Blackstone Inc. (NYSE:BX) Shares Sold by Spinnaker Investment Group LLC

Spinnaker Investment Group LLC lowered its position in shares of Blackstone Inc. (NYSE:BX) by 13.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,563 shares of the asset manager’s stock after selling 242 shares during the quarter. Spinnaker Investment Group LLC’s holdings in Blackstone were worth $269,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Glen Eagle Advisors LLC grew its position in shares of Blackstone by 1.8% in the 3rd quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock valued at $498,000 after buying an additional 59 shares during the last quarter. Investmark Advisory Group LLC increased its position in shares of Blackstone by 2.4% during the third quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock worth $399,000 after purchasing an additional 60 shares in the last quarter. Raleigh Capital Management Inc. boosted its position in shares of Blackstone by 32.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 62 shares during the period. Capital Advisors Ltd. LLC increased its position in Blackstone by 2.3% during the third quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock worth $427,000 after buying an additional 62 shares during the period. Finally, Fidelis Capital Partners LLC boosted its holdings in shares of Blackstone by 2.7% in the third quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock valued at $396,000 after acquiring an additional 62 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Stock Up 1.5 %

BX opened at $185.56 on Friday. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96. The company has a market cap of $133.98 billion, a price-to-earnings ratio of 63.77, a PEG ratio of 1.21 and a beta of 1.53. The business’s fifty day moving average is $180.71 and its two-hundred day moving average is $159.71. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71.

Insider Buying and Selling

In related news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the transaction, the insider now directly owns 387,137 shares in the company, valued at $68,112,883.78. The trade was a 9.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BX. Barclays reduced their price target on shares of Blackstone from $199.00 to $192.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Piper Sandler raised their price target on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Citigroup increased their price objective on Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. UBS Group upped their price target on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley boosted their price objective on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $169.56.

Blackstone Company Profile

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.