BlackLine (NASDAQ:BL) Price Target Raised to $86.00

BlackLine (NASDAQ:BL) had its price objective hoisted by JMP Securities from $81.00 to $86.00 in a report issued on Friday morning,Benzinga reports. JMP Securities currently has a market outperform rating on the technology company’s stock.

Several other research analysts have also commented on the stock. Morgan Stanley lifted their price objective on shares of BlackLine from $70.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Robert W. Baird dropped 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. Piper Sandler reiterated a “neutral” rating and issued a $60.00 price target on shares of BlackLine in a report on Wednesday, November 20th. Truist Financial upped their price objective on BlackLine from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Finally, BTIG Research decreased their target price on BlackLine from $71.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Two 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $64.10.

BlackLine Trading Up 0.1 %

Shares of BL stock opened at $62.77 on Friday. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of 64.30, a price-to-earnings-growth ratio of 14.72 and a beta of 0.90. BlackLine has a 12-month low of $43.37 and a 12-month high of $69.31. The stock’s 50-day moving average price is $56.26 and its 200-day moving average price is $51.64. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 2.42.

Insider Buying and Selling at BlackLine

In other BlackLine news, insider Karole Morgan-Prager sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $55.00, for a total value of $550,000.00. Following the completion of the transaction, the insider now directly owns 113,865 shares of the company’s stock, valued at approximately $6,262,575. The trade was a 8.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark Partin sold 5,648 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $53.00, for a total transaction of $299,344.00. Following the sale, the chief financial officer now directly owns 226,844 shares in the company, valued at $12,022,732. The trade was a 2.43 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 134,108 shares of company stock worth $7,488,826. Company insiders own 9.53% of the company’s stock.

Hedge Funds Weigh In On BlackLine

A number of large investors have recently bought and sold shares of BL. State Board of Administration of Florida Retirement System increased its holdings in BlackLine by 11.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 17,944 shares of the technology company’s stock worth $1,205,000 after acquiring an additional 1,850 shares in the last quarter. Vanguard Group Inc. raised its position in shares of BlackLine by 9.5% during the 1st quarter. Vanguard Group Inc. now owns 7,380,961 shares of the technology company’s stock worth $476,662,000 after purchasing an additional 642,772 shares during the last quarter. American International Group Inc. lifted its stake in BlackLine by 7.5% in the 1st quarter. American International Group Inc. now owns 30,440 shares of the technology company’s stock valued at $1,966,000 after buying an additional 2,117 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in BlackLine by 42.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 144,008 shares of the technology company’s stock worth $9,293,000 after buying an additional 43,103 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in BlackLine during the 1st quarter worth approximately $36,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

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.