BlackLine, Inc. (NASDAQ:BL – Get Free Report) CFO Mark Partin sold 5,648 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $53.00, for a total transaction of $299,344.00. Following the transaction, the chief financial officer now directly owns 226,844 shares in the company, valued at $12,022,732. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Mark Partin also recently made the following trade(s):
- On Monday, September 30th, Mark Partin sold 85,308 shares of BlackLine stock. The shares were sold at an average price of $54.84, for a total transaction of $4,678,290.72.
BlackLine Stock Performance
Shares of BL stock opened at $54.60 on Thursday. BlackLine, Inc. has a one year low of $43.37 and a one year high of $69.31. The company has a market cap of $3.38 billion, a P/E ratio of 237.39, a P/E/G ratio of 12.80 and a beta of 0.89. The firm has a 50-day moving average of $49.79 and a 200-day moving average of $52.77. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.95 and a quick ratio of 1.95.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. Quarry LP bought a new position in shares of BlackLine during the 2nd quarter valued at approximately $32,000. YHB Investment Advisors Inc. purchased a new position in BlackLine in the first quarter valued at approximately $33,000. EntryPoint Capital LLC bought a new position in BlackLine during the first quarter valued at $36,000. 1620 Investment Advisors Inc. purchased a new stake in BlackLine in the second quarter worth $64,000. Finally, Covestor Ltd raised its stake in shares of BlackLine by 29.4% in the first quarter. Covestor Ltd now owns 1,495 shares of the technology company’s stock valued at $97,000 after buying an additional 340 shares during the period. Institutional investors own 95.13% of the company’s stock.
Wall Street Analysts Forecast Growth
BL has been the subject of several research reports. BTIG Research reduced their target price on BlackLine from $71.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Piper Sandler decreased their price objective on BlackLine from $55.00 to $51.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Morgan Stanley raised BlackLine from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $60.00 to $70.00 in a research report on Monday. JPMorgan Chase & Co. reduced their price target on shares of BlackLine from $50.00 to $47.00 and set an “underweight” rating for the company in a research report on Wednesday, August 7th. Finally, Citigroup lowered their price objective on shares of BlackLine from $62.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, June 28th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $59.90.
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.
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