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

BlackLine, Inc. (NASDAQ:BL) CRO Mark Woodhams sold 9,088 shares of the stock in a transaction that occurred 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 completion of the sale, the executive now directly owns 65,414 shares of the company’s stock, valued at $3,249,113.38. The trade was a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

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

BlackLine Price Performance

Shares of BlackLine stock traded up $0.01 during trading on Monday, reaching $49.11. The company’s stock had a trading volume of 816,751 shares, compared to its average volume of 785,621. The business has a 50 day moving average price of $59.46 and a 200-day moving average price of $57.04. The company has a market capitalization of $3.07 billion, a P/E ratio of 33.87, a price-to-earnings-growth ratio of 10.50 and a beta of 0.92. The company has a quick ratio of 2.69, a current ratio of 2.59 and a debt-to-equity ratio of 2.00. BlackLine, Inc. has a 12-month low of $43.37 and a 12-month high of $69.31.

BlackLine (NASDAQ:BL) last announced its quarterly 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 net margin of 24.67% and a return on equity of 21.63%. As a group, sell-side analysts anticipate that BlackLine, Inc. will post 0.93 EPS for the current year.

Institutional Investors Weigh In On BlackLine

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. acquired a new position in shares of BlackLine during the 4th quarter worth $31,000. Global Retirement Partners LLC increased its holdings in BlackLine by 568.4% during the 4th quarter. Global Retirement Partners LLC now owns 528 shares of the technology company’s stock valued at $32,000 after acquiring an additional 449 shares in the last quarter. Quadrant Capital Group LLC raised its position in BlackLine by 243.5% during the fourth quarter. Quadrant Capital Group LLC now owns 584 shares of the technology company’s stock worth $35,000 after acquiring an additional 414 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of BlackLine by 41.2% in the fourth quarter. GAMMA Investing LLC now owns 634 shares of the technology company’s stock valued at $39,000 after purchasing an additional 185 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of BlackLine in the fourth quarter valued at approximately $50,000. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on BL. Truist Financial lowered their price objective on shares of BlackLine from $60.00 to $55.00 and set a “hold” rating on the stock in a research report on Wednesday, February 12th. Morgan Stanley boosted their price target on BlackLine from $70.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. BMO Capital Markets reduced their price objective on BlackLine from $68.00 to $60.00 and set a “market perform” rating for the company in a research note on Wednesday, February 12th. Piper Sandler lowered their target price on BlackLine from $60.00 to $58.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 12th. Finally, Citigroup cut their price target on BlackLine from $73.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, BlackLine presently has an average rating of “Hold” and a consensus target price of $66.40.

About BlackLine

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.