Mark Partin Sells 5,648 Shares of BlackLine, Inc. (NASDAQ:BL) Stock

BlackLine, Inc. (NASDAQ:BL) CFO Mark Partin sold 5,648 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $53.00, for a total transaction of $299,344.00. Following the sale, the chief financial officer now owns 226,844 shares of the company’s stock, valued at $12,022,732. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, September 30th, Mark Partin sold 85,308 shares of BlackLine stock. The stock was sold at an average price of $54.84, for a total transaction of $4,678,290.72.

BlackLine Trading Down 1.8 %

NASDAQ:BL opened at $54.13 on Wednesday. BlackLine, Inc. has a 12 month low of $43.37 and a 12 month high of $69.31. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of 235.35, a P/E/G ratio of 12.80 and a beta of 0.89. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 2.74. The company’s 50 day moving average is $49.67 and its 200-day moving average is $52.85.

BlackLine (NASDAQ:BL) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.08. BlackLine had a net margin of 19.46% and a return on equity of 33.96%. The company had revenue of $160.51 million for the quarter, compared to analyst estimates of $158.21 million. During the same quarter last year, the firm posted ($0.69) earnings per share. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. Equities analysts anticipate that BlackLine, Inc. will post 0.94 EPS for the current year.

Hedge Funds Weigh In On BlackLine

Institutional investors have recently modified their holdings of the company. Quadrature Capital Ltd increased its position in BlackLine by 346.5% during the first quarter. Quadrature Capital Ltd now owns 31,846 shares of the technology company’s stock worth $2,055,000 after acquiring an additional 24,713 shares during the period. Cetera Investment Advisers bought a new position in BlackLine during the first quarter worth $1,572,000. Comerica Bank increased its position in BlackLine by 11.8% during the first quarter. Comerica Bank now owns 124,266 shares of the technology company’s stock worth $8,025,000 after acquiring an additional 13,066 shares during the period. State of Alaska Department of Revenue bought a new position in BlackLine during the first quarter worth $2,000,000. Finally, Teachers Retirement System of The State of Kentucky bought a new position in BlackLine during the first quarter worth $907,000. Institutional investors own 95.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. JMP Securities restated a “market outperform” rating and set a $81.00 price target on shares of BlackLine in a report on Monday, July 15th. Citigroup decreased their price target on shares of BlackLine from $62.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, June 28th. Robert W. Baird decreased their price target on shares of BlackLine from $72.00 to $65.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. JPMorgan Chase & Co. reduced their target price on shares of BlackLine from $50.00 to $47.00 and set an “underweight” rating for the company in a research note on Wednesday, August 7th. Finally, Piper Sandler reduced their target price on shares of BlackLine from $55.00 to $51.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $59.90.

BlackLine Company Profile

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.