Blackline (NASDAQ:BL) Upgraded to Hold at BidaskClub
A number of other brokerages have also commented on BL. Goldman Sachs Group lowered Blackline from a “buy” rating to a “sell” rating and decreased their price objective for the stock from $57.00 to $41.00 in a research report on Tuesday, July 2nd. KeyCorp raised their price objective on Blackline from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. ValuEngine lowered Blackline from a “buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Finally, Zacks Investment Research lowered Blackline from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $53.00.
Shares of NASDAQ:BL traded up $1.42 during midday trading on Thursday, reaching $51.86. The company had a trading volume of 848,079 shares, compared to its average volume of 524,877. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.35 and a current ratio of 1.35. Blackline has a 1-year low of $34.01 and a 1-year high of $58.11. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of -199.46 and a beta of 0.78. The company has a fifty day simple moving average of $50.70 and a two-hundred day simple moving average of $49.76.
In other 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 completion of the sale, the insider now directly owns 34,053 shares of the company’s stock, valued at approximately $1,864,742.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Partin sold 20,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was 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 directly owns 75,140 shares of the company’s stock, valued at $4,113,915. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock valued at $2,686,100 over the last ninety days. Company insiders own 15.77% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Icon Wealth Partners LLC bought a new position in shares of Blackline in the 1st quarter valued at approximately $34,000. Aperio Group LLC bought a new position in shares of Blackline in the 2nd quarter valued at approximately $38,000. Tompkins Financial Corp bought a new position in shares of Blackline in the 2nd quarter valued at approximately $40,000. FTB Advisors Inc. raised its stake in shares of Blackline by 65.3% in the 2nd quarter. FTB Advisors Inc. now owns 911 shares of the technology company’s stock valued at $48,000 after acquiring an additional 360 shares in the last quarter. Finally, Captrust Financial Advisors raised its stake in shares of Blackline by 183.0% in the 2nd quarter. Captrust Financial Advisors now owns 1,016 shares of the technology company’s stock valued at $54,000 after acquiring an additional 657 shares in the last quarter. 84.38% of the stock is owned by 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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