BlackLine, Inc. (NASDAQ:BL) Given Consensus Recommendation of "Hold" by Brokerages

BlackLine, Inc. (NASDAQ:BL - Get Free Report) has been given a consensus rating of "Hold" by the twelve research firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $60.75.

A number of equities research analysts have commented on the company. Bank of America raised BlackLine from an "underperform" rating to a "buy" rating and raised their price target for the company from $50.00 to $75.00 in a report on Thursday, January 30th. Wall Street Zen cut BlackLine from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Truist Financial raised their price target on BlackLine from $40.00 to $45.00 and gave the company a "hold" rating in a report on Thursday, May 8th. Citigroup decreased their price target on BlackLine from $73.00 to $70.00 and set a "buy" rating on the stock in a report on Wednesday, February 12th. Finally, DA Davidson reduced their target price on BlackLine from $58.00 to $55.00 and set a "buy" rating on the stock in a report on Monday, April 14th.

BlackLine Price Performance

NASDAQ:BL traded up $0.27 on Friday, reaching $55.32. 541,557 shares of the company's stock traded hands, compared to its average volume of 761,276. The company has a quick ratio of 2.69, a current ratio of 2.59 and a debt-to-equity ratio of 2.00. The stock has a 50-day simple moving average of $49.12 and a 200-day simple moving average of $54.91. The firm has a market cap of $3.45 billion, a PE ratio of 38.15, a P/E/G ratio of 10.80 and a beta of 0.94. BlackLine has a 12 month low of $40.82 and a 12 month high of $66.25.

Insiders Place Their Bets

In other BlackLine news, CRO Mark Woodhams sold 1,856 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $54.65, for a total transaction of $101,430.40. Following the completion of the transaction, the executive now owns 61,390 shares in the company, valued at $3,354,963.50. The trade was a 2.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Michelle D. Stalick sold 795 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $55.14, for a total value of $43,836.30. Following the transaction, the chief accounting officer now owns 25,235 shares of the company's stock, valued at $1,391,457.90. This trade represents a 3.05% decrease in their position. The disclosure for this sale can be found here. 8.60% of the stock is currently owned by insiders.

Institutional Trading of BlackLine

Large investors have recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in shares of BlackLine in the fourth quarter valued at approximately $31,000. Global Retirement Partners LLC boosted its holdings in shares of BlackLine by 568.4% in the fourth quarter. Global Retirement Partners LLC now owns 528 shares of the technology company's stock valued at $32,000 after purchasing an additional 449 shares during the period. Quadrant Capital Group LLC boosted its holdings in shares of BlackLine by 243.5% in the fourth quarter. Quadrant Capital Group LLC now owns 584 shares of the technology company's stock valued at $35,000 after purchasing an additional 414 shares during the period. Headlands Technologies LLC purchased a new stake in shares of BlackLine in the fourth quarter valued at approximately $50,000. Finally, Huntington National Bank boosted its holdings in shares of BlackLine by 596.4% in the fourth quarter. Huntington National Bank now owns 968 shares of the technology company's stock valued at $59,000 after purchasing an additional 829 shares during the period. Hedge funds and other institutional investors own 95.13% of the company's stock.

BlackLine Company Profile

BlackLine, Inc operates a cloud-based software platform which is designed to transform accounting and finance operations for organizations of all types and sizes. Its scalable platform supports critical accounting processes such as the financial close, account reconciliations, intercompany accounting, and controls assurance.