BlackLine, Inc. (NASDAQ:BL) CRO Sells $1,569,922.56 in Stock

BlackLine, Inc. (NASDAQ:BL - Get Free Report) CRO Mark Woodhams sold 24,408 shares of BlackLine stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $64.32, for a total value of $1,569,922.56. Following the sale, the executive now directly owns 72,920 shares of the company's stock, valued at approximately $4,690,214.40. The trade was a 25.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

BlackLine Stock Up 1.7 %

Shares of NASDAQ:BL traded up $1.08 during midday trading on Monday, hitting $64.94. 492,400 shares of the company's stock were exchanged, compared to its average volume of 859,162. The company has a debt-to-equity ratio of 2.42, a current ratio of 2.69 and a quick ratio of 2.69. BlackLine, Inc. has a 12 month low of $43.37 and a 12 month high of $69.31. The company has a market cap of $4.06 billion, a PE ratio of 66.27, a price-to-earnings-growth ratio of 15.18 and a beta of 0.90. The stock has a 50 day moving average price of $59.48 and a 200-day moving average price of $52.54.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on BlackLine from $47.00 to $50.00 and gave the stock an "underweight" rating in a report on Friday, October 25th. JMP Securities increased their price objective on shares of BlackLine from $81.00 to $86.00 and gave the stock a "market outperform" rating in a research note on Friday, November 22nd. Citigroup boosted their target price on shares of BlackLine from $64.00 to $73.00 and gave the company a "neutral" rating in a research report on Monday. Piper Sandler reaffirmed a "neutral" rating and set a $60.00 price target on shares of BlackLine in a report on Wednesday, November 20th. Finally, Morgan Stanley lifted their price objective on shares of BlackLine from $70.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, BlackLine presently has a consensus rating of "Hold" and an average target price of $66.00.

Hedge Funds Weigh In On BlackLine

A number of hedge funds have recently bought and sold shares of the company. Tidal Investments LLC boosted its position in BlackLine by 1.6% in the third quarter. Tidal Investments LLC now owns 13,539 shares of the technology company's stock worth $747,000 after purchasing an additional 219 shares during the last quarter. Fifth Third Bancorp grew its position in BlackLine by 13.0% during the second 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 during the period. Arizona State Retirement System grew its position in BlackLine by 2.3% during the second 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 during the period. Covestor Ltd increased its holdings in BlackLine by 31.9% during the third quarter. Covestor Ltd now owns 1,392 shares of the technology company's stock worth $77,000 after buying an additional 337 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its position in BlackLine by 2.4% in the second quarter. Louisiana State Employees Retirement System now owns 25,800 shares of the technology company's stock worth $1,250,000 after acquiring an additional 600 shares during the period. 95.13% of the stock is owned by hedge funds and other institutional investors.

About BlackLine

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.