BlackLine, Inc. (NASDAQ:BL) Insider Karole Morgan-Prager Sells 10,000 Shares

BlackLine, Inc. (NASDAQ:BL) insider Karole Morgan-Prager sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $55.00, for a total transaction of $550,000.00. Following the transaction, the insider now owns 113,865 shares of the company’s stock, valued at approximately $6,262,575. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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 stock was sold at an average price of $50.00, for a total transaction of $500,000.00.

BlackLine Stock Down 1.8 %

BL stock traded down $1.01 during midday trading on Tuesday, reaching $54.13. The company had a trading volume of 637,132 shares, compared to its average volume of 929,325. The company has a 50 day moving average of $49.67 and a two-hundred day moving average of $52.85. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 2.74. BlackLine, Inc. has a 1 year low of $43.37 and a 1 year high of $69.31. The company has a market capitalization of $3.35 billion, a P/E ratio of 235.35, a PEG ratio of 12.80 and a beta of 0.89.

BlackLine (NASDAQ:BL) last released 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. 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 analysts’ expectations of $158.21 million. During the same quarter last year, the firm earned ($0.69) earnings per share. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, equities research analysts expect that BlackLine, Inc. will post 0.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BlackLine

Several large investors have recently made changes to their positions in the company. Quarry LP bought a new position in BlackLine during the second quarter valued at approximately $32,000. YHB Investment Advisors Inc. acquired a new stake in shares of BlackLine in the 1st quarter valued at $33,000. EntryPoint Capital LLC bought a new stake in BlackLine in the first quarter worth $36,000. 1620 Investment Advisors Inc. acquired a new position in BlackLine during the second quarter worth $64,000. Finally, Covestor Ltd raised its holdings in BlackLine by 29.4% during the first quarter. Covestor Ltd now owns 1,495 shares of the technology company’s stock valued at $97,000 after buying an additional 340 shares in the last quarter. Institutional investors own 95.13% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on BL. JPMorgan Chase & Co. reduced their price objective on BlackLine from $50.00 to $47.00 and set an “underweight” rating for the company in a research note on Wednesday, August 7th. Piper Sandler decreased their price target on BlackLine from $55.00 to $51.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Morgan Stanley upgraded BlackLine from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $60.00 to $70.00 in a report on Monday. JMP Securities reaffirmed a “market outperform” rating and set a $81.00 price objective on shares of BlackLine in a research note on Monday, July 15th. Finally, Truist Financial dropped their target price on shares of BlackLine from $60.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $59.90.

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.