Blackline Inc (NASDAQ:BL) CFO Mark Partin sold 10,000 shares of Blackline stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $80.90, for a total value of $809,000.00. Following the completion of the sale, the chief financial officer now owns 109,588 shares in the company, valued at approximately $8,865,669.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Mark Partin also recently made the following trade(s):
- On Tuesday, May 12th, Mark Partin sold 400 shares of Blackline stock. The stock was sold at an average price of $65.18, for a total value of $26,072.00.
- On Tuesday, May 5th, Mark Partin sold 5,000 shares of Blackline stock. The stock was sold at an average price of $61.02, for a total value of $305,100.00.
NASDAQ BL opened at $80.92 on Thursday. The company has a market cap of $4.63 billion, a P/E ratio of -124.49 and a beta of 0.93. The company has a debt-to-equity ratio of 1.01, a current ratio of 3.61 and a quick ratio of 3.61. The stock has a 50-day moving average of $71.26 and a two-hundred day moving average of $60.43. Blackline Inc has a 1-year low of $38.32 and a 1-year high of $83.50.
Blackline (NASDAQ:BL) last released its earnings results on Thursday, April 30th. The technology company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.05. The company had revenue of $82.60 million during the quarter, compared to the consensus estimate of $79.54 million. Blackline had a negative return on equity of 2.61% and a negative net margin of 11.87%. Blackline’s revenue was up 28.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.02 EPS. On average, analysts anticipate that Blackline Inc will post -0.28 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Blair William & Co. IL grew its position in Blackline by 0.8% in the 1st quarter. Blair William & Co. IL now owns 298,134 shares of the technology company’s stock valued at $15,685,000 after acquiring an additional 2,325 shares in the last quarter. Asset Management One Co. Ltd. acquired a new position in shares of Blackline during the first quarter worth about $35,000. JPMorgan Chase & Co. grew its position in shares of Blackline by 2,500.4% during the first quarter. JPMorgan Chase & Co. now owns 460,536 shares of the technology company’s stock worth $24,229,000 after buying an additional 442,826 shares in the last quarter. Citigroup Inc. grew its position in shares of Blackline by 142.1% during the fourth quarter. Citigroup Inc. now owns 30,958 shares of the technology company’s stock worth $1,596,000 after buying an additional 18,170 shares in the last quarter. Finally, Gradient Investments LLC grew its position in shares of Blackline by 9.2% during the first quarter. Gradient Investments LLC now owns 27,434 shares of the technology company’s stock worth $1,443,000 after buying an additional 2,312 shares in the last quarter. 91.56% of the stock is owned by institutional investors.
Several analysts recently issued reports on the stock. BidaskClub upgraded shares of Blackline from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 20th. Piper Sandler boosted their price objective on shares of Blackline from $69.00 to $78.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. Oppenheimer boosted their price objective on shares of Blackline from $63.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Robert W. Baird boosted their price objective on shares of Blackline from $70.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, June 18th. Finally, ValuEngine lowered shares of Blackline from a “buy” rating to a “hold” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $65.89.
BlackLine, Inc provides financial accounting close solutions delivered primarily as Software as a Service in the United States and internationally. Its solutions enable its customers to address various aspects of their financial closing process, including account reconciliations, variance analysis of account balances, journal entry capabilities, and range of data matching capabilities.
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