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

BlackLine, Inc. (NASDAQ:BL - Get Free Report) insider Karole Morgan-Prager sold 5,773 shares of the company's stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $55.14, for a total value of $318,323.22. Following the completion of the transaction, the insider now owns 113,865 shares of the company's stock, valued at approximately $6,278,516.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 shares were 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 Performance

NASDAQ:BL traded up $0.62 during midday trading on Friday, reaching $54.51. 479,426 shares of the company traded hands, compared to its average volume of 922,452. BlackLine, Inc. has a twelve month low of $43.37 and a twelve month high of $69.31. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.95 and a quick ratio of 1.95. The company has a fifty day moving average price of $50.08 and a 200 day moving average price of $52.79. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of 234.30, a price-to-earnings-growth ratio of 12.80 and a beta of 0.89.

BlackLine (NASDAQ:BL - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.50 by $0.08. The business had revenue of $160.51 million during 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 quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.69) earnings per share. On average, analysts expect that BlackLine, Inc. will post 0.94 EPS 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 business. Fifth Third Bancorp lifted its holdings in BlackLine by 13.0% in the second quarter. Fifth Third Bancorp now owns 2,306 shares of the technology company's stock worth $112,000 after purchasing an additional 266 shares during the period. Arizona State Retirement System raised its position in shares of BlackLine by 2.3% during the 2nd quarter. Arizona State Retirement System now owns 14,638 shares of the technology company's stock worth $709,000 after buying an additional 325 shares in the last quarter. Covestor Ltd lifted its stake in shares of BlackLine by 29.4% in the 1st quarter. Covestor Ltd now owns 1,495 shares of the technology company's stock worth $97,000 after acquiring an additional 340 shares during the period. Whittier Trust Co. boosted its holdings in shares of BlackLine by 9.7% in the first quarter. Whittier Trust Co. now owns 4,699 shares of the technology company's stock valued at $303,000 after acquiring an additional 414 shares in the last quarter. Finally, YHB Investment Advisors Inc. acquired a new position in shares of BlackLine during the first quarter valued at approximately $33,000. Institutional investors own 95.13% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their target price on BlackLine from $50.00 to $47.00 and set an "underweight" rating for the company in a research note on Wednesday, August 7th. Piper Sandler dropped their price objective on BlackLine from $55.00 to $51.00 and set a "neutral" rating on the stock in a report on Wednesday, August 7th. Morgan Stanley upgraded BlackLine from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $60.00 to $70.00 in a research note on Monday. Citigroup dropped their price target on shares of BlackLine from $62.00 to $54.00 and set a "neutral" rating for the company in a research note on Friday, June 28th. Finally, BTIG Research reduced their price objective on shares of BlackLine from $71.00 to $65.00 and set a "buy" rating on the stock in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $59.90.

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.

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