BlackLine (NASDAQ:BL - Get Free Report) had its price target upped by investment analysts at JMP Securities from $81.00 to $86.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a "market outperform" rating on the technology company's stock. JMP Securities' price objective suggests a potential upside of 37.16% from the stock's previous close.
BL has been the topic of several other research reports. Morgan Stanley boosted their target price on BlackLine from $70.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. JPMorgan Chase & Co. increased their price target on shares of BlackLine from $47.00 to $50.00 and gave the stock an "underweight" rating in a research report on Friday, October 25th. Piper Sandler reiterated a "neutral" rating and issued a $60.00 target price on shares of BlackLine in a research report on Wednesday. Robert W. Baird dropped their target price on BlackLine from $72.00 to $65.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 7th. Finally, Truist Financial raised their target price on BlackLine from $55.00 to $60.00 and gave the company a "hold" rating in a report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, BlackLine presently has a consensus rating of "Hold" and an average target price of $64.10.
Read Our Latest Report on BlackLine
BlackLine Stock Performance
Shares of NASDAQ:BL traded up $1.01 on Friday, reaching $62.70. 555,435 shares of the company's stock were exchanged, compared to its average volume of 881,854. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 2.42. The business's 50-day moving average is $56.00 and its two-hundred day moving average is $51.74. The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of 63.88, a PEG ratio of 13.54 and a beta of 0.90. BlackLine has a fifty-two week low of $43.37 and a fifty-two week high of $69.31.
Insiders Place Their Bets
In other BlackLine news, CFO Mark Partin sold 5,648 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $53.00, for a total transaction of $299,344.00. Following the sale, the chief financial officer now owns 226,844 shares of the company's stock, valued at $12,022,732. This represents a 2.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Karole Morgan-Prager sold 27,079 shares of the stock in a transaction on Friday, October 18th. The shares were 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 in the company, valued at $6,838,731.90. The trade was a 19.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 134,108 shares of company stock worth $7,488,826 over the last quarter. Company insiders own 9.93% of the company's stock.
Institutional Investors Weigh In On BlackLine
Large investors have recently modified their holdings of the business. Geode Capital Management LLC grew its stake in shares of BlackLine by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,282,017 shares of the technology company's stock worth $70,704,000 after acquiring an additional 3,498 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of BlackLine during the 3rd quarter worth approximately $713,000. Pier Capital LLC lifted its stake in shares of BlackLine by 1.3% during the 3rd quarter. Pier Capital LLC now owns 151,726 shares of the technology company's stock worth $8,366,000 after buying an additional 1,909 shares during the last quarter. XTX Topco Ltd acquired a new stake in BlackLine during the third quarter worth approximately $1,099,000. Finally, Weiss Asset Management LP acquired a new position in BlackLine in the 3rd quarter valued at $1,506,000. 95.13% of the stock is currently owned by institutional investors.
About BlackLine
(
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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.
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