BlackLine, Inc. (NASDAQ:BL) CRO Mark Woodhams Sells 9,088 Shares

BlackLine, Inc. (NASDAQ:BL) CRO Mark Woodhams sold 9,088 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $49.67, for a total value of $451,400.96. Following the transaction, the executive now directly owns 65,414 shares in the company, valued at $3,249,113.38. This trade represents a 12.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Mark Woodhams also recently made the following trade(s):

• On Thursday, December 12th, Mark Woodhams sold 24,408 shares of BlackLine stock. The stock was sold at an average price of $64.32, for a total value of $1,569,922.56.

BlackLine Trading Up 0.0 %

NASDAQ BL opened at $49.11 on Tuesday. BlackLine, Inc. has a one year low of $43.37 and a one year high of $69.31. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.59 and a quick ratio of 2.69. The firm has a market cap of $3.07 billion, a P/E ratio of 33.87, a P/E/G ratio of 10.50 and a beta of 0.92. The stock’s 50-day moving average is $59.46 and its 200-day moving average is $57.04.

BlackLine (NASDAQ:BL) last posted its earnings results on Tuesday, February 11th. The technology company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.29). BlackLine had a return on equity of 21.63% and a net margin of 24.67%. Sell-side analysts anticipate that BlackLine, Inc. will post 0.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BlackLine

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio bought a new position in shares of BlackLine during the fourth quarter worth about $4,361,000. Castleark Management LLC acquired a new position in BlackLine during the 4th quarter worth approximately $1,510,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of BlackLine by 32.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 157,535 shares of the technology company’s stock worth $9,572,000 after acquiring an additional 38,463 shares in the last quarter. Woodline Partners LP acquired a new stake in shares of BlackLine in the fourth quarter valued at approximately $365,000. Finally, Sone Capital Management LLC bought a new stake in shares of BlackLine in the fourth quarter worth $4,934,000. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on BL shares. BMO Capital Markets lowered their price target on shares of BlackLine from $68.00 to $60.00 and set a “market perform” rating for the company in a research report on Wednesday, February 12th. JMP Securities reaffirmed a “market outperform” rating and set a $86.00 target price on shares of BlackLine in a report on Wednesday, January 15th. Morgan Stanley increased their price target on BlackLine from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. StockNews.com raised BlackLine from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Finally, Truist Financial cut their target price on BlackLine from $60.00 to $55.00 and set a “hold” rating on the stock in a research note on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $66.40.

BlackLine Company Profile

BlackLine, Inc operates a cloud-based software platform which is designed to transform accounting and finance operations for organizations of all types and sizes. Its scalable platform supports critical accounting processes such as the financial close, account reconciliations, intercompany accounting, and controls assurance.