sufficient to cover about two years of dividends. Despite this cut, Mizuho anticipates that the company will return to profitability by 2026, projecting earnings per share (EPS) to exceed $54. Additionally, the firm adjusted its end-of-2027 Bitcoin price forecast down from $128,000 to $94,000. In a notable shift, co-founder Michael Saylor announced the sale of 32 BTC for roughly $2.5 million during late May, contradicting his earlier commitment to never sell Bitcoin. This sale follows a previous transaction in December 2022, where the company sold 704 BTC. Despite the recent sale, MicroStrategy remains the largest Bitcoin treasury firm, holding 843,706 BTC as of May 31. Following these announcements, MSTR stock experienced a nearly 6% decline, closing at $149.78.