Insider Selling: BlackLine, Inc. (NASDAQ:BL) Insider Sells 5,773 Shares of Stock

BlackLine, Inc. (NASDAQ:BL) insider Karole Morgan-Prager sold 5,773 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $55.14, for a total value of $318,323.22. Following the transaction, the insider now directly owns 113,865 shares of the company’s stock, valued at $6,278,516.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, September 30th, Karole Morgan-Prager sold 10,000 shares of BlackLine stock. The stock was sold at an average price of $55.00, for a total transaction of $550,000.00.
• 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 Up 1.2 %

NASDAQ:BL traded up $0.62 on Friday, hitting $54.51. 479,426 shares of the company’s stock traded hands, compared to its average volume of 922,452. The company has a market cap of $3.37 billion, a PE ratio of 234.30, a price-to-earnings-growth ratio of 12.80 and a beta of 0.89. BlackLine, Inc. has a 1 year low of $43.37 and a 1 year high of $69.31. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 2.74. The firm has a 50-day moving average price of $50.08 and a 200-day moving average price of $52.79.

BlackLine (NASDAQ:BL) last released its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.08. The firm had revenue of $160.51 million for the quarter, compared to analyst estimates of $158.21 million. BlackLine had a net margin of 19.46% and a return on equity of 33.96%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.69) EPS. Equities analysts anticipate that BlackLine, Inc. will post 0.94 EPS for the current fiscal year.

Analyst Ratings Changes

BL has been the subject of a number of research reports. Morgan Stanley upgraded shares of BlackLine from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $60.00 to $70.00 in a report on Monday. Citigroup reduced their price objective on BlackLine from $62.00 to $54.00 and set a “neutral” rating for the company in a research note on Friday, June 28th. Truist Financial cut their target price on BlackLine from $60.00 to $45.00 and set a “hold” rating on the stock in a research report 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. Finally, BTIG Research dropped their price target on BlackLine from $71.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $59.90.

Institutional Trading of BlackLine

A number of institutional investors have recently bought and sold shares of the company. YHB Investment Advisors Inc. acquired a new position in BlackLine in the 1st quarter worth about $33,000. EntryPoint Capital LLC acquired a new position in BlackLine in the first quarter worth approximately $36,000. Quarry LP acquired a new position in BlackLine in the second quarter worth approximately $32,000. 1620 Investment Advisors Inc. bought a new position in BlackLine during the second quarter valued at approximately $64,000. Finally, Covestor Ltd lifted its stake in BlackLine by 29.4% in the first quarter. Covestor Ltd now owns 1,495 shares of the technology company’s stock valued at $97,000 after acquiring an additional 340 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

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.