BlackLine, Inc. (NASDAQ:BL) CRO Sells $1,569,922.56 in Stock

BlackLine, Inc. (NASDAQ:BL) CRO Mark Woodhams sold 24,408 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $64.32, for a total transaction of $1,569,922.56. Following the completion of the transaction, the executive now directly owns 72,920 shares of the company’s stock, valued at approximately $4,690,214.40. The trade was a 25.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

BlackLine Stock Down 2.7 %

Shares of NASDAQ BL opened at $62.72 on Thursday. The company’s 50 day moving average price is $59.89 and its 200-day moving average price is $52.78. The company has a debt-to-equity ratio of 2.42, a quick ratio of 2.69 and a current ratio of 2.69. BlackLine, Inc. has a 52-week low of $43.37 and a 52-week high of $69.31. The company has a market capitalization of $3.92 billion, a P/E ratio of 64.00, a price-to-earnings-growth ratio of 15.18 and a beta of 0.90.

Hedge Funds Weigh In On BlackLine

Hedge funds have recently bought and sold shares of the company. Quarry LP acquired a new position in BlackLine in the second quarter valued at approximately $32,000. 1620 Investment Advisors Inc. bought a new stake in shares of BlackLine in the 2nd quarter valued at $64,000. Covestor Ltd lifted its position in shares of BlackLine by 31.9% during the 3rd quarter. Covestor Ltd now owns 1,392 shares of the technology company’s stock valued at $77,000 after acquiring an additional 337 shares during the period. Fifth Third Bancorp boosted its stake in BlackLine by 13.0% during the second quarter. Fifth Third Bancorp now owns 2,306 shares of the technology company’s stock worth $112,000 after acquiring an additional 266 shares in the last quarter. Finally, nVerses Capital LLC bought a new stake in BlackLine in the second quarter valued at $145,000. Institutional investors own 95.13% of the company’s stock.

Analyst Upgrades and Downgrades

BL has been the subject of a number of research reports. JMP Securities increased their price target on BlackLine from $81.00 to $86.00 and gave the company a “market outperform” rating in a research note on Friday, November 22nd. Morgan Stanley increased their target price on BlackLine from $70.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Citigroup boosted their price target on BlackLine from $64.00 to $73.00 and gave the stock a “neutral” rating in a report on Monday. JPMorgan Chase & Co. lifted their target price on shares of BlackLine from $47.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Finally, Piper Sandler restated a “neutral” rating and issued a $60.00 price target on shares of BlackLine in a research report on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $66.00.

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.