BlackRock (NYSE:BLK) Stock: Insider Rachel Lord Sells 7,000 Shares

BlackRock (NYSE:BLK) Director Rachel Lord sold 7,000 shares of the company’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $1,219.55, for a total value of $8,536,850.00. Following the completion of the sale, the director owned 6,065 shares of the company’s stock, valued at approximately $7,396,570.75. This trade represents a 53.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

BlackRock Price Performance

BLK stock traded down $9.83 during trading hours on Thursday, hitting $1,216.48. 382,815 shares of the stock traded hands, compared to its average volume of 737,420. The stock has a 50-day simple moving average of $1,109.30 and a 200 day simple moving average of $1,066.82. The company has a market cap of $188.40 billion, a P/E ratio of 27.66, a P/E/G ratio of 1.27 and a beta of 1.37. BlackRock has a one year low of $917.39 and a one year high of $1,242.12. The company has a current ratio of 3.44, a quick ratio of 3.44 and a debt-to-equity ratio of 0.28.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Wednesday, October 14th. The asset manager reported $15.93 EPS for the quarter, topping the consensus estimate of $14.32 by $1.61. BlackRock had a net margin of 24.22% and a return on equity of 15.60%. The firm had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.42 billion. During the same period in the previous year, the business earned $8.43 earnings per share. BlackRock’s revenue for the quarter was up 19.1% compared to the same quarter last year. Equities analysts forecast that BlackRock will post 57.82 earnings per share for the current year.

More BlackRock News

Investors following BLK have been watching these news items:

• Positive Sentiment: BlackRock’s expansion in private markets, strategic acquisitions and record $15.49 trillion in assets under management are highlighted as potential long-term growth drivers. The report also notes rising expenses, which could limit the benefit. Article: BlackRock’s Private Markets Expansion: A Key Long-Term Growth Driver?
• Neutral Sentiment: BlackRock’s participation in a London forum on Ethereum reflects institutional attention to tokenization and blockchain settlement, but the report describes discussion and exploration rather than a specific new business or revenue commitment. Article: Ethereum Draws Wall Street Attention
• Negative Sentiment: BlackRock’s iShares Bitcoin Trust (IBIT) saw about $269.7 million in withdrawals on Nov. 11 and more than $2 billion in net outflows across nine sessions. Broader U.S. spot Bitcoin ETFs also recorded sustained redemptions. Continued withdrawals could reduce assets and fee revenue tied to the products. Article: BlackRock Bitcoin ETF outflows hit $2B over nine sessions

Institutional Trading of BlackRock

A number of hedge funds have recently bought and sold shares of BLK. BlackRock Inc. purchased a new stake in shares of BlackRock in the 2nd quarter valued at approximately $9,747,857,000. Temasek Holdings Private Ltd grew its position in BlackRock by 4.7% during the 1st quarter. Temasek Holdings Private Ltd now owns 5,330,492 shares of the asset manager’s stock worth $5,126,387,000 after purchasing an additional 237,667 shares in the last quarter. Bank of America Corp DE grew its position in BlackRock by 0.7% during the 1st quarter. Bank of America Corp DE now owns 5,232,973 shares of the asset manager’s stock worth $5,032,603,000 after purchasing an additional 35,069 shares in the last quarter. Wellington Management Group LLP raised its stake in BlackRock by 23.3% during the 2nd quarter. Wellington Management Group LLP now owns 4,495,074 shares of the asset manager’s stock valued at $4,322,283,000 after purchasing an additional 850,406 shares during the period. Finally, Santa Clara Valley Transportation Authority acquired a new stake in BlackRock during the 2nd quarter valued at $129,138,253,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on BLK. TD Cowen raised shares of BlackRock from a “hold” rating to a “buy” rating and increased their target price for the company from $1,212.00 to $1,405.00 in a research note on Tuesday, October 20th. Bank of America decreased their price target on shares of BlackRock from $1,320.00 to $1,287.00 in a research report on Monday, October 5th. Morgan Stanley increased their price objective on BlackRock from $1,468.00 to $1,531.00 and gave the company an “overweight” rating in a research report on Thursday, October 15th. UBS Group raised their price objective on BlackRock from $1,277.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Thursday, October 15th. Finally, Evercore reissued an “outperform” rating and set a $1,275.00 price objective (down from $1,300.00) on shares of BlackRock in a research note on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and a consensus price target of $1,342.25.

BlackRock Company Profile

BlackRock, Inc. is a global investment management and financial technology company serving individuals, institutions, governments and other organizations. Founded in 1988, the company is headquartered in New York City and operates in markets around the world. BlackRock offers investment products and services across asset classes, including equities, fixed income, cash management and alternative investments. Its offerings include exchange-traded funds and other funds under the iShares brand, as well as portfolio management, investment advisory and risk management services.