Insider Selling: BlackLine, Inc. (NASDAQ:BL) CRO Sells $451,400.96 in Stock

BlackLine, Inc. (NASDAQ:BL) CRO Mark Woodhams sold 9,088 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $49.67, for a total value of $451,400.96. Following the completion of the transaction, the executive now directly owns 65,414 shares in the company, valued at $3,249,113.38. This trade represents a 12.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 Price Performance

NASDAQ:BL opened at $48.99 on Thursday. The business’s 50-day moving average is $59.15 and its 200 day moving average is $57.02. 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 $3.06 billion, a P/E ratio of 33.79, a P/E/G ratio of 10.80 and a beta of 0.92. The company has a current ratio of 2.59, a quick ratio of 2.69 and a debt-to-equity ratio of 2.00.

BlackLine (NASDAQ:BL) last released its quarterly earnings data 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 return on equity of 21.63% and a net margin of 24.67%. On average, equities research analysts forecast that BlackLine, Inc. will post 0.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on BL shares. Citigroup lowered their price target on shares of BlackLine from $73.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Morgan Stanley lifted their target price on shares of BlackLine from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. StockNews.com lowered BlackLine from a “buy” rating to a “hold” rating in a research note on Wednesday. Truist Financial lowered their price objective on BlackLine from $60.00 to $55.00 and set a “hold” rating on the stock in a research report on Wednesday, February 12th. Finally, Bank of America raised BlackLine from an “underperform” rating to a “buy” rating and upped their price objective for the stock from $50.00 to $75.00 in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $66.40.

Institutional Investors Weigh In On BlackLine

A number of hedge funds have recently bought and sold shares of BL. Creative Planning raised its position in BlackLine by 88.9% during the third quarter. Creative Planning now owns 7,984 shares of the technology company’s stock valued at $440,000 after purchasing an additional 3,758 shares during the period. Assenagon Asset Management S.A. increased its position in shares of BlackLine by 3,027.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 224,944 shares of the technology company’s stock valued at $12,403,000 after purchasing an additional 217,751 shares during the last quarter. Conestoga Capital Advisors LLC increased its position in shares of BlackLine by 24.9% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,759,098 shares of the technology company’s stock valued at $96,997,000 after purchasing an additional 350,143 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in BlackLine by 90.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 210,000 shares of the technology company’s stock valued at $11,579,000 after buying an additional 100,000 shares during the period. Finally, Principal Financial Group Inc. lifted its position in BlackLine by 13.6% in the third quarter. Principal Financial Group Inc. now owns 290,775 shares of the technology company’s stock worth $16,033,000 after buying an additional 34,919 shares during the last quarter. Hedge funds and other 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.