BlackLine (NASDAQ:BL – Get Free Report) had its price target increased by stock analysts at Truist Financial from $45.00 to $55.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “hold” rating on the technology company’s stock. Truist Financial’s target price points to a potential downside of 1.87% from the company’s previous close.
Other equities research analysts have also recently issued research reports about the company. Piper Sandler reduced their target price on BlackLine from $55.00 to $51.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. BTIG Research reduced their price objective on shares of BlackLine from $71.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Robert W. Baird lowered their target price on shares of BlackLine from $72.00 to $65.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Morgan Stanley raised shares of BlackLine from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $60.00 to $70.00 in a research note on Monday, September 30th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $81.00 price objective on shares of BlackLine in a research report on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.20.
Check Out Our Latest Stock Report on BL
BlackLine Trading Down 0.1 %
BlackLine (NASDAQ:BL – Get Free Report) last posted its earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.08. The company had revenue of $160.51 million for the quarter, compared to analyst estimates of $158.21 million. BlackLine had a net margin of 19.46% and a return on equity of 33.96%. BlackLine’s revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.69) EPS. As a group, equities research analysts expect that BlackLine will post 0.96 EPS for the current year.
Insider Transactions at BlackLine
In other BlackLine news, CFO Mark Partin sold 85,308 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $54.84, for a total transaction of $4,678,290.72. Following the sale, the chief financial officer now owns 226,844 shares in the company, valued at $12,440,124.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other BlackLine news, CFO Mark Partin sold 85,308 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $54.84, for a total value of $4,678,290.72. Following the sale, the chief financial officer now directly owns 226,844 shares of the company’s stock, valued at approximately $12,440,124.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Karole Morgan-Prager sold 27,079 shares of BlackLine stock in a transaction on Friday, October 18th. The stock was sold at an average price of $60.06, for a total transaction of $1,626,364.74. Following the sale, the insider now directly owns 113,865 shares of the company’s stock, valued at approximately $6,838,731.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 150,873 shares of company stock valued at $8,340,243. 9.93% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On BlackLine
Several institutional investors have recently added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. raised its stake in BlackLine by 90.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 210,000 shares of the technology company’s stock worth $11,579,000 after acquiring an additional 100,000 shares in the last quarter. Conestoga Capital Advisors LLC increased its position in shares of BlackLine by 24.9% during the third quarter. Conestoga Capital Advisors LLC now owns 1,759,098 shares of the technology company’s stock worth $96,997,000 after purchasing an additional 350,143 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of BlackLine by 3,027.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 224,944 shares of the technology company’s stock valued at $12,403,000 after purchasing an additional 217,751 shares during the last quarter. Everence Capital Management Inc. lifted its holdings in shares of BlackLine by 95.5% in the 3rd quarter. Everence Capital Management Inc. now owns 7,450 shares of the technology company’s stock valued at $411,000 after purchasing an additional 3,640 shares during the last quarter. Finally, Creative Planning boosted its position in shares of BlackLine by 88.9% in the 3rd quarter. Creative Planning now owns 7,984 shares of the technology company’s stock valued at $440,000 after purchasing an additional 3,758 shares during the period. Hedge funds and other institutional investors 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.
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