Insider Selling: BlackLine, Inc. (NASDAQ:BL) Insider Sells 10,000 Shares of Stock

BlackLine, Inc. (NASDAQ:BL) insider Karole Morgan-Prager sold 10,000 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $55.00, for a total value of $550,000.00. Following the completion of the sale, the insider now owns 113,865 shares in the company, valued at $6,262,575. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, August 7th, Karole Morgan-Prager sold 10,000 shares of BlackLine stock. The stock was sold at an average price of $50.00, for a total transaction of $500,000.00.

BlackLine Trading Down 1.3 %

BlackLine stock opened at $53.89 on Friday. The firm has a market cap of $3.33 billion, a price-to-earnings ratio of 234.30, a price-to-earnings-growth ratio of 12.80 and a beta of 0.89. BlackLine, Inc. has a 1 year low of $43.37 and a 1 year high of $69.31. The firm’s 50 day moving average price is $50.08 and its two-hundred day moving average price is $52.79. The company has a debt-to-equity ratio of 2.74, a quick ratio of 1.95 and a current ratio of 1.95.

BlackLine (NASDAQ:BL) last released its earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.08. The company had revenue of $160.51 million during 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 company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.69) earnings per share. On average, research analysts predict that BlackLine, Inc. will post 0.94 EPS for the current fiscal year.

Hedge Funds Weigh In On BlackLine

Several institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new stake in shares of BlackLine during the 3rd quarter worth $2,286,000. Sanctuary Advisors LLC bought a new stake in BlackLine during the second quarter valued at about $220,000. Teachers Retirement System of The State of Kentucky grew its position in shares of BlackLine by 39.6% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 19,600 shares of the technology company’s stock valued at $949,000 after purchasing an additional 5,563 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of BlackLine by 5.6% in the second quarter. Cetera Investment Advisers now owns 25,701 shares of the technology company’s stock worth $1,245,000 after purchasing an additional 1,357 shares during the period. Finally, Quarry LP acquired a new position in shares of BlackLine during the 2nd quarter worth about $32,000. 95.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BL shares. JMP Securities reiterated a “market outperform” rating and set a $81.00 price target on shares of BlackLine in a research report on Monday, July 15th. Citigroup decreased their target price on shares of BlackLine from $62.00 to $54.00 and set a “neutral” rating for the company in a research report on Friday, June 28th. Truist Financial lowered their target price on shares of BlackLine from $60.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. JPMorgan Chase & Co. reduced their price target 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 lowered their price objective on shares of BlackLine from $55.00 to $51.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $59.90.

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.