Blackline Inc (NASDAQ:BL) hit a new 52-week high during trading on Monday . The company traded as high as $41.70 and last traded at $40.19, with a volume of 635900 shares changing hands. The stock had previously closed at $40.19.
BL has been the subject of a number of recent analyst reports. BidaskClub upgraded shares of Blackline from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. JPMorgan Chase & Co. downgraded shares of Blackline from a “neutral” rating to an “underweight” rating and set a $27.00 price objective for the company. in a research report on Thursday, January 25th. SunTrust Banks restated a “buy” rating and issued a $42.00 price objective on shares of Blackline in a research report on Friday, November 3rd. JMP Securities raised shares of Blackline from a “market perform” rating to an “outperform” rating in a report on Thursday, November 16th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $46.00 target price on shares of Blackline in a report on Thursday, February 15th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Blackline has an average rating of “Buy” and a consensus target price of $37.95.
The company has a market capitalization of $2,127.53, a price-to-earnings ratio of -54.31 and a beta of 1.99.
In other news, major shareholder Sumeru (Gp) L.L.C. Slta sold 2,649,698 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $34.07, for a total transaction of $90,275,210.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William J.G. Griffith sold 1,415,519 shares of the firm’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 $48,226,732.33. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,512,750 shares of company stock valued at $153,772,343. 22.35% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of BL. Metropolitan Life Insurance Co. NY purchased a new stake in Blackline in the 4th quarter worth approximately $175,000. Fortaleza Asset Management Inc. grew its stake in Blackline by 98.2% in the 3rd quarter. Fortaleza Asset Management Inc. now owns 6,215 shares of the technology company’s stock worth $212,000 after acquiring an additional 3,080 shares during the period. Wolverine Trading LLC purchased a new stake in Blackline in the 3rd quarter worth approximately $246,000. MetLife Investment Advisors LLC purchased a new stake in Blackline in the 4th quarter worth approximately $248,000. Finally, First Republic Investment Management Inc. purchased a new stake in Blackline in the 3rd quarter worth approximately $257,000. 86.07% of the stock is owned by institutional investors and hedge funds.
WARNING: “Blackline (BL) Sets New 12-Month High at $41.70” was posted by Ticker Report and is the property of of Ticker Report. If you are viewing this article on another site, it was illegally copied and reposted in violation of US & international trademark & copyright laws. The correct version of this article can be read at https://www.tickerreport.com/banking-finance/3224127/blackline-bl-sets-new-12-month-high-at-41-70.html.
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.
Receive News & Ratings for Blackline Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackline and related companies with MarketBeat.com's FREE daily email newsletter.