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

Charles Schwab Investment Management Inc. trimmed its position in BlackSky Technology Inc. (NYSE:BKSY) by 87.1% during the 3rd quarter, Holdings Channel reports. 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.’s holdings in BlackSky Technology were worth $452,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BKSY. Thompson Siegel & Walmsley LLC bought a new stake in BlackSky Technology in the 3rd quarter worth $3,674,000. Squarepoint Ops LLC bought a new position in BlackSky Technology during the 2nd quarter valued at approximately $295,000. Finally, Perkins Capital Management Inc. bought a new position in shares of BlackSky Technology during the third quarter valued at approximately $1,114,000. 27.15% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CAO Christiana L. Lin sold 5,550 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $10.65, for a total value of $59,107.50. Following the transaction, the chief accounting officer now directly owns 354,143 shares of the company’s stock, valued at approximately $3,771,622.95. This represents a 1.54 % decrease in their position. The transaction was disclosed in a legal filing 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 on Tuesday, December 10th. The stock was 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 directly owns 420,779 shares of the company’s stock, valued at approximately $4,481,296.35. The trade was a 1.85 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,086 shares of company stock valued at $245,866. 4.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BKSY. Oppenheimer initiated coverage on shares of BlackSky Technology in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $10.00 price target on the stock. Craig Hallum upgraded BlackSky Technology from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a report on Friday, October 4th. Lake Street Capital raised their target price on BlackSky Technology from $4.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, HC Wainwright dropped their price target on BlackSky Technology from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $17.60.

BlackSky Technology Trading Up 0.4 %

NYSE:BKSY opened at $10.50 on Friday. The firm has a market capitalization of $323.18 million, a P/E ratio of -4.65 and a beta of 1.15. 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 Inc. has a one year low of $3.86 and a one year high of $14.16. The company’s 50-day simple moving average is $8.77 and its 200 day simple moving average is $8.12.

BlackSky Technology (NYSE:BKSY) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.05). BlackSky Technology had a negative return on equity of 49.91% and a negative net margin of 38.83%. The company had revenue of $22.55 million during the quarter, compared to the consensus estimate of $26.93 million. During the same period in the prior year, the firm earned ($0.96) earnings per share. As a group, analysts forecast 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.