On July 3, 2024, Joseph Baratta, Director at Blackstone Inc (NYSE:BX), executed a sale of 116,448 shares of the company. According to the SEC Filing, the transaction was carried out at an undisclosed price. Following this transaction, the insider now owns 921,184 shares of Blackstone Inc.

Blackstone Inc, a prominent player in the financial industry, specializes in alternative asset management and financial advisory services. The company's diverse portfolio includes investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets, and secondary funds.

Over the past year, Joseph Baratta has sold a total of 219,865 shares and has not made any purchases of the company's stock. This recent transaction is part of a broader trend observed at Blackstone Inc, where there have been 8 insider sells and 6 insider buys over the past year.

On the valuation front, shares of Blackstone Inc were trading at $123 on the day of the sale. The company boasts a market cap of approximately $92.23 billion. The price-earnings ratio stands at 43.36, significantly above both the industry median of 12.74 and the company's historical median.

According to the GF Value, which is an intrinsic value estimate from GuruFocus, Blackstone Inc is currently significantly overvalued with a price-to-GF-Value ratio of 1.37. The GF Value of $89.83 suggests a potential overvaluation in the stock's current trading price.

This insider sale might attract investor attention as they assess the implications of such significant insider transactions and the current valuation metrics of Blackstone Inc.

This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.

This article first appeared on GuruFocus.