BlackLine, Inc. (NASDAQ:BL - Get Free Report) CRO Mark Woodhams sold 24,408 shares of the company's stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $64.32, for a total transaction of $1,569,922.56. Following the completion of the transaction, the executive now owns 72,920 shares of the company's stock, valued at $4,690,214.40. This trade represents a 25.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
BlackLine Stock Up 1.7 %
BL stock opened at $64.94 on Tuesday. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of 66.27, a PEG ratio of 15.18 and a beta of 0.90. BlackLine, Inc. has a 1-year low of $43.37 and a 1-year high of $69.31. The firm has a fifty day moving average price of $59.48 and a two-hundred day moving average price of $52.54. The company has a debt-to-equity ratio of 2.42, a current ratio of 2.69 and a quick ratio of 2.69.
Analyst Ratings Changes
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A number of brokerages have commented on BL. Morgan Stanley boosted their price objective on shares of BlackLine from $70.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Truist Financial increased their price target on BlackLine from $55.00 to $60.00 and gave the company a "hold" rating in a report on Monday, November 11th. Piper Sandler restated a "neutral" rating and set a $60.00 price objective on shares of BlackLine in a report on Wednesday, November 20th. JMP Securities increased their target price on BlackLine from $81.00 to $86.00 and gave the company a "market outperform" rating in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. raised 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. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, BlackLine presently has a consensus rating of "Hold" and an average price target of $66.00.
Read Our Latest Stock Report on BlackLine
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP bought a new position in BlackLine in the second quarter worth about $32,000. 1620 Investment Advisors Inc. acquired a new stake in shares of BlackLine during the 2nd quarter worth approximately $64,000. Covestor Ltd raised its position in shares of BlackLine by 31.9% during the 3rd quarter. Covestor Ltd now owns 1,392 shares of the technology company's stock worth $77,000 after purchasing an additional 337 shares during the period. Fifth Third Bancorp lifted its holdings in shares of BlackLine by 13.0% in the 2nd quarter. Fifth Third Bancorp now owns 2,306 shares of the technology company's stock worth $112,000 after purchasing an additional 266 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in BlackLine during the 2nd quarter worth $145,000. 95.13% of the stock is owned by institutional investors and hedge funds.
About BlackLine
(
Get Free Report)
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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