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 business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $60.06, for a total value of $1,626,364.74. Following the completion of the transaction, the insider now owns 113,865 shares in the company, valued at $6,838,731.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 shares were 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 shares were 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 shares were 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 shares were sold at an average price of $50.00, for a total value of $500,000.00.

BlackLine Stock Performance

BL opened at $57.57 on Wednesday. The stock 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 debt-to-equity ratio of 2.74, a current ratio of 1.95 and a quick ratio of 1.95. The stock’s 50 day simple moving average is $52.26 and its 200 day simple moving average is $52.00. BlackLine, Inc. has a 1-year low of $43.37 and a 1-year high of $69.31.

BlackLine (NASDAQ:BL) 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 for the quarter, compared to analysts’ expectations of $158.21 million. BlackLine had a return on equity of 33.96% and a net margin of 19.46%. The company’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.69) EPS. As a group, equities analysts anticipate that BlackLine, Inc. will post 0.96 EPS for the current fiscal year.

Institutional Investors Weigh In On BlackLine

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp lifted its stake in BlackLine by 13.0% in the 2nd quarter. Fifth Third Bancorp now owns 2,306 shares of the technology company’s stock valued at $112,000 after buying an additional 266 shares in the last quarter. Arizona State Retirement System lifted its stake in BlackLine by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 14,638 shares of the technology company’s stock valued at $709,000 after buying an additional 325 shares in the last quarter. Covestor Ltd lifted its stake in 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 in the last quarter. Whittier Trust Co. lifted its stake in BlackLine by 9.7% in 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 in the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in BlackLine in the 1st quarter valued at approximately $36,000. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Analyst Ratings Changes

BL has been the topic of several recent research reports. Citigroup dropped their price target on BlackLine from $62.00 to $54.00 and set a “neutral” rating on the stock in a research report on Friday, June 28th. JPMorgan Chase & Co. dropped their target price on BlackLine from $50.00 to $47.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 7th. Piper Sandler dropped their target price on BlackLine from $55.00 to $51.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. JMP Securities reiterated a “market outperform” rating and set a $81.00 target price on shares of BlackLine in a research report on Monday, July 15th. Finally, Robert W. Baird dropped 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. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average 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.