BlackLine, Inc. (NASDAQ:BL) CRO Sells $166,866.00 in Stock

BlackLine, Inc. (NASDAQ:BL) CRO Mark Woodhams sold 2,877 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $58.00, for a total value of $166,866.00. Following the transaction, the executive now owns 104,682 shares of the company’s stock, valued at approximately $6,071,556. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

BlackLine Stock Up 2.0 %

NASDAQ:BL opened at $60.91 on Friday. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of -609.10, a PEG ratio of 10.61 and a beta of 0.87. BlackLine, Inc. has a 1-year low of $47.26 and a 1-year high of $69.31. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 4.37. The business’s fifty day moving average price is $62.35 and its 200 day moving average price is $59.50.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. CWM LLC grew its stake in BlackLine by 94.8% in the fourth quarter. CWM LLC now owns 452 shares of the technology company’s stock valued at $28,000 after purchasing an additional 220 shares in the last quarter. Arizona State Retirement System grew its stake in BlackLine by 1.6% in the third quarter. Arizona State Retirement System now owns 14,639 shares of the technology company’s stock valued at $812,000 after purchasing an additional 227 shares in the last quarter. NBC Securities Inc. grew its stake in BlackLine by 2.5% in the fourth quarter. NBC Securities Inc. now owns 11,854 shares of the technology company’s stock valued at $740,000 after purchasing an additional 285 shares in the last quarter. Portside Wealth Group LLC grew its stake in BlackLine by 4.6% in the fourth quarter. Portside Wealth Group LLC now owns 8,091 shares of the technology company’s stock valued at $505,000 after purchasing an additional 359 shares in the last quarter. Finally, Whittier Trust Co. grew its stake in BlackLine by 9.7% in the first quarter. Whittier Trust Co. now owns 4,699 shares of the technology company’s stock valued at $303,000 after purchasing an additional 414 shares in the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Wolfe Research assumed coverage on BlackLine in a research report on Monday, March 18th. They set a “peer perform” rating for the company. William Blair downgraded BlackLine from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 14th. JMP Securities reissued a “market outperform” rating and issued a $81.00 price objective on shares of BlackLine in a research note on Wednesday, February 14th. Robert W. Baird dropped their price objective on BlackLine from $65.00 to $61.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 14th. Finally, The Goldman Sachs Group boosted their target price on BlackLine from $49.00 to $54.00 and gave the stock a “sell” rating in a research report on Tuesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $62.20.

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.