BlackLine, Inc. (NASDAQ:BL – Get Free Report) CFO Mark Partin sold 85,308 shares of BlackLine stock in a transaction on Monday, September 30th. The shares were sold at an average price of $54.84, for a total value of $4,678,290.72. Following the completion of the transaction, the chief financial officer now owns 226,844 shares of the company’s stock, valued at approximately $12,440,124.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Mark Partin also recently made the following trade(s):
- On Friday, September 27th, Mark Partin sold 5,648 shares of BlackLine stock. The shares were sold at an average price of $53.00, for a total value of $299,344.00.
BlackLine Trading Down 1.8 %
BL traded down $1.01 during mid-day trading 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 price-to-earnings-growth ratio of 12.80 and a beta of 0.89. 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.
Hedge Funds Weigh In On BlackLine
Institutional investors have recently modified their holdings of the business. Fifth Third Bancorp increased its holdings in BlackLine by 13.0% during the 2nd quarter. Fifth Third Bancorp now owns 2,306 shares of the technology company’s stock worth $112,000 after purchasing an additional 266 shares in the last quarter. Arizona State Retirement System raised its position in BlackLine by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 14,638 shares of the technology company’s stock valued at $709,000 after buying an additional 325 shares during the last quarter. Covestor Ltd lifted its stake in BlackLine by 29.4% in the 1st quarter. Covestor Ltd now owns 1,495 shares of the technology company’s stock valued at $97,000 after acquiring an additional 340 shares in the last quarter. Whittier Trust Co. boosted its position in BlackLine by 9.7% during the 1st quarter. Whittier Trust Co. now owns 4,699 shares of the technology company’s stock worth $303,000 after acquiring an additional 414 shares during the last quarter. Finally, YHB Investment Advisors Inc. bought a new position in shares of BlackLine during the 1st quarter worth approximately $33,000. Institutional investors own 95.13% of the company’s stock.
Wall Street Analyst Weigh In
BL has been the subject of several research reports. Piper Sandler lowered their price objective on shares of BlackLine from $55.00 to $51.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Robert W. Baird dropped their price objective on shares of BlackLine from $72.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. JPMorgan Chase & Co. decreased their price objective on BlackLine from $50.00 to $47.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 7th. Citigroup dropped their target price on BlackLine from $62.00 to $54.00 and set a “neutral” rating for the company in a research report on Friday, June 28th. Finally, BTIG Research cut their price target on BlackLine from $71.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, BlackLine has a consensus rating of “Hold” and an average target price of $59.90.
View Our Latest Stock Analysis on BlackLine
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.
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