Charles Schwab Investment Management Inc. Reduces Stock Position in BlackSky Technology Inc. (NYSE:BKSY)

Charles Schwab Investment Management Inc. trimmed its holdings in BlackSky Technology Inc. (NYSE:BKSY) by 87.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,442 shares of the company’s stock after selling 644,732 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.51% of BlackSky Technology worth $452,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Squarepoint Ops LLC purchased a new position in shares of BlackSky Technology in the second quarter valued at $295,000. Perkins Capital Management Inc. bought a new position in BlackSky Technology in the 3rd quarter worth about $1,114,000. Finally, Thompson Siegel & Walmsley LLC purchased a new position in BlackSky Technology during the 3rd quarter valued at about $3,674,000. Institutional investors own 27.15% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BKSY. Lake Street Capital increased their price target on shares of BlackSky Technology from $4.00 to $32.00 and gave the stock a “buy” rating in a 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 report on Friday, October 4th. HC Wainwright decreased their price target on shares of BlackSky Technology from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Finally, Oppenheimer initiated coverage on BlackSky Technology in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $10.00 price objective on the stock. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $17.60.

BlackSky Technology Trading Up 0.4 %

Shares of BlackSky Technology stock opened at $10.50 on Friday. The company has a 50 day simple moving average of $8.77 and a two-hundred day simple moving average of $8.12. The firm has a market cap of $323.18 million, a PE ratio of -4.65 and a beta of 1.15. BlackSky Technology Inc. has a 1 year low of $3.86 and a 1 year high of $14.16. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.68 and a quick ratio of 5.68.

BlackSky Technology (NYSE:BKSY) last posted 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 return on equity of 49.91% and a negative net margin of 38.83%. During the same period in the prior year, the firm posted ($0.96) earnings per share. Analysts expect that BlackSky Technology Inc. will post -2.28 earnings per share for the current fiscal year.

Insider Transactions at BlackSky Technology

In related news, CAO Christiana L. Lin sold 5,550 shares of BlackSky Technology stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $10.65, for a total value of $59,107.50. Following the transaction, the chief accounting officer now owns 354,143 shares in the company, valued at $3,771,622.95. This trade represents a 1.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Henry Edward Dubois sold 7,938 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $10.65, for a total transaction of $84,539.70. Following the completion of the sale, the chief financial officer now directly owns 420,779 shares of the company’s stock, valued at $4,481,296.35. This represents a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 23,086 shares of company stock worth $245,866. 4.50% of the stock is currently owned by corporate insiders.

About BlackSky Technology

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.