Mark Woodhams Sells 2,877 Shares of BlackLine, Inc. (NASDAQ:BL) Stock

BlackLine, Inc. (NASDAQ:BL) CRO Mark Woodhams sold 2,877 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $58.00, for a total transaction of $166,866.00. Following the transaction, the executive now owns 104,682 shares of the company’s stock, valued at approximately $6,071,556. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

BlackLine Stock Performance

Shares of BlackLine stock opened at $60.91 on Friday. The company has a market cap of $3.76 billion, a PE ratio of -609.10, a price-to-earnings-growth ratio of 10.29 and a beta of 0.87. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 4.37. BlackLine, Inc. has a 52 week low of $47.26 and a 52 week high of $69.31. The business has a 50 day moving average price of $62.35 and a 200-day moving average price of $59.48.

BlackLine (NASDAQ:BL) last released its quarterly earnings results on Tuesday, February 13th. The technology company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.28. The business had revenue of $155.73 million during the quarter, compared to analyst estimates of $154.24 million. BlackLine had a positive return on equity of 2.15% and a negative net margin of 1.50%. Equities analysts anticipate that BlackLine, Inc. will post 1.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BlackLine

Several institutional investors and hedge funds have recently added to or reduced their stakes in BL. CWM LLC increased its position in shares of BlackLine by 94.8% during the 4th quarter. CWM LLC now owns 452 shares of the technology company’s stock valued at $28,000 after purchasing an additional 220 shares during the last quarter. YHB Investment Advisors Inc. purchased a new stake in shares of BlackLine during the 1st quarter valued at $33,000. CVA Family Office LLC purchased a new stake in shares of BlackLine during the 4th quarter valued at $38,000. Federated Hermes Inc. increased its position in shares of BlackLine by 505.2% during the 3rd quarter. Federated Hermes Inc. now owns 926 shares of the technology company’s stock valued at $51,000 after purchasing an additional 773 shares during the last quarter. Finally, Operose Advisors LLC increased its position in shares of BlackLine by 291.2% during the 3rd quarter. Operose Advisors LLC now owns 978 shares of the technology company’s stock valued at $54,000 after purchasing an additional 728 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of BlackLine from $55.00 to $52.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 14th. JMP Securities reissued a “market outperform” rating and set a $81.00 price objective on shares of BlackLine in a research report on Wednesday, February 14th. Piper Sandler raised BlackLine from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $55.00 to $62.00 in a research report on Tuesday, April 23rd. The Goldman Sachs Group increased their price target on BlackLine from $49.00 to $54.00 and gave the stock a “sell” rating in a report on Tuesday, January 23rd. Finally, Robert W. Baird reduced their price objective on BlackLine from $65.00 to $61.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $62.20.

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.