Oddo BHF Asset Management Sas Acquires Shares of BlackRock, Inc.

In the third quarter, Oddo BHF Asset Management Sas made a significant investment by acquiring a new position in BlackRock, Inc. (NYSE:BLK). According to the latest Form 13F submitted to the Securities and Exchange Commission, the institutional investor purchased 546 shares of BlackRock's stock, which is valued at approximately $518,000.

Recent Activities Among Hedge Funds

Other hedge funds have also been active in adjusting their holdings of BlackRock's stock. For instance, FSA Wealth Management LLC initiated a new position in BlackRock during the third quarter, valued at $26,000. Moreover, Fairscale Capital LLC acquired shares of BlackRock in the second quarter for around $31,000. In a similar manner, Reston Wealth Management LLC purchased shares worth about $37,000 in the third quarter. Meanwhile, MFA Wealth Advisors LLC increased its position in BlackRock by 100%, owning a total of 40 shares valued at $38,000 after adding 20 shares during that period. Lastly, Addison Advisors LLC boosted its holdings in BlackRock by an impressive 81.5%, accumulating 49 shares worth $47,000 after purchasing 22 additional shares last quarter. It’s important to note that institutional investors and hedge funds collectively own 80.69% of BlackRock's stock.

Significant Insider Transactions

In other developments concerning BlackRock, General Counsel Christopher J. Meade sold 18,000 shares of BlackRock stock on December 6, at an average price of $1,045.83 each. The total value of this transaction amounted to $18,824,940. Following the sale, Meade retained 8,628 shares with a value of approximately $9,023,421.24, which indicates a 67.60% reduction in his position. Similarly, COO Robert L. Goldstein sold 54,000 shares on December 5, netting $56,485,620, and now owns 41,916 shares, worth around $43,845,393.48, representing a 56.30% decrease from his previous ownership. In total, insiders sold 108,190 shares valued at $113,161,681 over the last 90 days, while company insiders collectively hold 0.90% of BlackRock's shares.

Analysts' Market Outlook

A number of research analysts have recently evaluated BlackRock's stock. Morgan Stanley increased its target price from $1,150.00 to $1,245.00, maintaining an “overweight” rating as of October 14. TD Cowen raised their price objective for BlackRock from $960.00 to $1,077.00, reaffirming a