Blackstone (NYSE:BX) PT Raised to $135.00

Blackstone (NYSE:BX) had its price target hoisted by The Goldman Sachs Group from $130.00 to $135.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the asset manager’s stock. The Goldman Sachs Group’s price objective suggests a potential downside of 11.15% from the company’s current price.

BX has been the subject of several other reports. TD Cowen raised their target price on shares of Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a report on Friday, July 19th. Barclays raised their target price on shares of Blackstone from $126.00 to $141.00 and gave the company an “equal weight” rating in a report on Friday, July 19th. Redburn Atlantic began coverage on shares of Blackstone in a report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 target price for the company. Piper Sandler raised their target price on shares of Blackstone from $134.00 to $149.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $131.17.

Blackstone Stock Up 0.5 %

Shares of Blackstone stock opened at $151.94 on Thursday. The firm has a fifty day moving average of $142.63 and a two-hundred day moving average of $131.34. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77. The company has a market cap of $108.58 billion, a P/E ratio of 53.69, a PEG ratio of 1.34 and a beta of 1.51. Blackstone has a one year low of $88.59 and a one year high of $161.25.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). The company had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The business’s revenue for the quarter was up 166.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.93 EPS. On average, analysts forecast that Blackstone will post 4.57 earnings per share for the current year.

Insider Buying and Selling

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the transaction, the director now directly owns 799,749 shares of the company’s stock, valued at $120,610,146.69. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Blackstone news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the transaction, the director now directly owns 799,749 shares of the company’s stock, valued at $120,610,146.69. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the transaction, the insider now directly owns 429,386 shares in the company, valued at approximately $56,567,311.64. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Blackstone

Hedge funds have recently made changes to their positions in the company. Chilton Capital Management LLC purchased a new stake in shares of Blackstone during the first quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Blackstone during the second quarter valued at approximately $26,000. EdgeRock Capital LLC bought a new stake in shares of Blackstone in the second quarter worth $27,000. Bank & Trust Co bought a new stake in shares of Blackstone in the second quarter worth $29,000. Finally, Ridgewood Investments LLC bought a new stake in shares of Blackstone in the second quarter worth $31,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

About Blackstone

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.