Insider Selling: BlackLine, Inc. (NASDAQ:BL) Insider Sells $550,000.00 in Stock

by · The Cerbat Gem

BlackLine, Inc. (NASDAQ:BL – Get Free Report) insider Karole Morgan-Prager sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $55.00, for a total value of $550,000.00. Following the completion of the transaction, the insider now directly owns 113,865 shares of the company’s stock, valued at $6,262,575. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

  • On Wednesday, August 7th, Karole Morgan-Prager sold 10,000 shares of BlackLine stock. The shares were sold at an average price of $50.00, for a total value of $500,000.00.

BlackLine Trading Down 1.3 %

NASDAQ:BL opened at $53.89 on Friday. The stock has a market cap of $3.33 billion, a price-to-earnings ratio of 234.30, a price-to-earnings-growth ratio of 12.80 and a beta of 0.89. BlackLine, Inc. has a one year low of $43.37 and a one year high of $69.31. The company has a debt-to-equity ratio of 2.74, a quick ratio of 1.95 and a current ratio of 1.95. The business’s 50-day simple moving average is $50.08 and its 200 day simple moving average is $52.79.

BlackLine (NASDAQ:BL – Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.08. The business had revenue of $160.51 million during the quarter, compared to the consensus estimate of $158.21 million. BlackLine had a net margin of 19.46% and a return on equity of 33.96%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.69) earnings per share. As a group, sell-side analysts predict that BlackLine, Inc. will post 0.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BlackLine

Several large investors have recently modified their holdings of BL. Fifth Third Bancorp boosted its holdings in BlackLine by 13.0% in the second quarter. Fifth Third Bancorp now owns 2,306 shares of the technology company’s stock worth $112,000 after purchasing an additional 266 shares during the period. Arizona State Retirement System lifted its position in shares of BlackLine by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 14,638 shares of the technology company’s stock worth $709,000 after buying an additional 325 shares during the last quarter. Covestor Ltd boosted its holdings in shares of BlackLine by 29.4% in the 1st quarter. Covestor Ltd now owns 1,495 shares of the technology company’s stock valued at $97,000 after buying an additional 340 shares during the period. Whittier Trust Co. grew its position in shares of BlackLine by 9.7% during the 1st quarter. Whittier Trust Co. now owns 4,699 shares of the technology company’s stock valued at $303,000 after buying an additional 414 shares during the last quarter. Finally, YHB Investment Advisors Inc. acquired a new stake in BlackLine during the first quarter worth about $33,000. Institutional investors own 95.13% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Robert W. Baird reduced their target price on shares of BlackLine from $72.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. JPMorgan Chase & Co. reduced their price target on shares of BlackLine from $50.00 to $47.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 7th. Piper Sandler dropped their price objective on BlackLine from $55.00 to $51.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. JMP Securities reiterated a “market outperform” rating and set a $81.00 target price on shares of BlackLine in a report on Monday, July 15th. Finally, BTIG Research cut their price target on BlackLine from $71.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $59.90.

Get Our Latest Stock Report on BL

About BlackLine

(Get Free Report)

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.

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