Mark Partin Sells 50,000 Shares of BlackLine, Inc. (NASDAQ:BL) Stock

BlackLine, Inc. (NASDAQ:BLGet Free Report) CFO Mark Partin sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $47.38, for a total transaction of $2,369,000.00. Following the transaction, the chief financial officer now owns 229,341 shares of the company’s stock, valued at $10,866,176.58. The transaction was disclosed in a filing with the SEC, which is available through this link.

BlackLine Stock Performance

Shares of BL stock opened at $46.01 on Friday. The company has a debt-to-equity ratio of 4.08, a current ratio of 2.30 and a quick ratio of 2.30. BlackLine, Inc. has a one year low of $45.63 and a one year high of $69.31. The business’s 50 day simple moving average is $57.26 and its 200 day simple moving average is $59.51. The stock has a market capitalization of $2.84 billion, a PE ratio of 200.04, a PEG ratio of 5.51 and a beta of 0.86.

BlackLine (NASDAQ:BLGet Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.10. BlackLine had a net margin of 2.30% and a return on equity of 9.07%. The company had revenue of $157.46 million during the quarter, compared to analysts’ expectations of $155.05 million. As a group, research analysts forecast that BlackLine, Inc. will post 1.1 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BL. Piper Sandler upgraded shares of BlackLine from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $55.00 to $62.00 in a report on Tuesday, April 23rd. JPMorgan Chase & Co. dropped their target price on BlackLine from $55.00 to $52.00 and set an “underweight” rating for the company in a research report on Wednesday, February 14th. Robert W. Baird lifted their price target on BlackLine from $61.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. Citigroup lowered their price objective on BlackLine from $66.00 to $63.00 and set a “neutral” rating for the company in a research note on Tuesday, April 23rd. Finally, William Blair upgraded shares of BlackLine to a “hold” rating in a report on Tuesday, May 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $64.56.

Read Our Latest Stock Report on BlackLine

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of BlackLine during the 1st quarter worth approximately $907,000. Cetera Investment Advisers acquired a new stake in BlackLine in the first quarter worth $1,572,000. Comerica Bank increased its stake in BlackLine by 11.8% in the first quarter. Comerica Bank now owns 124,266 shares of the technology company’s stock valued at $8,025,000 after purchasing an additional 13,066 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of BlackLine by 7.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 30,216 shares of the technology company’s stock valued at $1,952,000 after purchasing an additional 2,106 shares during the period. Finally, Quadrature Capital Ltd raised its holdings in shares of BlackLine by 346.5% during the first quarter. Quadrature Capital Ltd now owns 31,846 shares of the technology company’s stock valued at $2,055,000 after purchasing an additional 24,713 shares during the period. 95.13% of the stock is owned by institutional investors.

BlackLine Company Profile

(Get Free Report)

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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