Blackrock (BLK) with a large open market buy on 4/14 from director William Ford of 3,000 shares at $687.96, a more than $2M investment. BLK shares are down nearly 30% from 52-week highs and back at the 38.2% Fibonacci retracement of the rally from the post-pandemic lows. BLK recovered the April value low yesterday and a continued push higher has room to $740. The $111B company trades 15.66X earnings, 5.64X sales and 11.9X cash with a 2.35% yield. BLK is an investment manager with client-focused equity, fixed income, and balanced portfolios. The company is coming off of a mixed quarter but saw positive flows across all product types in Q1 including $56B of inflows to ETFs. They also continue to see demand for alternatives driving flows in the future with their alternatives and liquid credit platform topping $330B last quarter. Analysts have an average target for shares of $885 with a Street High $1080. BMO Capital with a $734 PT as the firm still sees BlackRock as well positioned for growth across a broad array of products and themes. The firm also notes the company will continue to steal share from its traditional asset management peers. BAML has a $1080 PT for shares and sees a large gap between the organic growth rate of BlackRock over the next five years and its peer group given BlackRock’s scale advantages, differentiated technology effort and early/first-mover advantages in multiple businesses, and its $260B Alts business which rivals many of the large publics in size.