Charles Schwab Investment Management Inc. decreased its stake in shares of BlackSky Technology Inc. (NYSE:BKSY - Free Report) by 87.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 95,442 shares of the company's stock after selling 644,732 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.51% of BlackSky Technology worth $452,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the stock. Squarepoint Ops LLC bought a new position in BlackSky Technology during the second quarter valued at approximately $295,000. Perkins Capital Management Inc. purchased a new stake in BlackSky Technology during the 3rd quarter valued at $1,114,000. Finally, Thompson Siegel & Walmsley LLC bought a new position in shares of BlackSky Technology during the 3rd quarter valued at $3,674,000. Hedge funds and other institutional investors own 27.15% of the company's stock.
Insiders Place Their Bets
In related news, CAO Christiana L. Lin sold 5,550 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $10.65, for a total transaction of $59,107.50. Following the completion of the sale, the chief accounting officer now owns 354,143 shares in the company, valued at approximately $3,771,622.95. This trade represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Henry Edward Dubois sold 7,938 shares of BlackSky Technology stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $10.65, for a total value of $84,539.70. Following the sale, the chief financial officer now directly owns 420,779 shares in the company, valued at $4,481,296.35. This trade represents a 1.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,086 shares of company stock worth $245,866 over the last three months. 4.50% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of analysts recently commented on BKSY shares. Lake Street Capital upped their price objective on BlackSky Technology from $4.00 to $32.00 and gave the company a "buy" rating in a research report on Monday, September 30th. Craig Hallum raised shares of BlackSky Technology from a "hold" rating to a "buy" rating and set a $10.00 price target for the company in a research report on Friday, October 4th. Oppenheimer started coverage on shares of BlackSky Technology in a research note on Wednesday, October 2nd. They issued an "outperform" rating and a $10.00 price objective on the stock. Finally, HC Wainwright cut their target price on shares of BlackSky Technology from $15.00 to $12.00 and set a "buy" rating for the company in a research report on Wednesday, October 16th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $17.60.
Read Our Latest Stock Analysis on BlackSky Technology
BlackSky Technology Stock Performance
NYSE:BKSY traded up $0.17 during mid-day trading on Friday, hitting $10.67. 3,130,319 shares of the company traded hands, compared to its average volume of 363,242. The company has a quick ratio of 5.68, a current ratio of 5.68 and a debt-to-equity ratio of 0.89. The stock's fifty day moving average price is $8.86 and its 200-day moving average price is $8.14. The firm has a market cap of $328.41 million, a price-to-earnings ratio of -4.72 and a beta of 1.15. BlackSky Technology Inc. has a one year low of $3.86 and a one year high of $14.16.
BlackSky Technology (NYSE:BKSY - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.05). The company had revenue of $22.55 million for the quarter, compared to the consensus estimate of $26.93 million. BlackSky Technology had a negative net margin of 38.83% and a negative return on equity of 49.91%. During the same quarter last year, the firm posted ($0.96) earnings per share. Research analysts anticipate that BlackSky Technology Inc. will post -2.28 earnings per share for the current fiscal year.
BlackSky Technology Profile
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Free Report)
BlackSky Technology Inc provides geospatial intelligence, imagery and related data analytic products and services, and mission systems that include the development, integration, and operation of satellite and ground systems for government and commercial customers in North America, the Middle East, the Asia Pacific, and internationally.
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