Mark Partin Sells 10,000 Shares of BlackLine, Inc. (NASDAQ:BL) Stock

BlackLine, Inc. (NASDAQ:BL – Get Rating) CFO Mark Partin sold 10,000 shares of the stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $69.16, for a total transaction of $691,600.00. Following the transaction, the chief financial officer now owns 164,539 shares of the company’s stock, valued at $11,379,517.24. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Tuesday, February 21st, Mark Partin sold 15,000 shares of BlackLine stock. The shares were sold at an average price of $70.86, for a total transaction of $1,062,900.00.

BlackLine Trading Up 0.5 %

Shares of BL stock opened at $69.55 on Friday. BlackLine, Inc. has a 12-month low of $48.73 and a 12-month high of $79.23. The firm has a 50 day moving average price of $70.27 and a two-hundred day moving average price of $65.96. The company has a market capitalization of $4.18 billion, a PE ratio of -136.37 and a beta of 0.91. The company has a quick ratio of 3.40, a current ratio of 3.40 and a debt-to-equity ratio of 12.38.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group cut their target price on shares of BlackLine from $57.00 to $50.00 and set a “sell” rating for the company in a research note on Friday, November 4th. Truist Financial raised their target price on shares of BlackLine from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, February 15th. Robert W. Baird raised their target price on shares of BlackLine from $72.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, February 15th. StockNews.com upgraded shares of BlackLine from a “sell” rating to a “hold” rating in a research note on Wednesday, January 18th. Finally, BMO Capital Markets cut their target price on shares of BlackLine from $76.00 to $71.00 and set a “market perform” rating for the company in a research note on Wednesday, February 15th. Three analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $70.67.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Clearlake Capital Group L.P. increased its holdings in shares of BlackLine by 5.5% during the third quarter. Clearlake Capital Group L.P. now owns 5,712,300 shares of the technology company’s stock worth $342,167,000 after purchasing an additional 296,138 shares during the period. Vanguard Group Inc. increased its holdings in shares of BlackLine by 1.2% during the third quarter. Vanguard Group Inc. now owns 5,222,019 shares of the technology company’s stock worth $312,798,000 after purchasing an additional 62,961 shares during the period. Riverbridge Partners LLC increased its holdings in shares of BlackLine by 8.4% during the third quarter. Riverbridge Partners LLC now owns 2,149,250 shares of the technology company’s stock worth $128,740,000 after purchasing an additional 166,594 shares during the period. Brown Advisory Inc. increased its stake in BlackLine by 0.4% in the third quarter. Brown Advisory Inc. now owns 1,528,181 shares of the technology company’s stock valued at $91,538,000 after acquiring an additional 6,727 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its stake in BlackLine by 40.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,296,306 shares of the technology company’s stock valued at $87,203,000 after acquiring an additional 374,813 shares during the last quarter. 99.96% of the stock is owned by institutional investors.

BlackLine Company Profile

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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.