BlackLine (BL) – Analysts’ Recent Ratings Changes

BlackLine (NASDAQ: BL) has recently received a number of price target changes and ratings updates:

• 11/11/2024 – BlackLine had its price target raised by analysts at Truist Financial Co. from $55.00 to $60.00. They now have a “hold” rating on the stock.
• 11/8/2024 – BlackLine had its price target raised by analysts at Piper Sandler from $51.00 to $60.00. They now have a “neutral” rating on the stock.
• 10/31/2024 – BlackLine had its price target raised by analysts at Truist Financial Co. from $45.00 to $55.00. They now have a “hold” rating on the stock.
• 10/25/2024 – BlackLine had its price target raised by analysts at JPMorgan Chase & Co. from $47.00 to $50.00. They now have an “underweight” rating on the stock.
• 9/30/2024 – BlackLine was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating. They now have a $70.00 price target on the stock, up previously from $60.00.

BlackLine Trading Down 0.2 %

Shares of NASDAQ:BL traded down $0.10 during trading on Tuesday, reaching $62.42. The stock had a trading volume of 16,184 shares, compared to its average volume of 885,059. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 2.74. The stock has a market cap of $3.88 billion, a P/E ratio of 63.69, a PEG ratio of 14.79 and a beta of 0.90. The business has a fifty day moving average price of $54.17 and a 200-day moving average price of $51.62. BlackLine, Inc. has a fifty-two week low of $43.37 and a fifty-two week high of $69.31.

Insider Buying and Selling

In other news, insider Karole Morgan-Prager sold 27,079 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $60.06, for a total transaction of $1,626,364.74. Following the completion of the transaction, the insider now owns 113,865 shares of the company’s stock, valued at $6,838,731.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Mark Partin sold 5,648 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $53.00, for a total transaction of $299,344.00. Following the completion of the sale, the chief financial officer now owns 226,844 shares in the company, valued at approximately $12,022,732. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Karole Morgan-Prager sold 27,079 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $60.06, for a total value of $1,626,364.74. Following the completion of the transaction, the insider now owns 113,865 shares of the company’s stock, valued at approximately $6,838,731.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 135,495 shares of company stock worth $7,560,534. 9.93% of the stock is owned by company insiders.

Hedge Funds Weigh In On BlackLine

Several institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP acquired a new stake in shares of BlackLine during the 2nd quarter valued at approximately $32,000. EntryPoint Capital LLC acquired a new stake in BlackLine in the first quarter worth $36,000. 1620 Investment Advisors Inc. acquired a new stake in BlackLine in the second quarter worth $64,000. Covestor Ltd increased its position in BlackLine by 31.9% in the third quarter. Covestor Ltd now owns 1,392 shares of the technology company’s stock worth $77,000 after buying an additional 337 shares during the period. Finally, Fifth Third Bancorp increased its holdings in shares of BlackLine by 13.0% during the second quarter. Fifth Third Bancorp now owns 2,306 shares of the technology company’s stock valued at $112,000 after purchasing an additional 266 shares during the period. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

BlackLine, Inc provides cloud-based solutions to automate and streamline accounting and finance operations worldwide. It offers financial close management solutions, such as account reconciliations that provides a centralized workspace for users to collaborate on account reconciliations; transaction matching that analyzes and reconciles individual transactions; task management to create and manage processes and task lists; and financial reporting analytics that enables analysis and validation of financial data.