BlackLine, Inc. (NASDAQ:BL) Insider Karole Morgan-Prager Sells 10,000 Shares

BlackLine, Inc. (NASDAQ:BL) insider Karole Morgan-Prager sold 10,000 shares of BlackLine stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $55.00, for a total value of $550,000.00. Following the sale, the insider now directly owns 113,865 shares in the company, valued at $6,262,575. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, August 7th, Karole Morgan-Prager sold 10,000 shares of BlackLine stock. The shares were sold at an average price of $50.00, for a total value of $500,000.00.

BlackLine Stock Performance

Shares of NASDAQ:BL traded down $1.01 during trading hours on Tuesday, hitting $54.13. The stock had a trading volume of 637,132 shares, compared to its average volume of 929,325. The stock’s fifty day simple moving average is $49.67 and its 200 day simple moving average is $52.85. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of 235.35, a PEG ratio of 12.80 and a beta of 0.89. The company has a debt-to-equity ratio of 2.74, a quick ratio of 1.95 and a current ratio of 1.95. BlackLine, Inc. has a 1-year low of $43.37 and a 1-year high of $69.31.

BlackLine (NASDAQ:BL) last posted its earnings results on Tuesday, August 6th. The technology company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.50 by $0.08. BlackLine had a return on equity of 33.96% and a net margin of 19.46%. The firm had revenue of $160.51 million for the quarter, compared to analysts’ expectations of $158.21 million. During the same period last year, the firm earned ($0.69) EPS. The firm’s revenue was up 11.0% compared to the same quarter last year. Sell-side analysts anticipate that BlackLine, Inc. will post 0.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on BL shares. BTIG Research cut their target price on BlackLine from $71.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Piper Sandler cut 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. 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. JMP Securities reiterated a “market outperform” rating and issued a $81.00 target price on shares of BlackLine in a research report on Monday, July 15th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of BlackLine from $50.00 to $47.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $59.90.

Institutional Investors Weigh In On BlackLine

Several institutional investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC bought a new stake in shares of BlackLine during the 2nd quarter worth about $220,000. Teachers Retirement System of The State of Kentucky increased its stake in shares of BlackLine by 39.6% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 19,600 shares of the technology company’s stock valued at $949,000 after acquiring an additional 5,563 shares during the period. Cetera Investment Advisers increased its stake in shares of BlackLine by 5.6% during the second quarter. Cetera Investment Advisers now owns 25,701 shares of the technology company’s stock valued at $1,245,000 after acquiring an additional 1,357 shares during the period. Quarry LP acquired a new stake in BlackLine in the second quarter worth approximately $32,000. Finally, Algert Global LLC acquired a new stake in BlackLine in the second quarter worth approximately $255,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

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.