Oppenheimer Lowers Blackstone (NYSE:BX) Price Target to $139.00

Blackstone (NYSE:BX) had its target price decreased by equities researchers at Oppenheimer from $156.00 to $139.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the asset manager’s stock. Oppenheimer’s target price suggests a potential upside of 9.13% from the company’s current price.

Several other equities analysts have also weighed in on the stock. Weiss Ratings lowered shares of Blackstone from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. Jefferies Financial Group upped their price objective on shares of Blackstone from $143.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Rothschild & Co Redburn decreased their price target on Blackstone from $134.00 to $130.00 and set a “neutral” rating for the company in a research note on Tuesday, June 9th. BNP Paribas Exane reduced their target price on Blackstone from $126.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. Finally, HSBC lowered their price target on Blackstone from $164.00 to $131.00 and set a “hold” rating on the stock in a report on Friday, April 10th. Thirteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, Blackstone presently has a consensus rating of “Moderate Buy” and an average target price of $145.52.

Blackstone Stock Down 1.2%

Shares of NYSE:BX traded down $1.60 during trading on Friday, reaching $127.37. 1,514,146 shares of the company traded hands, compared to its average volume of 6,758,345. Blackstone has a 1-year low of $101.73 and a 1-year high of $190.09. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.66. The firm has a market cap of $94.62 billion, a P/E ratio of 32.61, a price-to-earnings-growth ratio of 1.37 and a beta of 1.58. The firm has a fifty day simple moving average of $119.85 and a 200 day simple moving average of $125.90.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. The firm had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.45 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.11 earnings per share. Analysts anticipate that Blackstone will post 5.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the completion of the transaction, the insider owned 19,374 shares of the company’s stock, valued at approximately $73,233.72. This represents a 99.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Treasury Holdings I. Blackstone bought 9,486,795 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were purchased at an average cost of $20.00 per share, for a total transaction of $189,735,900.00. Following the completion of the transaction, the insider owned 9,111,800 shares of the company’s stock, valued at $182,236,000. This represents a -2,529.85% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 10,252,345 shares of company stock valued at $209,789,893 in the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Blackstone

Institutional investors and hedge funds have recently modified their holdings of the company. Strive Asset Management LLC acquired a new stake in Blackstone during the third quarter worth $30,000. Family CFO Inc acquired a new stake in shares of Blackstone during the 4th quarter valued at about $28,000. Ares Financial Consulting LLC bought a new stake in Blackstone in the fourth quarter valued at about $28,000. Richardson Financial Services Inc. acquired a new stake in Blackstone during the fourth quarter valued at approximately $29,000. Finally, Kelleher Financial Advisors bought a new stake in shares of Blackstone in the 3rd quarter valued at approximately $34,000. 70.00% of the stock is currently owned by institutional investors.

Key Stories Impacting Blackstone

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone expanded its AI and infrastructure strategy, helping support the bull case. The firm helped launch Ode with Anthropic, an AI services venture aimed at enterprise deployment, and also hired Ami Momaya to lead a new India infrastructure platform in Asia-Pacific. Is Blackstone (BX) Quietly Rewriting Its AI and Infrastructure Playbook With Ode and India?
• Positive Sentiment: Multiple articles highlighted that Blackstone (BX) may be set up to beat earnings estimates again next week, citing its strong earnings-surprise history and earnings growth expectations. Why Blackstone Inc. (BX) is Poised to Beat Earnings Estimates Again
• Positive Sentiment: Investor sentiment also looks supported by coverage pointing to Blackstone’s earnings and price momentum, plus its appeal as a dividend and infrastructure play tied to data centers and AI-related demand.
• Neutral Sentiment: JPMorgan cut its price target on Blackstone (BX) from $136 to $132 and kept a neutral rating. That is a modestly cautious signal, but the new target still sits above the current share price, so it may not be a major drag. Blackstone had its price target lowered by JPMorgan Chase & Co.

Blackstone Company Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.