In a filing, BlackLine Inc. revealed its Director Unterman Thomas unloaded Company’s shares for reported $45255.0 on Sep 01. In the deal valued at $60.34 per share,750 shares were sold. As a result of this transaction, Unterman Thomas now holds 53,720 shares worth roughly $ 3.05 million.
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Then, Unterman Thomas sold 750 shares, generating $45,000 in total proceeds. Upon selling the shares at $60.00, the Director now owns 54,470 shares.
Before that, Woodhams Mark sold 558 shares. BlackLine Inc. shares valued at $29,016 were divested by the Chief Revenue Officer at a price of $52.00 per share. As a result of the transaction, Woodhams Mark now holds 94,083 shares, worth roughly $5.35 million.
Morgan Stanley initiated its BlackLine Inc. [BL] rating to an Equal-weight in a research note published on Tuesday, May 22, 2023; the price target was $60. PT values the company’s stock at a premium of 5.25 to its Tuesday closing price.
Price Performance Review of BL
On Tuesday, BlackLine Inc. [NASDAQ:BL] saw its stock fall -2.59% to $56.85. On the same session, the stock had its day’s lowest price of $56.80, but rose to a high of $58.25. Over the last five days, the stock has gained 2.56%. BlackLine Inc. shares have fallen nearly -15.49% since the year began. Nevertheless, the stocks have fallen -12.59% over the past one year. While a 52-week high of $77.90 was reached on 02/02/23, a 52-week low of $48.22 was recorded on 08/09/23. SMA at 50 days reached $54.60, while 200 days put it at $61.03. A total of 0.47 million shares were traded, compared to the trading of 0.79 million shares in the previous session.
Levels Of Support And Resistance For BL Stock
The 24-hour chart illustrates a support level at 56.35, which if violated will result in even more drops to 55.85. On the upside, there is a resistance level at 57.80. A further resistance level may holdings at 58.75. The Relative Strength Index (RSI) on the 14-day chart is 56.54, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 3.90, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 35.30%. Stochastics %K at 73.72% indicates the stock is a holding.
How much short interest is there in BlackLine Inc.?
A steep rise in short interest was recorded in BlackLine Inc. stocks on Aug 14, 2023, growing by 0.0 shares to a total of 2.52 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 2.52 million shares.
BlackLine Inc. [BL] – Who Are The Largest Shareholders?
In filings from The Vanguard Group, Inc., it is revealed that the company now owns 6,118,054 shares, or roughly 10.12% of the outstanding BL shares. In other words, the investor’s shares have risen by 747,015 from its previous 13-F filing of 5371039.0. Additionally, BlackRock Fund Advisors increased 10.72% of its stake after which the total value it holdings stand at $222,532,823, while Kayne Anderson Rudnick Investment reduced -0.01% of its stake to hold $125.41 million in the firm. Over the last quarter, Riverbridge Partners LLC purchased 58,688 shares of BlackLine Inc., while Iconiq Capital LLC bought 0 shares. At present, Brown Advisory LLC is holding 1,857,021 shares valued at $107.86 million. D. F. Dent & Co., Inc. owned 1,761,025 shares of the company at the time of its most recent 13F filing, worth $102.28 million.
According to FactSet, BlackLine Inc.’s share price will average $58.82 in the next year, based on opinions of analysts polled by the firm. This is down nearly -2.33 percent from its previous closing price of $58.36. Analysts expect BlackLine Inc. stock to reach the higher price of $81.00, while the lowest price estimate is $47.00. However, 13 analysts have rated BL stock as a Hold in their predictions for 2023.