Cypress Point Wealth Management LLC Has $222,000 Stock Position in Blackstone Inc. (NYSE:BX)

Cypress Point Wealth Management LLC reduced its stake in shares of Blackstone Inc. (NYSE:BX) by 11.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,290 shares of the asset manager’s stock after selling 173 shares during the quarter. Cypress Point Wealth Management LLC’s holdings in Blackstone were worth $222,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Thrivent Financial for Lutherans raised its position in Blackstone by 2.4% during the second quarter. Thrivent Financial for Lutherans now owns 44,614 shares of the asset manager’s stock valued at $5,524,000 after acquiring an additional 1,036 shares in the last quarter. Marshall Wace LLP raised its position in shares of Blackstone by 3,074.1% in the second quarter. Marshall Wace LLP now owns 107,064 shares of the asset manager’s stock valued at $13,255,000 after purchasing an additional 103,691 shares during the period. AXA S.A. raised its position in shares of Blackstone by 17.6% in the second quarter. AXA S.A. now owns 34,772 shares of the asset manager’s stock valued at $4,305,000 after purchasing an additional 5,214 shares during the period. AQR Capital Management LLC raised its position in shares of Blackstone by 123.6% in the second quarter. AQR Capital Management LLC now owns 19,812 shares of the asset manager’s stock valued at $2,453,000 after purchasing an additional 10,952 shares during the period. Finally, Maverick Capital Ltd. bought a new position in shares of Blackstone in the second quarter valued at approximately $350,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Stock Up 0.7 %

BX opened at $186.79 on Friday. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The firm’s fifty day moving average price is $180.90 and its two-hundred day moving average price is $160.35. The company has a market capitalization of $134.86 billion, a P/E ratio of 64.19, a P/E/G ratio of 1.22 and a beta of 1.53.

Insider Activity

In other news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the sale, the insider now owns 387,137 shares in the company, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on BX. Barclays dropped their price target on shares of Blackstone from $199.00 to $192.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. BMO Capital Markets raised their price objective on shares of Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. The Goldman Sachs Group raised their price objective on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Evercore ISI raised their price objective on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, StockNews.com upgraded shares of Blackstone from a “hold” rating to a “buy” rating in a research note on Tuesday, January 21st. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $169.56.

Blackstone Company 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.