Insider Selling: BlackSky Technology (NYSE:BKSY) CEO Sells 20,000 Shares of Stock

Key Points

• CEO Brian O’Toole sold 20,000 BlackSky shares at an average price of $16.86, generating $337,200. The transaction, conducted under a Rule 10b5-1 plan, reduced his holdings by 1.92% to 1,023,396 shares.
• BlackSky shares fell 4.1% to $16.63, well below their 12-month high of $52.88. The company recently missed earnings expectations, reporting a loss of $0.54 per share despite revenue exceeding forecasts.
• Analyst sentiment is mixed, with ratings ranging from Strong Buy to Sell; MarketBeat reports a consensus Moderate Buy rating and a $39.33 price target. Institutional investors own 27.15% of the company.

BlackSky Technology Inc. (NYSE:BKSY - Get Free Report) CEO Brian O'toole sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $16.86, for a total value of $337,200.00. Following the completion of the transaction, the chief executive officer owned 1,023,396 shares of the company's stock, valued at approximately $17,254,456.56. The trade was a 1.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

BlackSky Technology Stock Down 4.1%

Shares of NYSE:BKSY traded down $0.72 during midday trading on Thursday, reaching $16.63. The company's stock had a trading volume of 700,758 shares, compared to its average volume of 1,581,175. BlackSky Technology Inc. has a 12-month low of $12.41 and a 12-month high of $52.88. The company has a quick ratio of 5.72, a current ratio of 5.83 and a debt-to-equity ratio of 0.94. The firm has a 50 day moving average of $22.52 and a 200-day moving average of $29.02. The firm has a market capitalization of $680.50 million, a P/E ratio of -9.14 and a beta of 2.70.

BlackSky Technology (NYSE:BKSY - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.54) earnings per share for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.16). The business had revenue of $33.32 million for the quarter, compared to the consensus estimate of $30.72 million. BlackSky Technology had a negative net margin of 61.24% and a negative return on equity of 51.24%. On average, research analysts anticipate that BlackSky Technology Inc. will post -1.09 earnings per share for the current year.

Institutional Investors Weigh In On BlackSky Technology

Several institutional investors and hedge funds have recently made changes to their positions in BKSY. Sei Investments Co. boosted its holdings in shares of BlackSky Technology by 125.5% during the 1st quarter. Sei Investments Co. now owns 65,650 shares of the company's stock valued at $1,652,000 after acquiring an additional 36,541 shares during the last quarter. Jasper Ridge Partners L.P. purchased a new stake in shares of BlackSky Technology in the 2nd quarter worth $2,087,000. Tema ETFs LLC raised its stake in shares of BlackSky Technology by 110,505.8% in the second quarter. Tema ETFs LLC now owns 1,446,724 shares of the company's stock worth $40,393,000 after buying an additional 1,445,416 shares during the period. Tidal Investments LLC bought a new stake in BlackSky Technology during the 2nd quarter worth approximately $39,289,000. Finally, Bank of America Corp DE raised its position in shares of BlackSky Technology by 156.1% during the 1st quarter. Bank of America Corp DE now owns 412,891 shares of the company's stock valued at $10,388,000 after purchasing an additional 251,638 shares during the period. Institutional investors own 27.15% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BKSY. Wall Street Zen upgraded BlackSky Technology from a "strong sell" rating to a "sell" rating in a report on Saturday, August 15th. Weiss Ratings reiterated a "sell (d-)" rating on shares of BlackSky Technology in a research note on Thursday, October 15th. Finally, Clear Str upgraded shares of BlackSky Technology from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, BlackSky Technology presently has an average rating of "Moderate Buy" and a consensus price target of $39.33.

BlackSky Technology Company Profile

BlackSky Technology Inc is a space-based intelligence and geospatial analytics company that provides high-frequency monitoring of activity and changes on Earth. The company combines satellite imagery, artificial intelligence and machine learning, and other data sources to help customers identify and analyze events and locations of interest.

BlackSky operates a constellation of Earth-observation satellites and delivers imagery, alerts, and analytical products through its Spectra platform.

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