Next Level Private LLC Sells 1,049 Shares of Blackstone Inc. (NYSE:BX)

Next Level Private LLC trimmed its stake in shares of Blackstone Inc. (NYSE:BX) by 3.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,658 shares of the asset manager’s stock after selling 1,049 shares during the quarter. Blackstone makes up 2.2% of Next Level Private LLC’s investment portfolio, making the stock its 12th largest position. Next Level Private LLC’s holdings in Blackstone were worth $5,459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Sather Financial Group Inc grew its position in shares of Blackstone by 202.5% in the 3rd quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock worth $926,000 after buying an additional 4,050 shares during the last quarter. Portside Wealth Group LLC bought a new stake in shares of Blackstone in the 3rd quarter worth approximately $201,000. Aljian Capital Management LLC bought a new stake in shares of Blackstone in the 3rd quarter worth approximately $1,951,000. Icon Wealth Advisors LLC boosted its position in shares of Blackstone by 2,185.4% during the third quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock valued at $2,901,000 after purchasing an additional 18,117 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of Blackstone by 3.2% during the third quarter. PNC Financial Services Group Inc. now owns 1,169,526 shares of the asset manager’s stock valued at $179,089,000 after purchasing an additional 36,343 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors.

Blackstone Stock Down 2.2 %

BX stock opened at $182.59 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96. The stock has a market capitalization of $131.83 billion, a P/E ratio of 62.75, a P/E/G ratio of 1.22 and a beta of 1.53. The business has a fifty day moving average price of $180.90 and a 200-day moving average price of $160.88.

Insider Buying and Selling

In related news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value 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 $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Citigroup lifted their price target on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Piper Sandler lifted their price target on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Evercore ISI lifted their price target on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Bank of America lifted their price objective on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, BMO Capital Markets lifted their price objective on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Blackstone currently has a consensus rating of “Hold” and a consensus 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.