BlackLine, Inc. (NASDAQ:BL) Director Sells $279,709.78 in Stock

BlackLine, Inc. (NASDAQ:BL) Director Barbara Whye sold 5,378 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $52.01, for a total transaction of $279,709.78. Following the completion of the transaction, the director now owns 6,777 shares in the company, valued at $352,471.77. The transaction was disclosed in a filing with the SEC, which is available at this link.

BlackLine Trading Down 0.4 %

NASDAQ BL traded down $0.20 during mid-day trading on Wednesday, hitting $51.99. The company’s stock had a trading volume of 1,189,402 shares, compared to its average volume of 974,865. The firm has a market capitalization of $3.21 billion, a P/E ratio of 227.48, a price-to-earnings-growth ratio of 5.32 and a beta of 0.86. The company has a debt-to-equity ratio of 4.08, a current ratio of 2.30 and a quick ratio of 2.30. BlackLine, Inc. has a 52-week low of $43.37 and a 52-week high of $69.31. The stock’s fifty day simple moving average is $47.29 and its two-hundred day simple moving average is $55.32.

BlackLine (NASDAQ:BL) last posted its earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.08. BlackLine had a net margin of 2.30% and a return on equity of 9.07%. The business had revenue of $160.51 million for the quarter, compared to analyst estimates of $158.21 million. During the same quarter in the previous year, the business posted ($0.69) EPS. The business’s quarterly revenue was up 11.0% on a year-over-year basis. Research analysts expect that BlackLine, Inc. will post 1.1 EPS for the current year.

Institutional Investors Weigh In On BlackLine

Large investors have recently modified their holdings of the stock. Scalar Gauge Management LLC purchased a new position in BlackLine in the 2nd quarter valued at about $2,180,000. 272 Capital LP acquired a new stake in shares of BlackLine in the 2nd quarter valued at about $2,535,000. Point72 DIFC Ltd bought a new position in shares of BlackLine during the second quarter worth about $537,000. Bank of Montreal Can grew its stake in BlackLine by 28.4% in the second quarter. Bank of Montreal Can now owns 183,201 shares of the technology company’s stock worth $8,882,000 after purchasing an additional 40,523 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its holdings in BlackLine by 8.3% in the second quarter. Public Sector Pension Investment Board now owns 112,872 shares of the technology company’s stock valued at $5,469,000 after buying an additional 8,642 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BL. Citigroup reduced their price objective on shares of BlackLine from $62.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, June 28th. William Blair raised BlackLine to a “hold” rating in a research note on Tuesday, May 7th. Robert W. Baird lowered 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. JPMorgan Chase & Co. reduced their target price on BlackLine from $50.00 to $47.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 7th. Finally, Piper Sandler lowered their price target on BlackLine from $55.00 to $51.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, BlackLine presently has an average rating of “Hold” and an average price target of $58.78.

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.