Insider Selling: BlackLine, Inc. (NASDAQ:BL) Insider Sells 300 Shares of Stock

BlackLine, Inc. (NASDAQ:BL) insider Karole Morgan-Prager sold 300 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $55.01, for a total value of $16,503.00. Following the sale, the insider now owns 113,865 shares of the company’s stock, valued at approximately $6,263,713.65. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, October 2nd, Karole Morgan-Prager sold 5,773 shares of BlackLine stock. The stock was sold at an average price of $55.14, for a total transaction of $318,323.22.
• 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 transaction 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 transaction of $500,000.00.

BlackLine Stock Performance

NASDAQ:BL opened at $56.04 on Friday. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of 62.27, a price-to-earnings-growth ratio of 13.57 and a beta of 0.90. The firm’s fifty day moving average price is $51.03 and its 200 day moving average price is $52.43. BlackLine, Inc. has a 1-year low of $43.37 and a 1-year high of $69.31.

BlackLine (NASDAQ:BL) last released its earnings results on Tuesday, August 6th. The technology company reported $0.58 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $158.21 million. During the same quarter last year, the business earned ($0.69) EPS. The business’s revenue was up 11.0% on a year-over-year basis. On average, sell-side analysts expect that BlackLine, Inc. will post 0.96 EPS for the current year.

Institutional Investors Weigh In On BlackLine

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of BlackLine by 9.5% in the 1st quarter. Vanguard Group Inc. now owns 7,380,961 shares of the technology company’s stock valued at $476,662,000 after purchasing an additional 642,772 shares in the last quarter. Hawk Ridge Capital Management LP increased its holdings in BlackLine by 85.4% in the fourth quarter. Hawk Ridge Capital Management LP now owns 730,259 shares of the technology company’s stock valued at $45,597,000 after buying an additional 336,298 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of BlackLine during the 2nd quarter valued at approximately $15,128,000. Principal Financial Group Inc. boosted its stake in shares of BlackLine by 3,945.7% during the 1st quarter. Principal Financial Group Inc. now owns 265,845 shares of the technology company’s stock worth $17,168,000 after acquiring an additional 259,274 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of BlackLine by 65.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 579,481 shares of the technology company’s stock worth $28,076,000 after acquiring an additional 229,151 shares during the period. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. JMP Securities restated a “market outperform” rating and issued a $81.00 price objective on shares of BlackLine in a research note on Monday, July 15th. Morgan Stanley raised BlackLine from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $60.00 to $70.00 in a research report on Monday, September 30th. Piper Sandler cut their price target on BlackLine from $55.00 to $51.00 and set a “neutral” rating on the stock in a research 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, JPMorgan Chase & Co. cut their target price on shares of BlackLine from $50.00 to $47.00 and set an “underweight” rating on the stock in a report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, BlackLine has an average rating of “Hold” and a consensus price target 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.