The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. BlackLine Inc shares valued at $279,710 were sold by Whye Barbara on Aug 13 ’24. At $52.01 per share, Whye Barbara sold 5,378 shares. The insider’s holdings dropped to 6,777 shares worth approximately $0.35 million following the completion of this transaction.
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Also, Whye Barbara purchased 5,378 shares, netting a total of over 279,710 in proceeds.
Before that, Morgan-Prager Karole had sold 10,000 shares from its account. In a trade valued at $500,000, the CHIEF LEGAL AND ADMINISTRATIVE traded BlackLine Inc shares for $50.00 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $6.0 million.
As published in a research note from Piper Sandler on April 23, 2024, BlackLine Inc [BL] has been rated up from an Underweight to a Neutral and the price target has been revised to $62 from $55. Analysts at Wolfe Research started covering the stock with ‘”a Peer perform”‘ outlook in a report released in mid March. As of February 14, 2024, William Blair has decreased its “an Outperform” rating to a “Mkt perform” for BL. Earlier on January 02, 2024, Piper Sandler downgraded its rating. Their new recommendation was “an Underweight” for BL stock which previously was a “a Neutral”.
Analyzing BL Stock Performance
During the last five days, there has been a surge of approximately 5.39%. Over the course of the year, BlackLine Inc shares have dropped approximately -16.74%. Shares of the company reached a 52-week high of $69.31 on 03/13/24 and a 52-week low of $43.37 on 08/05/24. A 50-day SMA is recorded $47.43, while a 200-day SMA reached $56.20. Nevertheless, trading volume fell to 1.13 million shares from 0.8 million shares the previous day.
Support And Resistance Levels for BlackLine Inc (BL)
According to the 24-hour chart, there is a support level at 51.59, which, if violated, would cause prices to drop to 51.18. In the upper region, resistance lies at 52.62. The next price resistance is at 53.24. RSI (Relative Strength Index) is 64.30 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.36, which suggests the price will increase in the coming days. Percent R is at 8.97%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
