Geode Capital Management LLC Reduces Holdings in BlackSky Technology Inc. (NYSE:BKSY)

Geode Capital Management LLC lessened its holdings in BlackSky Technology Inc. (NYSE:BKSY) by 87.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 284,017 shares of the company’s stock after selling 1,906,907 shares during the period. Geode Capital Management LLC’s holdings in BlackSky Technology were worth $1,346,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Perkins Capital Management Inc. acquired a new position in shares of BlackSky Technology during the 3rd quarter worth approximately $1,114,000. Squarepoint Ops LLC purchased a new position in BlackSky Technology during the second quarter worth $295,000. Finally, Thompson Siegel & Walmsley LLC acquired a new position in shares of BlackSky Technology in the third quarter worth $3,674,000. 27.15% of the stock is currently owned by institutional investors and hedge funds.

BlackSky Technology Stock Down 9.0 %

Shares of NYSE BKSY opened at $10.11 on Friday. The stock has a market capitalization of $311.18 million, a PE ratio of -4.47 and a beta of 1.16. 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 firm has a fifty day moving average of $10.06 and a 200-day moving average of $8.40. BlackSky Technology Inc. has a 52-week low of $3.86 and a 52-week high of $14.16.

BlackSky Technology (NYSE:BKSY) last posted its quarterly earnings results 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 firm had revenue of $22.55 million for the quarter, compared to analysts’ expectations 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 period last year, the firm posted ($0.96) EPS. On average, analysts anticipate that BlackSky Technology Inc. will post -2.28 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on BKSY. HC Wainwright dropped their price objective on BlackSky Technology from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Oppenheimer started coverage on shares of BlackSky Technology in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $10.00 price target on the stock. Lake Street Capital boosted their price objective on shares of BlackSky Technology from $4.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, Craig Hallum upgraded shares of BlackSky Technology from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Friday, October 4th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, BlackSky Technology presently has an average rating of “Buy” and an average price target of $17.60.

Insider Transactions at BlackSky Technology

In other BlackSky Technology news, CEO Brian E. O’toole sold 7,020 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $10.65, for a total transaction of $74,763.00. Following the transaction, the chief executive officer now owns 691,909 shares in the company, valued at $7,368,830.85. The trade was a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Henry Edward Dubois sold 7,938 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $10.65, for a total value of $84,539.70. Following the completion of the sale, the chief financial officer now owns 420,779 shares of the company’s stock, valued at approximately $4,481,296.35. This trade represents a 1.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,086 shares of company stock worth $245,866. 4.50% of the stock is currently owned by company insiders.

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.