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 $216,731 were sold by Morgan-Prager Karole on Oct 09 ’24. At $55.19 per share, Morgan-Prager Karole sold 3,927 shares. The insider’s holdings dropped to 113,865 shares worth approximately $6.74 million following the completion of this transaction.
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Also, Morgan-Prager Karole sold 300 shares, netting a total of over 16,503 in proceeds. Following the sale of shares at $55.01 each, the insider now holds 113,865 shares.
Before that, Morgan-Prager Karole had added 3,927 shares to its account. In a trade valued at $216,723, the Officer bought BlackLine Inc shares for $55.19 each.
As published in a research note from Morgan Stanley on September 30, 2024, BlackLine Inc [BL] has been rated up from an Equal-weight to an Overweight and the price target has been revised to $70 from $60. Analysts at Piper Sandler upgraded the stock from ‘”an Underweight”‘ to ‘”a Neutral”‘ outlook in a report released in late April. As of March 18, 2024, Wolfe Research has initiated its “Peer perform” rating for BL. Earlier on February 14, 2024, William Blair downgraded its rating. Their new recommendation was “a Mkt perform” for BL stock which previously was a “an Outperform”.
Analyzing BL Stock Performance
During the last five days, there has been a surge of approximately 7.85%. Over the course of the year, BlackLine Inc shares have dropped approximately -5.20%. 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 $51.92, while a 200-day SMA reached $54.89. Nevertheless, trading volume fell to 0.7 million shares from 0.81 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 58.43, which, if violated, would cause prices to drop to 57.66. In the upper region, resistance lies at 59.64. The next price resistance is at 60.09. RSI (Relative Strength Index) is 77.12 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.72, which suggests the price will increase in the coming days. Percent R is at 2.19%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
