BlackLine, Inc. (NASDAQ:BL) Given Consensus Rating of “Hold” by Brokerages

BlackLine, Inc. (NASDAQ:BL) has been assigned a consensus rating of “Hold” from the twelve analysts that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $64.10.

Several research firms have weighed in on BL. Morgan Stanley increased their price objective on BlackLine from $70.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. JMP Securities increased their target price on BlackLine from $81.00 to $86.00 and gave the stock a “market outperform” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. increased their target price on BlackLine from $47.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Truist Financial increased their target price on BlackLine from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Finally, Robert W. Baird decreased their target price on BlackLine from $72.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th.

Insider Activity at BlackLine

In related news, insider Karole Morgan-Prager sold 27,079 shares of BlackLine stock in a transaction on Friday, October 18th. The stock was sold at an average price of $60.06, for a total transaction of $1,626,364.74. Following the transaction, the insider now directly owns 113,865 shares in the company, valued at approximately $6,838,731.90. The trade was a 19.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark Partin sold 85,308 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were 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 in the company, valued at approximately $12,440,124.96. This represents a 27.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 134,108 shares of company stock worth $7,488,826. Corporate insiders own 9.93% of the company’s stock.

Institutional Investors Weigh In On BlackLine

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Cetera Investment Advisers bought a new stake in shares of BlackLine in the first quarter worth about $1,572,000. Comerica Bank increased its holdings in shares of BlackLine by 11.8% in the first quarter. Comerica Bank now owns 124,266 shares of the technology company’s stock worth $8,025,000 after purchasing an additional 13,066 shares during the last quarter. Teachers Retirement System of The State of Kentucky bought a new stake in shares of BlackLine in the first quarter worth about $907,000. Point72 DIFC Ltd bought a new stake in shares of BlackLine in the second quarter worth about $537,000. Finally, Susquehanna Fundamental Investments LLC increased its holdings in shares of BlackLine by 430.5% in the second quarter. Susquehanna Fundamental Investments LLC now owns 90,403 shares of the technology company’s stock worth $4,380,000 after purchasing an additional 73,362 shares during the last quarter. 95.13% of the stock is owned by institutional investors.

BlackLine Trading Up 0.2 %

NASDAQ BL opened at $62.01 on Friday. BlackLine has a fifty-two week low of $43.37 and a fifty-two week high of $69.31. The company has a debt-to-equity ratio of 2.42, a quick ratio of 2.69 and a current ratio of 2.69. The stock has a 50 day simple moving average of $57.37 and a two-hundred day simple moving average of $51.87. The stock has a market cap of $3.88 billion, a P/E ratio of 63.28, a price-to-earnings-growth ratio of 14.53 and a beta of 0.90.

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.