Blackline (NASDAQ:BL) Lifted to Hold at BidaskClub
A number of other research analysts also recently issued reports on the company. ValuEngine downgraded Blackline from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Goldman Sachs Group downgraded Blackline from a “buy” rating to a “sell” rating and dropped their price objective for the company from $57.00 to $41.00 in a research note on Tuesday, July 2nd. Zacks Investment Research downgraded Blackline from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. First Analysis started coverage on Blackline in a research note on Friday, October 4th. They issued an “outperform” rating and a $55.00 price objective on the stock. Finally, KeyCorp boosted their price objective on Blackline from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $53.60.
NASDAQ BL opened at $48.54 on Wednesday. The business’s 50-day moving average price is $48.98 and its two-hundred day moving average price is $49.64. Blackline has a 12 month low of $34.01 and a 12 month high of $56.29. The firm has a market capitalization of $2.65 billion, a PE ratio of -186.69 and a beta of 0.77. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.04.
In other Blackline news, insider Morgan Karole Prager sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $54.76, for a total transaction of $547,600.00. Following the sale, the insider now owns 34,053 shares in the company, valued at $1,864,742.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark Partin sold 20,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $54.75, for a total value of $1,095,000.00. Following the sale, the chief financial officer now owns 75,140 shares in the company, valued at approximately $4,113,915. The disclosure for this sale can be found here. Insiders sold a total of 40,000 shares of company stock worth $2,152,500 over the last three months. 15.77% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in BL. Aperio Group LLC bought a new position in shares of Blackline during the second quarter valued at about $38,000. Tompkins Financial Corp bought a new position in shares of Blackline during the second quarter valued at about $40,000. FTB Advisors Inc. grew its stake in shares of Blackline by 65.3% during the second quarter. FTB Advisors Inc. now owns 911 shares of the technology company’s stock valued at $48,000 after buying an additional 360 shares during the last quarter. Captrust Financial Advisors grew its stake in shares of Blackline by 183.0% during the second quarter. Captrust Financial Advisors now owns 1,016 shares of the technology company’s stock valued at $54,000 after buying an additional 657 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of Blackline by 3,971.4% during the second quarter. Tower Research Capital LLC TRC now owns 1,140 shares of the technology company’s stock valued at $61,000 after buying an additional 1,112 shares during the last quarter. 83.94% of the stock is currently owned by hedge funds and other institutional investors.
Blackline Company Profile
BlackLine, Inc provides financial accounting close solutions delivered primarily as Software as a Service in the United States and internationally. Its solutions enable its customers to address various aspects of their financial closing process, including account reconciliations, variance analysis of account balances, journal entry capabilities, and range of data matching capabilities.
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