BlackLine, Inc. (NASDAQ:BL) CRO Mark Woodhams Sells 23,334 Shares of Stock

BlackLine, Inc. (NASDAQ:BL) CRO Mark Woodhams sold 23,334 shares of the firm’s stock in a transaction that occurred on Wednesday, November 24th. The shares were sold at an average price of $112.50, for a total transaction of $2,625,075.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

BL opened at $112.28 on Thursday. BlackLine, Inc. has a fifty-two week low of $98.06 and a fifty-two week high of $154.61. The company has a debt-to-equity ratio of 3.22, a quick ratio of 5.08 and a current ratio of 5.08. The company has a fifty day moving average of $122.73 and a two-hundred day moving average of $114.62. The stock has a market capitalization of $6.59 billion, a price-to-earnings ratio of -68.46 and a beta of 0.83.

BlackLine (NASDAQ:BL) last released its quarterly earnings data on Thursday, November 4th. The technology company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.13. BlackLine had a negative net margin of 23.43% and a negative return on equity of 4.02%. The company had revenue of $109.40 million during the quarter, compared to analysts’ expectations of $107.06 million. During the same quarter in the previous year, the company earned $0.02 earnings per share. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. On average, equities research analysts forecast that BlackLine, Inc. will post -0.45 earnings per share for the current year.

Several equities research analysts have recently commented on BL shares. Oppenheimer lifted their price objective on shares of BlackLine from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, November 5th. Zacks Investment Research upgraded shares of BlackLine from a “sell” rating to a “hold” rating in a research note on Wednesday, November 3rd. Piper Sandler decreased their target price on shares of BlackLine from $158.00 to $155.00 and set an “overweight” rating for the company in a research report on Friday, November 5th. Finally, BTIG Research restated a “buy” rating and set a $149.00 target price on shares of BlackLine in a research report on Friday, November 5th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, BlackLine presently has an average rating of “Buy” and a consensus price target of $142.67.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC increased its stake in shares of BlackLine by 47.1% during the first quarter. FMR LLC now owns 1,130,651 shares of the technology company’s stock worth $52,372,000 after purchasing an additional 361,839 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of BlackLine by 184.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 237,338 shares of the technology company’s stock worth $25,727,000 after purchasing an additional 153,772 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in shares of BlackLine by 44.9% during the first quarter. Cubist Systematic Strategies LLC now owns 15,533 shares of the technology company’s stock worth $1,684,000 after purchasing an additional 4,810 shares in the last quarter. Voloridge Investment Management LLC purchased a new stake in shares of BlackLine during the first quarter worth about $2,424,000. Finally, Canada Pension Plan Investment Board increased its stake in shares of BlackLine by 61.3% during the first quarter. Canada Pension Plan Investment Board now owns 5,961 shares of the technology company’s stock worth $646,000 after purchasing an additional 2,265 shares in the last quarter. 96.51% of the stock is owned by institutional investors.

About BlackLine

BlackLine, Inc operates a cloud-based software platform which is designed to transform accounting and finance operations for organizations of all types and sizes. Its scalable platform supports critical accounting processes such as the financial close, account reconciliations, intercompany accounting, and controls assurance.

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