BlackLine, Inc. (NASDAQ:BL) Insider Karole Morgan-Prager Sells 27,079 Shares

BlackLine, Inc. (NASDAQ:BL) insider Karole Morgan-Prager sold 27,079 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $60.06, for a total transaction of $1,626,364.74. Following the sale, the insider now directly owns 113,865 shares in the company, valued at $6,838,731.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Karole Morgan-Prager also recently made the following trade(s):

• On Tuesday, October 8th, Karole Morgan-Prager sold 300 shares of BlackLine stock. The stock was sold at an average price of $55.01, for a total transaction of $16,503.00.
• On Wednesday, October 2nd, Karole Morgan-Prager sold 5,773 shares of BlackLine stock. The shares were sold at an average price of $55.14, for a total transaction of $318,323.22.
• On Monday, September 30th, Karole Morgan-Prager sold 10,000 shares of BlackLine stock. The shares were sold at an average price of $55.00, for a total transaction of $550,000.00.
• On Wednesday, August 7th, Karole Morgan-Prager sold 10,000 shares of BlackLine stock. The stock was sold at an average price of $50.00, for a total transaction of $500,000.00.

BlackLine Stock Down 3.1 %

Shares of NASDAQ BL traded down $1.85 during mid-day trading on Monday, reaching $57.08. 406,155 shares of the company’s stock traded hands, compared to its average volume of 905,490. The stock has a market cap of $3.53 billion, a P/E ratio of 256.22, a PEG ratio of 13.57 and a beta of 0.90. The business has a 50-day simple moving average of $52.04 and a 200 day simple moving average of $52.07. BlackLine, Inc. has a 1-year low of $43.37 and a 1-year high of $69.31. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.95 and a quick ratio of 1.95.

BlackLine (NASDAQ:BL) last issued its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.08. BlackLine had a net margin of 19.46% and a return on equity of 33.96%. The firm had revenue of $160.51 million during the quarter, compared to analysts’ expectations of $158.21 million. During the same period last year, the company earned ($0.69) earnings per share. The business’s revenue was up 11.0% on a year-over-year basis. On average, analysts expect that BlackLine, Inc. will post 0.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BL. Morgan Stanley upgraded shares of BlackLine from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $60.00 to $70.00 in a research note on Monday, September 30th. JMP Securities reaffirmed a “market outperform” rating and issued a $81.00 target price on shares of BlackLine in a report on Monday, July 15th. BTIG Research lowered their price target on shares of BlackLine from $71.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Piper Sandler lowered their price target on shares of BlackLine from $55.00 to $51.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. decreased their target price on shares of BlackLine from $50.00 to $47.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $59.90.

Institutional Trading of BlackLine

Several hedge funds have recently added to or reduced their stakes in BL. Vanguard Group Inc. raised its position in shares of BlackLine by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 6,738,189 shares of the technology company’s stock valued at $420,733,000 after purchasing an additional 79,649 shares during the period. Quadrature Capital Ltd increased its holdings in BlackLine by 42.9% during the 4th quarter. Quadrature Capital Ltd now owns 7,133 shares of the technology company’s stock worth $445,000 after acquiring an additional 2,140 shares during the period. Overbrook Management Corp bought a new stake in BlackLine during the 1st quarter worth approximately $275,000. State of Alaska Department of Revenue bought a new stake in BlackLine during the 1st quarter worth approximately $2,000,000. Finally, Norden Group LLC increased its holdings in shares of BlackLine by 2,200.0% in the 1st quarter. Norden Group LLC now owns 116,909 shares of the technology company’s stock worth $7,550,000 after buying an additional 111,826 shares during the last quarter. Institutional investors own 95.13% of the company’s stock.

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.