Other equities research analysts have also recently issued reports about the company. BidaskClub raised Blackline from a strong sell rating to a sell rating in a research note on Wednesday, February 7th. SunTrust Banks reissued a buy rating and set a $42.00 price objective on shares of Blackline in a research note on Friday, November 3rd. JMP Securities raised Blackline from a market perform rating to an outperform rating in a research note on Thursday, November 16th. Finally, JPMorgan Chase & Co. cut Blackline from a neutral rating to an underweight rating and set a $27.00 price objective on the stock. in a research note on Thursday, January 25th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $37.95.
Shares of Blackline (NASDAQ:BL) opened at $39.04 on Thursday. Blackline has a 52 week low of $26.72 and a 52 week high of $40.28.
In other Blackline news, major shareholder Sumeru (Gp) L.L.C. Slta sold 2,649,698 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $34.07, for a total transaction of $90,275,210.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Mario Spanicciati sold 12,750 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $38.17, for a total value of $486,667.50. The disclosure for this sale can be found here. Insiders have sold 4,538,250 shares of company stock valued at $154,728,083 in the last 90 days. Company insiders own 22.35% of the company’s stock.
Large investors have recently made changes to their positions in the business. Metropolitan Life Insurance Co. NY purchased a new stake in shares of Blackline in the fourth quarter valued at approximately $175,000. Fortaleza Asset Management Inc. boosted its holdings in shares of Blackline by 98.2% in the third quarter. Fortaleza Asset Management Inc. now owns 6,215 shares of the technology company’s stock valued at $212,000 after purchasing an additional 3,080 shares during the period. Wolverine Trading LLC purchased a new stake in shares of Blackline in the third quarter valued at approximately $246,000. MetLife Investment Advisors LLC purchased a new stake in shares of Blackline in the fourth quarter valued at approximately $248,000. Finally, First Republic Investment Management Inc. purchased a new stake in shares of Blackline in the third quarter valued at approximately $257,000. Institutional investors and hedge funds own 80.05% of the company’s stock.
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Blackline Company Profile
BlackLine, Inc is a holding company. The Company provides cloud-based software platform that is designed to automate and streamline accounting and finance operations. Its platform supports accounting processes, such as the financial close, account reconciliation, intercompany accounting and controls assurance.
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