BlackLine, Inc. (NASDAQ:BL) Receives $64.10 Consensus Target Price from Analysts

Shares of BlackLine, Inc. (NASDAQ:BL - Get Free Report) have been given a consensus recommendation of "Hold" by the twelve analysts that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, six have given a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $64.10.

A number of equities analysts have recently issued reports on BL shares. Truist Financial increased their target price on BlackLine from $55.00 to $60.00 and gave the stock a "hold" rating in a report on Monday, November 11th. Morgan Stanley boosted their target price on shares of BlackLine from $70.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. JMP Securities upped their target price on shares of BlackLine from $81.00 to $86.00 and gave the stock a "market outperform" rating in a report on Friday, November 22nd. Robert W. Baird cut their price target on shares of BlackLine from $72.00 to $65.00 and set an "outperform" rating for the company in a report on Wednesday, August 7th. Finally, BTIG Research decreased their price objective on shares of BlackLine from $71.00 to $65.00 and set a "buy" rating on the stock in a research note on Wednesday, August 7th.

Insider Buying and Selling

In other BlackLine news, insider Karole Morgan-Prager sold 10,000 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $55.00, for a total value of $550,000.00. Following the completion of the sale, the insider now directly owns 113,865 shares in the company, valued at $6,262,575. This represents a 8.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Partin sold 85,308 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $54.84, for a total value of $4,678,290.72. Following the sale, the chief financial officer now directly owns 226,844 shares of the company's stock, valued at approximately $12,440,124.96. The trade was a 27.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 134,108 shares of company stock valued at $7,488,826 in the last 90 days. 9.93% of the stock is owned by insiders.

Hedge Funds Weigh In On BlackLine

A number of large investors have recently bought and sold shares of BL. Price T Rowe Associates Inc. MD lifted its position in BlackLine by 7.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 30,216 shares of the technology company's stock worth $1,952,000 after buying an additional 2,106 shares in the last quarter. Comerica Bank boosted its position in BlackLine by 11.8% during the first quarter. Comerica Bank now owns 124,266 shares of the technology company's stock valued at $8,025,000 after purchasing an additional 13,066 shares during the last quarter. Cetera Investment Advisers acquired a new position in BlackLine during the first quarter valued at approximately $1,572,000. Teachers Retirement System of The State of Kentucky bought a new position in BlackLine in the first quarter valued at approximately $907,000. Finally, Raymond James & Associates increased its position in shares of BlackLine by 3.3% during the 2nd quarter. Raymond James & Associates now owns 69,139 shares of the technology company's stock worth $3,350,000 after purchasing an additional 2,194 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company's stock.

BlackLine Price Performance

Shares of NASDAQ:BL traded up $0.13 during trading on Friday, reaching $62.01. The company had a trading volume of 213,272 shares, compared to its average volume of 876,490. The firm has a market capitalization of $3.88 billion, a PE ratio of 63.28, a price-to-earnings-growth ratio of 14.53 and a beta of 0.90. BlackLine has a twelve month low of $43.37 and a twelve month high of $69.31. The firm's fifty day moving average is $57.37 and its 200 day moving average is $51.87. The company has a debt-to-equity ratio of 2.42, a quick ratio of 2.69 and a current ratio of 2.69.

About BlackLine

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.