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Potential Price Increase for BlackLine Inc (BL) After Recent Insider Activity

In a filing, BlackLine Inc revealed its Chief Revenue Officer Woodhams Mark unloaded Company’s shares for reported $1.57 million on Dec 12 ’24. In the deal valued at $64.32 per share,24,408 shares were sold. As a result of this transaction, Woodhams Mark now holds 72,920 shares worth roughly $4.7 million.

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Then, Woodhams Mark bought 24,408 shares, generating $1,569,985 in total proceeds.

Before that, Morgan-Prager Karole sold 50,181 shares. BlackLine Inc shares valued at $3,035,762 were divested by the CHIEF LEGAL AND ADMINISTRATIVE at a price of $60.50 per share. As a result of the transaction, Morgan-Prager Karole now holds 113,865 shares, worth roughly $7.34 million.

Morgan Stanley upgraded its BlackLine Inc [BL] rating to an Overweight from a an Equal-weight in a research note published on September 30, 2024; the price target was increased to $70 from $60. A number of analysts have revised their coverage, including Piper Sandler’s analysts, who increased its forecast for the stock in late April from “an Underweight” to “a Neutral”. Wolfe Research began covering BL with “Peer perform” recommendation on March 18, 2024. William Blair revised its rating on February 14, 2024. It rated BL as “a Mkt perform” which previously was an “an Outperform”.

Price Performance Review of BL

On Tuesday, BlackLine Inc [NASDAQ:BL] saw its stock fall -0.74% to $64.46. Over the last five days, the stock has gained 1.78%. BlackLine Inc shares have risen nearly 3.24% since the year began. Nevertheless, the stocks have risen 3.78% over the past one year. While a 52-week high of $69.31 was reached on 03/13/24, a 52-week low of $43.37 was recorded on 08/05/24. SMA at 50 days reached $59.74, while 200 days put it at $55.19.

Levels Of Support And Resistance For BL Stock

The 24-hour chart illustrates a support level at 63.07, which if violated will result in even more drops to 61.67. On the upside, there is a resistance level at 65.45. A further resistance level may holdings at 66.43. The Relative Strength Index (RSI) on the 14-day chart is 61.21, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.91, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 16.83%. Stochastics %K at 82.61% indicates the stock is a selling.

How much short interest is there in BlackLine Inc?

A steep rise in short interest was recorded in BlackLine Inc stocks on 2024-11-29, growing by 64945.0 shares to a total of 4.67 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-31 was 4.61 million shares. There was a rise of 1.39%, which implies that there is a positive sentiment for the stock.

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