Insider Buying: BlackLine, Inc. (NASDAQ:BL) CEO Acquires 3,000 Shares of Stock

BlackLine, Inc. (NASDAQ:BLGet Free Report) CEO Owen Ryan purchased 3,000 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was bought at an average price of $49.88 per share, with a total value of $149,640.00. Following the completion of the transaction, the chief executive officer now owns 145,948 shares of the company’s stock, valued at $7,279,886.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

BlackLine Price Performance

BL opened at $47.74 on Friday. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 4.08. The business’s fifty day simple moving average is $59.54 and its 200-day simple moving average is $59.95. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of 207.57, a PEG ratio of 5.62 and a beta of 0.87. BlackLine, Inc. has a 12-month low of $47.26 and a 12-month high of $69.31.

BlackLine (NASDAQ:BLGet Free Report) last posted its earnings results on Tuesday, May 7th. The technology company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.10. BlackLine had a net margin of 2.30% and a return on equity of 9.07%. The business had revenue of $157.46 million for the quarter, compared to the consensus estimate of $155.05 million. On average, equities research analysts anticipate that BlackLine, Inc. will post 1.1 earnings per share for the current fiscal year.

Institutional Trading of BlackLine

A number of hedge funds have recently bought and sold shares of the stock. Meritage Group LP purchased a new position in shares of BlackLine in the 3rd quarter valued at $59,530,000. Vanguard Group Inc. grew its stake in BlackLine by 9.5% in the first quarter. Vanguard Group Inc. now owns 7,380,961 shares of the technology company’s stock valued at $476,662,000 after purchasing an additional 642,772 shares during the last quarter. UBS Group AG raised its holdings in BlackLine by 855.5% in the third quarter. UBS Group AG now owns 657,004 shares of the technology company’s stock worth $36,444,000 after purchasing an additional 588,245 shares in the last quarter. Hawk Ridge Capital Management LP purchased a new stake in shares of BlackLine during the third quarter valued at about $21,853,000. Finally, Norges Bank bought a new stake in shares of BlackLine in the 4th quarter valued at about $16,927,000. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on BL shares. William Blair upgraded shares of BlackLine to a “hold” rating in a report on Tuesday, May 7th. Piper Sandler raised shares of BlackLine from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $55.00 to $62.00 in a research note on Tuesday, April 23rd. Robert W. Baird boosted their target price on BlackLine from $61.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, May 8th. JPMorgan Chase & Co. reduced their price target on BlackLine from $55.00 to $52.00 and set an “underweight” rating on the stock in a report on Wednesday, February 14th. Finally, Wolfe Research assumed coverage on BlackLine in a research note on Monday, March 18th. They set a “peer perform” rating for the company. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $64.56.

Check Out Our Latest Research Report on BL

BlackLine Company Profile

(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.

Further Reading

Insider Buying and Selling by Quarter for BlackLine (NASDAQ:BL)

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