Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Blackrock Inc. shares valued at $25,089,571 were sold by FINK LAURENCE on Feb 28 ’24. At $809.92 per share, FINK LAURENCE sold 30,978 shares. The insider’s holdings dropped to 414,146 shares worth approximately $324.55 million following the completion of this transaction.
Also, Lord Rachel sold 36,059 shares, netting a total of over 29,498,473 in proceeds. Following the sale of shares at $818.06 each, the insider now holds 17,004 shares.
Before that, Wiedman Mark had sold 240 shares from its account. In a trade valued at $197,207, the Senior Managing Director traded Blackrock Inc. shares for $821.69 each. Upon closing the transaction, the insider’s holdings decreased to 240 shares, worth approximately $5.08 million.
As published in a research note from TD Cowen on January 16, 2024, Blackrock Inc. [BLK] has been rated up from a Market perform to an Outperform and the price target has been revised to $938 from $819. Analysts at JP Morgan downgraded the stock from ‘”an Overweight”‘ to ‘”a Neutral”‘ outlook in a report released in mid December. As of December 12, 2023, Exane BNP Paribas has increased its “Neutral” rating to a “an Outperform” for BLK. Earlier on July 10, 2023, Keefe Bruyette upgraded its rating. Their new recommendation was “an Outperform” for BLK stock which previously was a “a Mkt perform”.
Analyzing BLK Stock Performance
During the last five days, there has been a drop of approximately -3.82%. Over the course of the year, Blackrock Inc. shares have dropped approximately -3.47%. Shares of the company reached a 52-week high of $845.00 on 03/08/24 and a 52-week low of $765.63 on 02/01/24. A 50-day SMA is recorded $807.97, while a 200-day SMA reached $734.30. Nevertheless, trading volume fell to 0.65 million shares from 0.76 million shares the previous day.
Support And Resistance Levels for Blackrock Inc. (BLK)
According to the 24-hour chart, there is a support level at 778.01, which, if violated, would cause prices to drop to 772.36. In the upper region, resistance lies at 792.21. The next price resistance is at 800.77. RSI (Relative Strength Index) is 38.21 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -18.10, which suggests the price will decrease in the coming days. Percent R is at 95.72%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Blackrock Inc. subject to short interest?
Stocks of Blackrock Inc. saw a sharp rise in short interest on Mar 28, 2024 jumping by 0.24 million shares to 1.82 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 1.58 million shares. A jump of 13.19% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.11 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.11.
