Ridgecrest Wealth Partners LLC Sells 1,511 Shares of Blackstone Inc. (NYSE:BX)

Ridgecrest Wealth Partners LLC lessened its stake in shares of Blackstone Inc. (NYSE:BX) by 54.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,240 shares of the asset manager’s stock after selling 1,511 shares during the quarter. Ridgecrest Wealth Partners LLC’s holdings in Blackstone were worth $214,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in BX. International Assets Investment Management LLC lifted its position in Blackstone by 15,357.3% during the third quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock valued at $6,433,220,000 after acquiring an additional 4,173,971 shares during the last quarter. Castleark Management LLC purchased a new stake in shares of Blackstone during the 3rd quarter valued at $67,472,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Blackstone by 7,917.6% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 400,000 shares of the asset manager’s stock worth $49,520,000 after buying an additional 395,011 shares during the last quarter. State Street Corp raised its stake in Blackstone by 1.2% in the third quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock valued at $4,597,028,000 after buying an additional 348,751 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Blackstone by 2.3% during the third quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock worth $2,272,227,000 after acquiring an additional 336,308 shares during the last quarter. 70.00% of the stock is owned by institutional investors.

Blackstone Price Performance

Shares of Blackstone stock opened at $186.79 on Monday. The firm has a market cap of $134.86 billion, a PE ratio of 64.19, a P/E/G ratio of 1.22 and a beta of 1.53. The business has a 50-day moving average price of $180.90 and a 200 day moving average price of $160.88. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96.

Insider Activity

In other news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the sale, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on BX. JPMorgan Chase & Co. lifted their target price on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. StockNews.com raised Blackstone from a “hold” rating to a “buy” rating in a research report on Tuesday, January 21st. Cowen reaffirmed a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Keefe, Bruyette & Woods reduced their price objective on Blackstone from $175.00 to $174.00 and set a “market perform” rating for the company in a research note on Monday, January 13th. Finally, Wells Fargo & Company cut their price target on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $169.56.

Blackstone 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.