BlackLine, Inc. (NASDAQ:BL) Insider Sells $16,503.00 in Stock

BlackLine, Inc. (NASDAQ:BL) insider Karole Morgan-Prager sold 300 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $55.01, for a total value of $16,503.00. Following the completion of the transaction, the insider now owns 113,865 shares of the company’s stock, valued at $6,263,713.65. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Karole Morgan-Prager also recently made the following trade(s):

• On Wednesday, October 2nd, Karole Morgan-Prager sold 5,773 shares of BlackLine stock. The shares were sold at an average price of $55.14, for a total value of $318,323.22.
• On Monday, September 30th, Karole Morgan-Prager sold 10,000 shares of BlackLine stock. The shares were sold at an average price of $55.00, for a total value of $550,000.00.
• On Wednesday, August 7th, Karole Morgan-Prager sold 10,000 shares of BlackLine stock. The shares were sold at an average price of $50.00, for a total value of $500,000.00.

BlackLine Price Performance

BlackLine stock opened at $56.04 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 2.74. The company has a market capitalization of $3.48 billion, a PE ratio of 62.27, a P/E/G ratio of 13.57 and a beta of 0.90. BlackLine, Inc. has a 12 month low of $43.37 and a 12 month high of $69.31. The stock has a 50-day moving average price of $51.03 and a two-hundred day moving average price of $52.36.

BlackLine (NASDAQ:BL) last posted its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.08. The company had revenue of $160.51 million for the quarter, compared to analyst estimates of $158.21 million. BlackLine had a return on equity of 33.96% and a net margin of 19.46%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.69) earnings per share. Analysts expect that BlackLine, Inc. will post 0.96 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BL. Robert W. Baird decreased their price objective on BlackLine from $72.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Citigroup cut their target price on BlackLine from $62.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, June 28th. JPMorgan Chase & Co. cut their target price on BlackLine from $50.00 to $47.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 7th. Truist Financial cut their target price on BlackLine from $60.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. Finally, JMP Securities reissued a “market outperform” rating and set a $81.00 target price on shares of BlackLine in a report on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $59.90.

Institutional Investors Weigh In On BlackLine

Several hedge funds and other institutional investors have recently modified their holdings of BL. Quadrature Capital Ltd lifted its position in shares of BlackLine by 346.5% during the 1st quarter. Quadrature Capital Ltd now owns 31,846 shares of the technology company’s stock valued at $2,055,000 after buying an additional 24,713 shares during the last quarter. Cetera Investment Advisers bought a new position in shares of BlackLine during the 1st quarter valued at about $1,572,000. Comerica Bank boosted its holdings in BlackLine by 11.8% during the 1st quarter. Comerica Bank now owns 124,266 shares of the technology company’s stock valued at $8,025,000 after acquiring an additional 13,066 shares during the period. State of Alaska Department of Revenue purchased a new stake in BlackLine during the 1st quarter valued at about $2,000,000. Finally, Teachers Retirement System of The State of Kentucky purchased a new stake in BlackLine during the 1st quarter valued at about $907,000. Institutional investors own 95.13% of the company’s stock.

About BlackLine

BlackLine, Inc provides cloud-based solutions to automate and streamline accounting and finance operations worldwide. It offers financial close management solutions, such as account reconciliations that provides a centralized workspace for users to collaborate on account reconciliations; transaction matching that analyzes and reconciles individual transactions; task management to create and manage processes and task lists; and financial reporting analytics that enables analysis and validation of financial data.