BlackLine (NASDAQ:BL - Get Free Report) has received an average recommendation of "Hold" from the thirteen analysts that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $60.54.
A number of research analysts have weighed in on the stock. Piper Sandler lifted their price target on shares of BlackLine from $46.00 to $50.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Cantor Fitzgerald assumed coverage on shares of BlackLine in a report on Tuesday, June 3rd. They set a "neutral" rating and a $58.00 target price on the stock. DA Davidson reduced their price objective on BlackLine from $58.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. The Goldman Sachs Group reduced their price objective on BlackLine from $51.00 to $43.00 and set a "sell" rating on the stock in a research note on Thursday, April 17th. Finally, Morgan Stanley reduced their target price on shares of BlackLine from $80.00 to $65.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th.
View Our Latest Stock Report on BL
Insider Activity
In other BlackLine news, CAO Michelle D. Stalick sold 795 shares of the firm's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $55.14, for a total value of $43,836.30. Following the sale, the chief accounting officer now directly owns 25,235 shares in the company, valued at approximately $1,391,457.90. This trade represents a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CRO Mark Woodhams sold 1,856 shares of the company's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $54.65, for a total transaction of $101,430.40. Following the transaction, the executive now owns 61,390 shares of the company's stock, valued at $3,354,963.50. This represents a 2.93% decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.60% of the company's stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in shares of BlackLine during the fourth quarter valued at approximately $31,000. Global Retirement Partners LLC boosted its stake in BlackLine by 568.4% during the 4th 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 in the last quarter. Quadrant Capital Group LLC boosted its stake in BlackLine by 243.5% during the fourth quarter. Quadrant Capital Group LLC now owns 584 shares of the technology company's stock valued at $35,000 after buying an additional 414 shares in the last quarter. Headlands Technologies LLC bought a new position in BlackLine during the fourth quarter valued at about $50,000. Finally, Huntington National Bank boosted its stake in BlackLine by 596.4% during the fourth quarter. Huntington National Bank now owns 968 shares of the technology company's stock valued at $59,000 after buying an additional 829 shares in the last quarter. Institutional investors own 95.13% of the company's stock.
BlackLine Trading Down 0.3%
Shares of NASDAQ BL traded down $0.18 during midday trading on Wednesday, hitting $54.78. The stock had a trading volume of 1,132,816 shares, compared to its average volume of 752,703. The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of 39.70, a PEG ratio of 9.07 and a beta of 0.94. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.59. BlackLine has a 1-year low of $40.82 and a 1-year high of $66.25. The company has a fifty day moving average price of $52.11 and a 200 day moving average price of $54.28.
BlackLine Company Profile
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Get Free ReportBlackLine, 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.
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