Goldman Sachs Group Inc. Purchases 432,023 Shares of BlackSky Technology Inc. $BKSY

Goldman Sachs Group Inc. lifted its position in shares of BlackSky Technology Inc. (NYSE:BKSY) by 343.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 557,729 shares of the company’s stock after purchasing an additional 432,023 shares during the period. Goldman Sachs Group Inc. owned 1.76% of BlackSky Technology worth $4,311,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Northern Trust Corp grew its stake in BlackSky Technology by 89.1% during the fourth quarter. Northern Trust Corp now owns 202,153 shares of the company’s stock valued at $2,181,000 after acquiring an additional 95,228 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in BlackSky Technology by 22.7% in the 4th quarter. BNP Paribas Financial Markets now owns 3,691 shares of the company’s stock worth $40,000 after purchasing an additional 683 shares in the last quarter. Bank of America Corp DE grew its position in shares of BlackSky Technology by 194.0% in the 4th quarter. Bank of America Corp DE now owns 23,163 shares of the company’s stock worth $250,000 after buying an additional 15,285 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of BlackSky Technology by 93.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,159 shares of the company’s stock worth $153,000 after buying an additional 6,835 shares during the period. Finally, Nuveen Asset Management LLC grew its position in shares of BlackSky Technology by 20.5% in the 4th quarter. Nuveen Asset Management LLC now owns 72,890 shares of the company’s stock worth $786,000 after buying an additional 12,378 shares during the period. Institutional investors own 27.15% of the company’s stock.

Insider Transactions at BlackSky Technology

In related news, CAO Christiana L. Lin sold 24,036 shares of the stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $17.45, for a total value of $419,428.20. Following the completion of the transaction, the chief accounting officer directly owned 402,652 shares of the company’s stock, valued at approximately $7,026,277.40. This represents a 5.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Henry Edward Dubois sold 31,646 shares of the firm’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $17.45, for a total value of $552,222.70. Following the completion of the sale, the chief financial officer directly owned 474,582 shares of the company’s stock, valued at $8,281,455.90. This trade represents a 6.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,694 shares of company stock valued at $1,565,160 in the last three months. 3.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Canaccord Genuity Group cut their price objective on shares of BlackSky Technology from $28.00 to $27.00 and set a “buy” rating on the stock in a research report on Tuesday, July 22nd. Lake Street Capital raised their price objective on shares of BlackSky Technology from $18.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Wall Street Zen cut shares of BlackSky Technology from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 9th. Finally, HC Wainwright lifted their price objective on shares of BlackSky Technology from $20.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, July 21st. Six research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $23.50.

BlackSky Technology Price Performance

Shares of NYSE BKSY opened at $19.15 on Thursday. The business’s 50 day moving average price is $19.05 and its 200 day moving average price is $13.90. The firm has a market cap of $679.25 million, a P/E ratio of -5.70 and a beta of 2.15. BlackSky Technology Inc. has a 52 week low of $3.86 and a 52 week high of $28.85. The company has a quick ratio of 3.71, a current ratio of 3.71 and a debt-to-equity ratio of 1.35.

BlackSky Technology (NYSE:BKSY) last issued its earnings results on Thursday, August 7th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.03). The firm had revenue of $22.20 million during the quarter, compared to analysts’ expectations of $22.17 million. BlackSky Technology had a negative net margin of 82.04% and a negative return on equity of 52.27%. BlackSky Technology has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that BlackSky Technology Inc. will post -2.28 earnings per share for the current year.

BlackSky Technology Profile

BlackSky Technology Inc provides geospatial intelligence, imagery and related data analytic products and services, and mission systems that include the development, integration, and operation of satellite and ground systems for government and commercial customers in North America, the Middle East, the Asia Pacific, and internationally.