BlackLine, Inc. (NASDAQ:BL) CFO Sells $299,344.00 in Stock

BlackLine, Inc. (NASDAQ:BL) 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.

BlackLine (NASDAQ:BL) last posted its 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 firm had revenue of $160.51 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.69) EPS. Equities research analysts forecast that BlackLine, Inc. will post 0.94 EPS for the current fiscal year.

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.