Karole Morgan-Prager Sells 27,079 Shares of BlackLine, Inc. (NASDAQ:BL) Stock

BlackLine, Inc. (NASDAQ:BL) insider Karole Morgan-Prager sold 27,079 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $60.06, for a total value of $1,626,364.74. Following the transaction, the insider now directly owns 113,865 shares in the company, valued at approximately $6,838,731.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, October 8th, Karole Morgan-Prager sold 300 shares of BlackLine stock. The stock was sold at an average price of $55.01, for a total value of $16,503.00.
• 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 value of $318,323.22.
• On Monday, September 30th, Karole Morgan-Prager sold 10,000 shares of BlackLine stock. The stock was 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 0.9 %

Shares of NASDAQ BL opened at $57.57 on Wednesday. BlackLine, Inc. has a 12-month low of $43.37 and a 12-month high of $69.31. The company has a market cap of $3.56 billion, a P/E ratio of 250.30, a P/E/G ratio of 13.57 and a beta of 0.90. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 2.74. The stock has a fifty day moving average price of $52.26 and a 200 day moving average price of $52.00.

BlackLine (NASDAQ:BL) last announced its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.08. BlackLine had a return on equity of 33.96% and a net margin of 19.46%. The firm had revenue of $160.51 million during the quarter, compared to the consensus estimate of $158.21 million. During the same period in the prior year, the firm earned ($0.69) EPS. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. Research analysts anticipate that BlackLine, Inc. will post 0.96 EPS for the current fiscal year.

Institutional Trading of BlackLine

Large investors have recently modified their holdings of the business. Quadrature Capital Ltd grew its stake in shares of BlackLine by 346.5% during the first quarter. Quadrature Capital Ltd now owns 31,846 shares of the technology company’s stock valued at $2,055,000 after acquiring an additional 24,713 shares in the last quarter. Cetera Investment Advisers acquired a new stake in shares of BlackLine during the first quarter valued at about $1,572,000. Comerica Bank grew its stake in shares of BlackLine by 11.8% during the first quarter. Comerica Bank now owns 124,266 shares of the technology company’s stock valued at $8,025,000 after acquiring an additional 13,066 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of BlackLine during the first quarter valued at about $2,000,000. Finally, Teachers Retirement System of The State of Kentucky acquired a new stake in shares of BlackLine during the first quarter valued at about $907,000. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BL has been the topic of a number of recent analyst reports. Piper Sandler reduced their price target on BlackLine from $55.00 to $51.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Truist Financial cut their target price on BlackLine from $60.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. 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 report on Wednesday, August 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $81.00 target price on shares of BlackLine in a research report on Monday, July 15th. Finally, Morgan Stanley raised BlackLine from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $60.00 to $70.00 in a research report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average 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.