Insider Selling: BlackLine, Inc. (NASDAQ:BL) CRO Sells 9,088 Shares of Stock

BlackLine, Inc. (NASDAQ:BL) CRO Mark Woodhams sold 9,088 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $49.67, for a total transaction of $451,400.96. Following the sale, the executive now directly owns 65,414 shares of the company’s stock, valued at approximately $3,249,113.38. This trade represents a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

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

BlackLine Stock Up 0.3 %

Shares of BL stock opened at $49.26 on Wednesday. The firm has a fifty day moving average of $59.15 and a 200-day moving average of $57.02. 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. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 33.97, a P/E/G ratio of 10.80 and a beta of 0.92.

BlackLine (NASDAQ:BL) last issued its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.29). BlackLine had a return on equity of 21.63% and a net margin of 24.67%. As a group, equities research analysts predict that BlackLine, Inc. will post 0.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on BL shares. Citigroup dropped their price target on shares of BlackLine from $73.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Piper Sandler decreased their price objective on shares of BlackLine from $60.00 to $58.00 and set an “underweight” rating for the company in a report on Wednesday, February 12th. Morgan Stanley boosted their price objective on shares of BlackLine from $70.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Truist Financial decreased their price objective on shares of BlackLine from $60.00 to $55.00 and set a “hold” rating for the company in a report on Wednesday, February 12th. Finally, BMO Capital Markets decreased their price objective on shares of BlackLine from $68.00 to $60.00 and set a “market perform” rating for the company in a report on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $66.40.

Institutional Investors Weigh In On BlackLine

Large investors have recently made changes to their positions in the stock. SBI Securities Co. Ltd. bought a new stake in shares of BlackLine during the fourth quarter worth $31,000. Global Retirement Partners LLC grew its position in BlackLine by 568.4% in the fourth quarter. Global Retirement Partners LLC now owns 528 shares of the technology company’s stock valued at $32,000 after purchasing an additional 449 shares in the last quarter. Quadrant Capital Group LLC grew its position in BlackLine by 243.5% in the fourth quarter. Quadrant Capital Group LLC now owns 584 shares of the technology company’s stock valued at $35,000 after purchasing an additional 414 shares in the last quarter. GAMMA Investing LLC grew its position in 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 bought a new position in BlackLine in the fourth quarter valued at $50,000. Institutional investors own 95.13% of the company’s stock.

BlackLine Company Profile

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.