Insider Selling: BlackLine, Inc. (NASDAQ:BL) CRO Sells 9,088 Shares of Stock

BlackLine, Inc. (NASDAQ:BL) CRO Mark Woodhams sold 9,088 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $49.67, for a total value of $451,400.96. Following the transaction, the executive now owns 65,414 shares of the company’s stock, valued at $3,249,113.38. This trade represents a 12.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Mark Woodhams also recently made the following trade(s):

• On Thursday, December 12th, Mark Woodhams sold 24,408 shares of BlackLine stock. The stock was sold at an average price of $64.32, for a total value of $1,569,922.56.

BlackLine Price Performance

Shares of BL opened at $48.99 on Thursday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 2.69 and a current ratio of 2.59. The company has a 50 day moving average price of $59.15 and a 200-day moving average price of $57.02. BlackLine, Inc. has a fifty-two week low of $43.37 and a fifty-two week high of $69.31. The stock has a market capitalization of $3.06 billion, a PE ratio of 33.79, a PEG ratio of 10.80 and a beta of 0.92.

BlackLine (NASDAQ:BL) last issued its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.29). BlackLine had a return on equity of 21.63% and a net margin of 24.67%. Equities analysts predict that BlackLine, Inc. will post 0.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BlackLine

A number of hedge funds have recently made changes to their positions in the stock. SBI Securities Co. Ltd. purchased a new position in BlackLine in the fourth quarter valued at about $31,000. Global Retirement Partners LLC boosted its holdings in shares of BlackLine by 568.4% in the 4th quarter. Global Retirement Partners LLC now owns 528 shares of the technology company’s stock valued at $32,000 after buying an additional 449 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of BlackLine by 243.5% in the 4th quarter. Quadrant Capital Group LLC now owns 584 shares of the technology company’s stock valued at $35,000 after buying an additional 414 shares in the last quarter. GAMMA Investing LLC grew its position in shares of BlackLine by 41.2% in the 4th quarter. GAMMA Investing LLC now owns 634 shares of the technology company’s stock worth $39,000 after buying an additional 185 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of BlackLine during the 4th quarter worth approximately $50,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Piper Sandler cut their price objective on BlackLine from $60.00 to $58.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 12th. BMO Capital Markets cut their price target on shares of BlackLine from $68.00 to $60.00 and set a “market perform” rating on the stock in a report on Wednesday, February 12th. Citigroup decreased their price objective on shares of BlackLine from $73.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Bank of America raised shares of BlackLine from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $50.00 to $75.00 in a research report on Thursday, January 30th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $86.00 target price on shares of BlackLine in a research report on Wednesday, January 15th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $66.40.

BlackLine Company Profile

BlackLine, Inc operates a cloud-based software platform which is designed to transform accounting and finance operations for organizations of all types and sizes. Its scalable platform supports critical accounting processes such as the financial close, account reconciliations, intercompany accounting, and controls assurance.