BlackLine, Inc. (NASDAQ:BL) CRO Sells $451,400.96 in Stock

BlackLine, Inc. (NASDAQ:BL) CRO Mark Woodhams sold 9,088 shares of BlackLine stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $49.67, for a total transaction of $451,400.96. Following the sale, the executive now owns 65,414 shares of the company’s stock, valued at approximately $3,249,113.38. This trade represents a 12.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $64.32, for a total transaction of $1,569,922.56.

BlackLine Stock Up 0.0 %

NASDAQ:BL traded up $0.01 during mid-day trading on Monday, hitting $49.11. The company had a trading volume of 816,751 shares, compared to its average volume of 785,621. The business has a fifty day simple moving average of $59.46 and a 200-day simple moving average of $57.04. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of 33.87, a PEG ratio of 10.50 and a beta of 0.92. BlackLine, Inc. has a 1 year low of $43.37 and a 1 year high of $69.31. The company has a current ratio of 2.59, a quick ratio of 2.69 and a debt-to-equity ratio of 2.00.

BlackLine (NASDAQ:BL) last announced its earnings results on Tuesday, February 11th. The technology company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.29). BlackLine had a net margin of 24.67% and a return on equity of 21.63%. Equities analysts forecast that BlackLine, Inc. will post 0.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on BL shares. Morgan Stanley boosted their price target on BlackLine from $70.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, November 15th. StockNews.com upgraded BlackLine from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Citigroup decreased their price target on BlackLine from $73.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. 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. Finally, Piper Sandler cut their price objective on shares of BlackLine from $60.00 to $58.00 and set an “underweight” rating on the stock in a report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $66.40.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in shares of BlackLine by 13.6% in the third quarter. Principal Financial Group Inc. now owns 290,775 shares of the technology company’s stock worth $16,033,000 after acquiring an additional 34,919 shares in the last quarter. Icon Wealth Advisors LLC raised its position in shares of BlackLine by 307.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 16,452 shares of the technology company’s stock valued at $907,000 after purchasing an additional 12,415 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of BlackLine by 61.9% during the 3rd quarter. Victory Capital Management Inc. now owns 25,677 shares of the technology company’s stock valued at $1,416,000 after buying an additional 9,820 shares during the last quarter. Weiss Asset Management LP acquired a new stake in shares of BlackLine during the third quarter worth approximately $1,506,000. Finally, Eagle Asset Management Inc. grew its position in shares of BlackLine by 74.0% during the third quarter. Eagle Asset Management Inc. now owns 204,328 shares of the technology company’s stock worth $12,335,000 after buying an additional 86,931 shares in the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

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.