BlackLine, Inc. (NASDAQ:BL - Get Free Report) insider Karole Morgan-Prager sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $50.00, for a total transaction of $500,000.00. Following the completion of the transaction, the insider now owns 115,424 shares in the company, valued at $5,771,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
BlackLine Price Performance
Shares of BL opened at $51.18 on Friday. The company has a debt-to-equity ratio of 4.08, a quick ratio of 2.30 and a current ratio of 2.30. The firm has a market capitalization of $3.16 billion, a PE ratio of 222.52, a P/E/G ratio of 5.32 and a beta of 0.86. The stock has a 50 day simple moving average of $47.03 and a 200 day simple moving average of $55.58. BlackLine, Inc. has a 52-week low of $43.37 and a 52-week high of $69.31.
BlackLine (NASDAQ:BL - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.08. BlackLine had a net margin of 2.30% and a return on equity of 9.07%. The company had revenue of $160.51 million during the quarter, compared to analysts' expectations of $158.21 million. During the same quarter in the prior year, the company earned ($0.69) earnings per share. The business's quarterly revenue was up 11.0% compared to the same quarter last year. Sell-side analysts predict that BlackLine, Inc. will post 1.1 EPS for the current fiscal year.
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A number of large investors have recently added to or reduced their stakes in the company. Wrapmanager Inc. lifted its holdings in shares of BlackLine by 17.2% in the second quarter. Wrapmanager Inc. now owns 4,899 shares of the technology company's stock valued at $237,000 after purchasing an additional 719 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of BlackLine by 10,005.6% during the second quarter. Federated Hermes Inc. now owns 67,000 shares of the technology company's stock worth $3,246,000 after buying an additional 66,337 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of BlackLine by 17.0% during the second quarter. American Century Companies Inc. now owns 17,351 shares of the technology company's stock worth $841,000 after buying an additional 2,520 shares in the last quarter. Pier Capital LLC raised its position in BlackLine by 9.0% in the 2nd quarter. Pier Capital LLC now owns 149,817 shares of the technology company's stock valued at $7,259,000 after buying an additional 12,396 shares during the last quarter. Finally, ClariVest Asset Management LLC boosted its position in BlackLine by 318.2% during the 2nd quarter. ClariVest Asset Management LLC now owns 23,552 shares of the technology company's stock worth $1,141,000 after acquiring an additional 17,920 shares during the last quarter. Institutional investors own 95.13% of the company's stock.
Wall Street Analyst Weigh In
BL has been the topic of a number of analyst reports. Truist Financial cut their price target on BlackLine from $60.00 to $45.00 and set a "hold" rating on the stock in a research note on Wednesday. BTIG Research decreased their target price on BlackLine from $71.00 to $65.00 and set a "buy" rating for the company in a research report on Wednesday. Piper Sandler lowered their price target on BlackLine from $55.00 to $51.00 and set a "neutral" rating for the company in a research note on Wednesday. William Blair raised shares of BlackLine to a "hold" rating in a research note on Tuesday, May 7th. Finally, Citigroup decreased their price objective on shares of BlackLine from $62.00 to $54.00 and set a "neutral" rating for the company in a report on Friday, June 28th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, BlackLine presently has a consensus rating of "Hold" and a consensus price target of $58.78.
Check Out Our Latest Report on BL
BlackLine Company Profile
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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