Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Blackstone Inc shares valued at $27,845,378 were sold by BX Buzz ML-1 GP LLC on Mar 03 ’24. At $11.10 per share, BX Buzz ML-1 GP LLC sold 2,509,316 shares. The insider’s holdings dropped to 12,802 shares worth approximately $1.54 million following the completion of this transaction.
Also, Brown Reginald J purchased 2,400 shares, netting a total of over 301,500 in proceeds. Following the buying of shares at $125.62 each, the insider now holds 16,949 shares.
Before that, Blackstone Inc. had sold 24,276,100 shares from its account. In a trade valued at $292,405,624, the 10% Owner traded Blackstone Inc shares for $12.04 each. Upon closing the transaction, the insider’s holdings decreased to 24,276,100 shares, worth approximately $12.91 million.
As published in a research note from UBS on April 02, 2024, Blackstone Inc [BX] has been rated down from a Buy to a Neutral and the price target has been revised to $135 from $140. Analysts at Citigroup downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid January. As of January 11, 2024, Oppenheimer has decreased its “an Outperform” rating to a “Perform” for BX. Earlier on January 04, 2024, TD Cowen initiated its rating. Their recommendation was “a Market perform” for BX stock.
Analyzing BX Stock Performance
During the last five days, there has been a drop of approximately -5.16%. Over the course of the year, Blackstone Inc shares have dropped approximately -7.64%. Shares of the company reached a 52-week high of $133.56 on 03/21/24 and a 52-week low of $114.88 on 01/17/24. A 50-day SMA is recorded $126.54, while a 200-day SMA reached $113.31. Nevertheless, trading volume fell to 5.7 million shares from 3.54 million shares the previous day.
Support And Resistance Levels for Blackstone Inc (BX)
According to the 24-hour chart, there is a support level at 118.44, which, if violated, would cause prices to drop to 116.55. In the upper region, resistance lies at 122.83. The next price resistance is at 125.33. RSI (Relative Strength Index) is 39.56 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.05, which suggests the price will decrease in the coming days. Percent R is at 90.33%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
