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BlackLine Inc [BL] Investment Guide: What You Need to Know

BlackLine Inc’s recent filing unveils that its CO-CEO Ryan Owen acquired Company’s shares for reported $0.35 million on Jun 11 ’24. In the deal valued at $46.11 per share,7,552 shares were bought. As a result of this transaction, Ryan Owen now holds 153,500 shares worth roughly $7.38 million.

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Then, Partin Mark sold 50,000 shares, generating $2,369,100 in total proceeds. Upon selling the shares at $47.38, the CHIEF FINANCIAL OFFICER now owns 229,341 shares.

Before that, Duan Jimmy C bought 2,000 shares. BlackLine Inc shares valued at $95,450 were divested by the Chief Customer Officer at a price of $47.73 per share. As a result of the transaction, Duan Jimmy C now holds 50,360 shares, worth roughly $2.42 million.

Piper Sandler upgraded its BlackLine Inc [BL] rating to a Neutral from a an Underweight in a research note published on April 23, 2024; the price target was increased to $62 from $55. A number of analysts have revised their coverage, including Wolfe Research’s analysts, who began to cover the stock in mid March with a ‘”a Peer perform”‘ rating. William Blair also remained covering BL and has decreased its forecast on February 14, 2024 with a “Mkt perform” recommendation from previously “an Outperform” rating. Piper Sandler revised its rating on January 02, 2024. It rated BL as “an Underweight” which previously was an “a Neutral”.

Price Performance Review of BL

On Tuesday, BlackLine Inc [NASDAQ:BL] saw its stock jump 0.04% to $48.07. Over the last five days, the stock has gained 3.00%. BlackLine Inc shares have fallen nearly -23.01% since the year began. Nevertheless, the stocks have fallen -10.68% over the past one year. While a 52-week high of $69.31 was reached on 03/13/24, a 52-week low of $43.79 was recorded on 06/20/24. SMA at 50 days reached $52.41, while 200 days put it at $57.09. A total of 1.19 million shares were traded, compared to the trading of 1.46 million shares in the previous session.

Levels Of Support And Resistance For BL Stock

The 24-hour chart illustrates a support level at 47.61, which if violated will result in even more drops to 47.16. On the upside, there is a resistance level at 48.67. A further resistance level may holdings at 49.27. The Relative Strength Index (RSI) on the 14-day chart is 47.34, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.69, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 29.05%. Stochastics%K at 72.95% indicates the stock is a holding.

The most recent change occurred on May 22, 2023 when Morgan Stanley began covering the stock and recommended ‘”an Equal-weight”‘ rating along with a $60 price target.

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