Alpha Cubed Investments LLC Sells 71 Shares of Blackstone Inc. (NYSE:BX)

Alpha Cubed Investments LLC trimmed its stake in shares of Blackstone Inc. (NYSE:BX) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,003 shares of the asset manager’s stock after selling 71 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Blackstone were worth $863,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Bangor Savings Bank boosted its stake in Blackstone by 187.5% in the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 105 shares during the period. West Financial Advisors LLC acquired a new position in shares of Blackstone in the third quarter valued at about $27,000. Kieckhefer Group LLC acquired a new stake in Blackstone in the 4th quarter worth about $39,000. Raleigh Capital Management Inc. grew its position in shares of Blackstone by 32.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after purchasing an additional 62 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. raised its position in shares of Blackstone by 57.7% in the third quarter. Hazlett Burt & Watson Inc. now owns 276 shares of the asset manager’s stock valued at $43,000 after buying an additional 101 shares in the last quarter. 70.00% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Blackstone news, insider John G. Finley sold 42,249 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the sale, the insider now owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This represents a 9.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on BX shares. Citigroup upped their target price on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. The Goldman Sachs Group increased their price objective on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and upped their price target for the stock from $149.00 to $230.00 in a report on Monday, December 9th. Piper Sandler boosted their price objective on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Finally, Wells Fargo & Company decreased their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $169.56.

Blackstone Price Performance

BX stock opened at $180.00 on Tuesday. The company has a market capitalization of $129.96 billion, a P/E ratio of 61.86, a PEG ratio of 1.20 and a beta of 1.53. Blackstone Inc. has a 52-week low of $115.63 and a 52-week high of $200.96. The company has a fifty day moving average price of $180.67 and a 200-day moving average price of $159.13. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71.

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.