The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Blackstone Inc shares valued at $26,192 were purchased by Porat Ruth on May 06 ’24. At $119.48 per share, Porat Ruth acquired 219 shares. The insider’s holdings grew to 34,445 shares worth approximately $4.24 million following the completion of this transaction.
Also, Porat Ruth purchased 58 shares, netting a total of over 6,929 in proceeds. Following the buying of shares at $119.95 each, the insider now holds 8,406 shares.
Before that, BX Buzz ML-1 GP LLC had sold 2,509,316 shares from its account. In a trade valued at $27,845,378, the 10% Owner traded Blackstone Inc shares for $11.10 each. Upon closing the transaction, the insider’s holdings decreased to 2,509,316 shares, worth approximately $1.58 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 surge of approximately 3.40%. Over the course of the year, Blackstone Inc shares have dropped approximately -5.22%. 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 $124.65, while a 200-day SMA reached $114.79. Nevertheless, trading volume fell to 5.94 million shares from 3.23 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 120.07, which, if violated, would cause prices to drop to 117.10. In the upper region, resistance lies at 124.74. The next price resistance is at 126.44. RSI (Relative Strength Index) is 51.90 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.50, which suggests the price will decrease in the coming days. Percent R is at 26.43%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
