Goldman Sachs Group Inc. Purchases 432,023 Shares of BlackSky Technology Inc. $BKSY

Key Points

• Goldman Sachs Group Inc. increased its shares in BlackSky Technology by 343.7%, acquiring an additional 432,023 shares to reach a total of 557,729 shares valued at approximately $4.31 million.
• Other hedge funds have also shown positive activity, with Northern Trust Corp increasing its stake by 89.1% in the fourth quarter, and Bank of America Corp DE boosting its position by 194.0%.
• BlackSky Technology's shares recently reported earnings results with a loss per share of ($0.52), missing analysts' estimates while revenue was slightly above expectations at $22.2 million.

Goldman Sachs Group Inc. boosted its position in shares of BlackSky Technology Inc. (NYSE:BKSY - Free Report) by 343.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 557,729 shares of the company's stock after purchasing an additional 432,023 shares during the period. Goldman Sachs Group Inc. owned 1.76% of BlackSky Technology worth $4,311,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its position in shares of BlackSky Technology by 22.7% in the fourth quarter. BNP Paribas Financial Markets now owns 3,691 shares of the company's stock worth $40,000 after buying an additional 683 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of BlackSky Technology by 14,829.2% in the first quarter. GAMMA Investing LLC now owns 7,166 shares of the company's stock worth $55,000 after buying an additional 7,118 shares during the last quarter. New York State Common Retirement Fund lifted its position in shares of BlackSky Technology by 217.0% in the first quarter. New York State Common Retirement Fund now owns 8,765 shares of the company's stock worth $68,000 after buying an additional 6,000 shares during the last quarter. Brown Advisory Inc. acquired a new stake in shares of BlackSky Technology in the first quarter worth about $98,000. Finally, AQR Capital Management LLC acquired a new stake in shares of BlackSky Technology in the first quarter worth about $103,000. Institutional investors and hedge funds own 27.15% of the company's stock.

Insiders Place Their Bets

In other BlackSky Technology news, CAO Christiana L. Lin sold 24,036 shares of the stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $17.45, for a total transaction of $419,428.20. Following the completion of the transaction, the chief accounting officer owned 402,652 shares in the company, valued at approximately $7,026,277.40. This represents a 5.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Henry Edward Dubois sold 31,646 shares of the firm's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $17.45, for a total value of $552,222.70. Following the completion of the transaction, the chief financial officer owned 474,582 shares of the company's stock, valued at $8,281,455.90. The trade was a 6.25% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 89,694 shares of company stock worth $1,565,160. Corporate insiders own 3.80% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on BKSY. Lake Street Capital boosted their price target on BlackSky Technology from $18.00 to $28.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. HC Wainwright boosted their price objective on BlackSky Technology from $20.00 to $28.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Canaccord Genuity Group cut their price objective on BlackSky Technology from $28.00 to $27.00 and set a "buy" rating for the company in a research report on Tuesday, July 22nd. Finally, Wall Street Zen cut BlackSky Technology from a "hold" rating to a "strong sell" rating in a research report on Saturday, August 9th. Six equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, BlackSky Technology currently has an average rating of "Buy" and an average target price of $23.50.

BlackSky Technology Stock Performance

BKSY traded up $1.62 on Friday, hitting $21.05. 3,623,105 shares of the stock traded hands, compared to its average volume of 1,691,361. BlackSky Technology Inc. has a 52 week low of $3.86 and a 52 week high of $28.85. The firm has a market capitalization of $746.64 million, a PE ratio of -6.26 and a beta of 2.16. The business has a fifty day moving average price of $18.94 and a two-hundred day moving average price of $14.04. The company has a current ratio of 3.71, a quick ratio of 3.71 and a debt-to-equity ratio of 1.35.

BlackSky Technology (NYSE:BKSY - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.52) EPS for the quarter, missing analysts' consensus estimates of ($0.49) by ($0.03). BlackSky Technology had a negative return on equity of 52.27% and a negative net margin of 82.04%.The business had revenue of $22.20 million for the quarter, compared to the consensus estimate of $22.17 million. BlackSky Technology has set its FY 2025 guidance at EPS. On average, research analysts predict that BlackSky Technology Inc. will post -2.28 EPS for the current fiscal year.

BlackSky Technology Profile

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.