BlackLine, Inc. (NASDAQ:BL) Insider Sells $318,323.22 in Stock

BlackLine, Inc. (NASDAQ:BL) insider Karole Morgan-Prager sold 5,773 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $55.14, for a total value of $318,323.22. Following the completion of the transaction, the insider now directly owns 113,865 shares of the company’s stock, valued at approximately $6,278,516.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• 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 stock was sold at an average price of $50.00, for a total value of $500,000.00.

BlackLine Stock Up 1.2 %

NASDAQ:BL opened at $54.51 on Monday. BlackLine, Inc. has a twelve month low of $43.37 and a twelve month high of $69.31. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of 237.00, a price-to-earnings-growth ratio of 12.80 and a beta of 0.90. 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 stock’s 50 day moving average price is $50.21 and its two-hundred day moving average price is $52.57.

BlackLine (NASDAQ:BL) last announced its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.58 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 the consensus estimate of $158.21 million. BlackLine had a net margin of 19.46% and a return on equity of 33.96%. The company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.69) EPS. Equities research analysts expect that BlackLine, Inc. will post 0.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BL shares. JMP Securities reiterated a “market outperform” rating and issued a $81.00 price target on shares of BlackLine in a report on Monday, July 15th. JPMorgan Chase & Co. lowered their target price on BlackLine from $50.00 to $47.00 and set an “underweight” rating for the company in a report on Wednesday, August 7th. BTIG Research cut their price target on BlackLine from $71.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Truist Financial decreased their price objective on BlackLine from $60.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Finally, Robert W. Baird cut their target price on BlackLine from $72.00 to $65.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $59.90.

Institutional Trading of BlackLine

Several institutional investors and hedge funds have recently bought and sold shares of BL. Quadrature Capital Ltd increased its holdings 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 worth $2,055,000 after acquiring an additional 24,713 shares during the last quarter. Cetera Investment Advisers acquired a new position in shares of BlackLine in the first quarter valued at $1,572,000. Comerica Bank raised its position in shares of BlackLine by 11.8% in the first quarter. Comerica Bank now owns 124,266 shares of the technology company’s stock valued at $8,025,000 after purchasing an additional 13,066 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of BlackLine during the 1st quarter worth about $2,000,000. Finally, Teachers Retirement System of The State of Kentucky acquired a new stake in shares of BlackLine during the 1st quarter worth 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.