BlackLine, Inc. (NASDAQ:BL) CFO Mark Partin Sells 5,648 Shares

BlackLine, Inc. (NASDAQ:BL) CFO Mark Partin sold 5,648 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $53.00, for a total transaction of $299,344.00. Following the completion of the sale, the chief financial officer now owns 226,844 shares of the company’s stock, valued at $12,022,732. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

BlackLine Stock Performance

Shares of BL traded up $2.29 during mid-day trading on Monday, hitting $55.14. 1,689,369 shares of the company’s stock were exchanged, compared to its average volume of 930,800. BlackLine, Inc. has a 52 week low of $43.37 and a 52 week high of $69.31. The stock’s 50-day simple moving average is $49.50 and its 200-day simple moving average is $52.93. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of 238.30, a price-to-earnings-growth ratio of 12.80 and a beta of 0.89. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 2.74.

BlackLine (NASDAQ:BL) last announced its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.08. The business had revenue of $160.51 million for the quarter, compared to analysts’ expectations of $158.21 million. BlackLine had a net margin of 19.46% and a return on equity of 33.96%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.69) earnings per share. On average, equities research analysts expect that BlackLine, Inc. will post 0.94 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. BTIG Research cut their target price on shares of BlackLine from $71.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Truist Financial lowered their price target on shares of BlackLine from $60.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. Robert W. Baird lowered their price target on shares of BlackLine from $72.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. JPMorgan Chase & Co. lowered their price target 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. Finally, Citigroup lowered their price target on shares of BlackLine from $62.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, June 28th. Two 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’s stock. Based on data from MarketBeat.com, BlackLine has an average rating of “Hold” and a consensus target price of $59.90.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Quadrature Capital Ltd boosted its position in BlackLine by 346.5% in the first quarter. Quadrature Capital Ltd now owns 31,846 shares of the technology company’s stock valued at $2,055,000 after buying an additional 24,713 shares in the last quarter. Cetera Investment Advisers acquired a new position in shares of BlackLine during the first quarter worth $1,572,000. Comerica Bank lifted its holdings in shares of BlackLine by 11.8% during the first quarter. Comerica Bank now owns 124,266 shares of the technology company’s stock worth $8,025,000 after purchasing an additional 13,066 shares during the period. State of Alaska Department of Revenue acquired a new position in shares of BlackLine during the first quarter worth $2,000,000. Finally, Teachers Retirement System of The State of Kentucky acquired a new position in shares of BlackLine during the first quarter worth $907,000. 95.13% of the stock is owned by institutional investors.

BlackLine Company Profile

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.