Blackstone (NYSE:BX – Get Free Report) had its price target raised by investment analysts at Morgan Stanley from $164.00 to $177.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the asset manager’s stock. Morgan Stanley’s price objective would indicate a potential upside of 15.65% from the company’s current price.
Several other equities research analysts also recently issued reports on BX. Wells Fargo & Company boosted their price objective on Blackstone from $163.00 to $169.00 and gave the company an “overweight” rating in a report on Wednesday. TD Cowen increased their price target on shares of Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a research report on Friday, July 19th. The Goldman Sachs Group lifted their price objective on shares of Blackstone from $130.00 to $135.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft raised their price target on shares of Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Finally, Barclays lifted their price objective on Blackstone from $141.00 to $155.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Twelve research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $135.00.
Get Our Latest Stock Report on BX
Blackstone Stock Performance
Blackstone (NYSE:BX – Get Free Report) last posted its earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.03). The firm had revenue of $3.69 billion during the quarter, compared to analyst estimates 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 previous year, the firm earned $0.93 earnings per share. On average, research analysts predict that Blackstone will post 4.46 EPS for the current year.
Insider Activity at Blackstone
In related news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction dated Tuesday, October 1st. The stock was 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 in the company, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total value of $17,561,522.88. Following the transaction, the director now directly owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the transaction, the insider now directly owns 429,386 shares in the company, valued at $56,567,311.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.
Institutional Trading of Blackstone
Several large investors have recently bought and sold shares of the company. Chilton Capital Management LLC bought a new stake in shares of Blackstone in the 1st quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Blackstone in the 2nd quarter valued at approximately $26,000. EdgeRock Capital LLC bought a new position in Blackstone during the second quarter worth $27,000. West Financial Advisors LLC bought a new stake in Blackstone during the third quarter valued at $27,000. Finally, Bank & Trust Co acquired a new position in shares of Blackstone in the 2nd quarter valued at about $29,000. Institutional investors and hedge funds 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.
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