Insider Selling: BlackLine, Inc. (NASDAQ:BL) Director Sells 500 Shares
BlackLine, Inc. (NASDAQ:BL – Get a rating) Director Thomas Unterman sold 500 shares of the company in a trade on Wednesday, June 1. The shares were sold at an average price of $73.70, for a total value of $36,850.00. Following the sale, the director now owns 49,668 shares of the company, valued at approximately $3,660,531.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink.
Thomas Unterman also recently made the following trade(s):
- On Monday, May 2, Thomas Unterman sold 500 BlackLine shares. The shares were sold at an average price of $66.82, for a total value of $33,410.00.
- On Friday, April 1, Thomas Unterman sold 500 BlackLine shares. The stock was sold at an average price of $73.35, for a total value of $36,675.00.
BL traded at $0.49 on Wednesday, reaching $72.73. 663,053 shares were traded, against an average volume of 697,326. The company’s 50-day moving average price is $68.02 and its 200-day moving average price is $83.36. BlackLine, Inc. has a fifty-two-week low of $49.66 and a fifty-two-week high of $135.00. The company has a debt ratio of 20.88, a current ratio of 3.45 and a quick ratio of 3.45. The company has a market capitalization of $4.31 billion, a PE ratio of -49.48 and a beta of 0.91.
Black line (NASDAQ:BL – Get a rating) last released its quarterly results on Thursday, May 5. The technology company reported EPS of $0.01 for the quarter, beating analyst consensus estimates of $0.08 ($0.09). BlackLine had a negative return on equity of 12.37% and a negative net margin of 19.28%. The company posted revenue of $120.24 million in the quarter, compared to $119.57 million expected by analysts. In the same quarter of the previous year, the company posted EPS ($0.14). The company’s revenue increased by 21.6% compared to the same quarter last year. As a group, stock analysts expect BlackLine, Inc. to post -0.86 earnings per share for the current fiscal year.
A number of research companies have recently commented on BL. JPMorgan Chase & Co. reduced its target price on BlackLine from $75.00 to $70.00 in a Friday, May 6 research report. BTIG Research reduced its price target on BlackLine from $115.00 to $95.00 in a research note on Friday, May 6. JMP Securities reduced its target price on BlackLine from $145.00 to $112.00 and set a “market outperformance” rating for the company in a Wednesday, April 20 research report. TheStreet downgraded BlackLine from a “c-” rating to a “d+” rating in a Friday, February 11 research report. Finally, Piper Sandler cut her price target on BlackLine from $130.00 to $112.00 and set an “overweight” rating on the stock in a Friday, Feb. 11 report. One analyst rated the stock with a sell rating, two assigned a hold rating and five assigned the company a buy rating. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $96.22.
A number of institutional investors and hedge funds have recently changed their holdings in the company. Quadrant Capital Group LLC increased its equity stake in BlackLine by 3,036.4% in Q1. Quadrant Capital Group LLC now owns 345 shares of the technology company valued at $25,000 after buying 334 additional shares during the period. San Luis Wealth Advisors LLC acquired a new stock position in BlackLine in Q1 worth approximately $25,000. Pinebridge Investments LP acquired a new position in shares of BlackLine in Q4 valued at approximately $41,000. Mascoma Wealth Management LLC acquired a new stock position in BlackLine in Q1 worth approximately $48,000. Finally, Benjamin Edwards Inc. increased its equity stake in BlackLine by 9,762.5% in the 1st quarter. Benjamin Edwards Inc. now owns 789 shares of the technology company valued at $58,000 after purchasing an additional 781 shares during the period.
Black Line Company Profile (Get a rating)
BlackLine, Inc provides cloud-based solutions to automate and streamline accounting and financial operations worldwide. It offers financial close management solutions, such as account reconciliations that provide a centralized workspace for users to collaborate on account reconciliations; transaction matching which analyzes and reconciles high volumes of individual transactions; and task management to create and manage processes and task lists.
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