BlackLine, Inc. (NASDAQ:BL) Short Interest Update

BlackLine, Inc. (NASDAQ:BL) saw a large increase in short interest in March. As of March 31st, there was short interest totalling 4,220,000 shares, an increase of 9.9% from the March 15th total of 3,840,000 shares. Based on an average daily volume of 953,600 shares, the short-interest ratio is presently 4.4 days. Currently, 10.0% of the company’s stock are short sold.

Insider Transactions at BlackLine

In related news, Director Thomas Unterman sold 750 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $60.00, for a total transaction of $45,000.00. Following the transaction, the director now directly owns 51,470 shares of the company’s stock, valued at approximately $3,088,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other BlackLine news, Director Thomas Unterman sold 750 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $60.00, for a total value of $45,000.00. Following the transaction, the director now directly owns 51,470 shares of the company’s stock, valued at approximately $3,088,200. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kevin B. Thompson sold 4,500 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $57.50, for a total value of $258,750.00. Following the completion of the transaction, the director now directly owns 11,000 shares in the company, valued at $632,500. The disclosure for this sale can be found here. Company insiders own 9.53% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. lifted its holdings in BlackLine by 14.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,251 shares of the technology company’s stock worth $384,000 after acquiring an additional 673 shares during the period. HighTower Advisors LLC lifted its holdings in BlackLine by 10.0% during the first quarter. HighTower Advisors LLC now owns 12,764 shares of the technology company’s stock worth $935,000 after acquiring an additional 1,163 shares during the period. MetLife Investment Management LLC lifted its holdings in BlackLine by 54.9% during the first quarter. MetLife Investment Management LLC now owns 28,627 shares of the technology company’s stock worth $2,096,000 after acquiring an additional 10,141 shares during the period. Rhumbline Advisers lifted its holdings in BlackLine by 1.5% during the first quarter. Rhumbline Advisers now owns 57,983 shares of the technology company’s stock worth $4,246,000 after acquiring an additional 853 shares during the period. Finally, Raymond James Trust N.A. lifted its holdings in BlackLine by 8.9% during the first quarter. Raymond James Trust N.A. now owns 8,478 shares of the technology company’s stock worth $621,000 after acquiring an additional 691 shares during the period. Institutional investors own 95.13% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on BL shares. Wolfe Research started coverage on BlackLine in a report on Monday, March 18th. They set a “peer perform” rating on the stock. The Goldman Sachs Group upped their price objective on BlackLine from $49.00 to $54.00 and gave the stock a “sell” rating in a research report on Tuesday, January 23rd. JMP Securities restated a “market outperform” rating and set a $81.00 price objective on shares of BlackLine in a research report on Wednesday, February 14th. William Blair downgraded BlackLine from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 14th. Finally, Piper Sandler dropped their price objective on BlackLine from $60.00 to $55.00 and set an “underweight” rating for the company in a research report on Wednesday, February 14th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $61.80.

BlackLine Stock Down 0.2 %

BlackLine stock traded down $0.14 during mid-day trading on Tuesday, reaching $60.70. The stock had a trading volume of 228,330 shares, compared to its average volume of 918,353. The company has a debt-to-equity ratio of 4.37, a quick ratio of 2.19 and a current ratio of 2.19. BlackLine has a fifty-two week low of $47.26 and a fifty-two week high of $69.31. The stock’s 50-day simple moving average is $62.23 and its 200-day simple moving average is $59.05. The firm has a market capitalization of $3.75 billion, a PE ratio of -608.30, a price-to-earnings-growth ratio of 11.29 and a beta of 0.86.

BlackLine (NASDAQ:BL) last announced its quarterly earnings data on Tuesday, February 13th. The technology company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.28. BlackLine had a positive return on equity of 2.15% and a negative net margin of 1.50%. The firm had revenue of $155.73 million during the quarter, compared to analysts’ expectations of $154.24 million. On average, sell-side analysts forecast that BlackLine will post 1.02 EPS for the current fiscal year.

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.