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BLK · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is BlackRock, Inc. (BLK) stock moving?
BLK closed at $1,222.15 on Nov 10, up about 7.5% from $1,137.29 on Oct 22 and close to its Nov 4 intraday high of $1,231.14. The rebound came after a volume-heavy session on Nov 4 (1.10M shares, +4.6% to $1,224.37), followed by a pullback to $1,170.67 on Nov 5 and a steady recovery from Nov 6 onward on volumes near the 30-day average. The main fundamental backdrop is the Oct 14 Q3 2026 release: adjusted EPS up 38% year over year, adjusted operating income up 27%, a 47.8% adjusted operating margin, $205B of quarterly net inflows, 11% annualized organic base fee growth, and $550M of buybacks. Evercore ISI maintained its Outperform rating and raised its price target to $1,315 on Nov 6, about 7.6% above the Nov 10 close. Most of the other items in the feed are routine voting-rights and holdings notifications on European stocks and affiliated trusts, which carry little weight for BLK. The $318M BTC/ETH transfer is unclear: it could reflect client flows or internal moves, so it does not clearly change the picture. The 10-Q filed Nov 4 was listed without content, so it was not used. The price already sits near the recent high after a 7% gain in roughly three weeks, which limits near-term upside on this evidence alone.
News behind the analysis
- Evercore ISI Group Maintains Outperform on BlackRock, Raises Price Target to $1315Evercore ISI kept its Outperform rating on BlackRock and raised its price target to $1,315. The target was previously $1,275.
- Evercore ISI Adjusts Price Target on BlackRock to $1,315Evercore ISI raised its BLK price target from $1,275 to $1,315, the same change reported by Benzinga.
- BlackRock Transfers $318.36 Million in BTC and ETH to CoinbaseBlackRock moved about $318.36 million of Bitcoin and Ethereum to the Coinbase exchange. The filing does not say whether the transfer relates to client funds or to BlackRock's own holdings.
- iConnections Integrates Preqin Data into AI-Powered PlatformiConnections announced a collaboration that brings Preqin, a BlackRock company, into its AI-powered capital introduction platform, Violet.
- BlackRock Reports Third Quarter 2026 Diluted EPS of $10.57, or $15.93 as adjustedQ3 2026 diluted EPS was $10.57 ($15.93 adjusted), with AUM of $15.5T and $205B of quarterly net inflows. Adjusted EPS rose 38% year over year and the adjusted operating margin was 47.8%.
About Blackrock, Inc.
BlackRock is the world's largest asset manager, with about $15.5 trillion in client assets as of September 30, 2026, across index funds, iShares ETFs, active strategies, private markets and cash management. It also sells investment technology, most notably its Aladdin risk-management platform, which is used by other financial institutions.
How it makes money
Most revenue comes from base fees: a small percentage of the assets it manages, plus securities-lending income. These were about $6.0 billion in Q3 2026. iShares ETFs and long-term index and active funds bring in the bulk of those fees. Other sources are performance fees, mainly from private markets and alternative funds; technology and subscription services such as Aladdin, eFront and Preqin; and fees for advisory and distribution work.
What usually moves BLK
- Stock and bond market levels, which change the value of fee-earning assets
- Net inflows into iShares ETFs and other funds
- Growth in private markets and infrastructure, which pay higher fees
- Aladdin technology revenue growth
- Pressure on fees from low-cost passive investing competition