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

BlackLine, Inc. (NASDAQ:BL - Get Free Report) CRO Mark Woodhams sold 9,088 shares of the company'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 transaction of $451,400.96. Following the transaction, the executive now directly owns 65,414 shares in the company, valued at $3,249,113.38. The trade was a 12.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

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

BlackLine Stock Up 0.1 %

BlackLine stock traded up $0.03 during trading on Friday, reaching $48.30. 734,709 shares of the company's stock were exchanged, compared to its average volume of 794,329. The company's 50-day moving average is $58.59 and its two-hundred day moving average is $56.91. The company has a debt-to-equity ratio of 2.00, a quick ratio of 2.69 and a current ratio of 2.59. BlackLine, Inc. has a 52-week low of $43.37 and a 52-week high of $69.31. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of 33.31, a PEG ratio of 10.80 and a beta of 0.92.

BlackLine (NASDAQ:BL - Get Free Report) last issued its earnings results on Tuesday, February 11th. The technology company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.29). BlackLine had a return on equity of 21.63% and a net margin of 24.67%. On average, analysts predict that BlackLine, Inc. will post 0.9 earnings per share for the current year.

Remove Ads

Institutional Trading of BlackLine

A number of hedge funds have recently made changes to their positions in BL. Topline Capital Management LLC acquired a new stake in BlackLine during the 4th quarter valued at $60,572,000. American Century Companies Inc. boosted its position in BlackLine by 12,538.0% in the 4th quarter. American Century Companies Inc. now owns 896,665 shares of the technology company's stock valued at $54,481,000 after buying an additional 889,570 shares during the last quarter. Engaged Capital LLC purchased a new position in BlackLine in the 3rd quarter valued at about $33,620,000. Westwood Holdings Group Inc. acquired a new stake in shares of BlackLine during the fourth quarter valued at about $34,928,000. Finally, JPMorgan Chase & Co. increased its position in shares of BlackLine by 35.3% during the third quarter. JPMorgan Chase & Co. now owns 1,666,591 shares of the technology company's stock worth $91,896,000 after acquiring an additional 435,271 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company's stock.

Wall Street Analysts Forecast Growth

BL has been the subject of several recent analyst reports. Bank of America upgraded BlackLine from an "underperform" rating to a "buy" rating and lifted their price target for the company from $50.00 to $75.00 in a report on Thursday, January 30th. Piper Sandler lowered their target price on shares of BlackLine from $60.00 to $58.00 and set an "underweight" rating for the company in a report on Wednesday, February 12th. StockNews.com lowered shares of BlackLine from a "buy" rating to a "hold" rating in a research report on Wednesday. Truist Financial decreased their price target on shares of BlackLine from $60.00 to $55.00 and set a "hold" rating on the stock in a report on Wednesday, February 12th. Finally, BMO Capital Markets dropped their price objective on BlackLine from $68.00 to $60.00 and set a "market perform" rating for the company in a report on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, BlackLine presently has an average rating of "Hold" and an average price target 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.