BlackLine (NASDAQ:BL) Receives “Market Outperform” Rating from JMP Securities

JMP Securities reiterated their market outperform rating on shares of BlackLine (NASDAQ:BL) in a research report sent to investors on Wednesday morning,Benzinga reports. JMP Securities currently has a $86.00 target price on the technology company’s stock.

A number of other brokerages have also weighed in on BL. Truist Financial raised their price objective on BlackLine from $55.00 to $60.00 and gave the company a “hold” rating in a report on Monday, November 11th. Morgan Stanley lifted their price target on BlackLine from $70.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. JPMorgan Chase & Co. lifted their price target on BlackLine from $47.00 to $50.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Citigroup lifted their price target on BlackLine from $64.00 to $73.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Finally, Piper Sandler lowered BlackLine from a “neutral” rating to an “underweight” rating and set a $60.00 price target on the stock. in a report on Monday, January 6th. Three analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $66.00.

BlackLine Trading Up 0.8 %

Shares of BL stock opened at $58.67 on Wednesday. The stock’s fifty day moving average is $61.29 and its two-hundred day moving average is $54.77. The company has a debt-to-equity ratio of 2.42, a quick ratio of 2.69 and a current ratio of 2.69. The firm has a market capitalization of $3.67 billion, a P/E ratio of 59.87, a PEG ratio of 12.60 and a beta of 0.91. BlackLine has a fifty-two week low of $43.37 and a fifty-two week high of $69.31.

Insider Buying and Selling at BlackLine

In other news, insider Karole Morgan-Prager sold 27,079 shares of BlackLine stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $60.06, for a total value of $1,626,364.74. Following the completion of the transaction, the insider now owns 113,865 shares in the company, valued at approximately $6,838,731.90. This trade represents a 19.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO Mark Woodhams sold 24,408 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $64.32, for a total value of $1,569,922.56. Following the sale, the executive now owns 72,920 shares of the company’s stock, valued at approximately $4,690,214.40. The trade was a 25.08 % decrease in their position. The disclosure for this sale can be found here. 9.53% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BlackLine

Several institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its holdings in shares of BlackLine by 41.2% in the fourth quarter. GAMMA Investing LLC now owns 634 shares of the technology company’s stock valued at $39,000 after acquiring an additional 185 shares during the period. Tidal Investments LLC raised its position in BlackLine by 1.6% in the third quarter. Tidal Investments LLC now owns 13,539 shares of the technology company’s stock worth $747,000 after acquiring an additional 219 shares in the last quarter. Covestor Ltd raised its position in BlackLine by 31.9% in the third quarter. Covestor Ltd now owns 1,392 shares of the technology company’s stock worth $77,000 after acquiring an additional 337 shares in the last quarter. Quarry LP purchased a new position in shares of BlackLine in the second quarter valued at $32,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of BlackLine by 0.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 119,072 shares of the technology company’s stock valued at $6,566,000 after buying an additional 753 shares in the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

About BlackLine

BlackLine, 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.