Insider Selling: Blackline Inc (BL) Insider Sells 12,750 Shares of Stock

Blackline Inc (NASDAQ:BL) insider Mario Spanicciati sold 12,750 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $35.87, for a total transaction of $457,342.50. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Mario Spanicciati also recently made the following trade(s):

  • On Monday, November 27th, Mario Spanicciati sold 12,750 shares of Blackline stock. The shares were sold at an average price of $38.17, for a total transaction of $486,667.50.
  • On Monday, November 20th, Mario Spanicciati sold 12,750 shares of Blackline stock. The shares were sold at an average price of $36.79, for a total transaction of $469,072.50.
  • On Monday, November 13th, Mario Spanicciati sold 12,750 shares of Blackline stock. The shares were sold at an average price of $35.45, for a total transaction of $451,987.50.
  • On Monday, November 6th, Mario Spanicciati sold 12,750 shares of Blackline stock. The shares were sold at an average price of $35.18, for a total transaction of $448,545.00.
  • On Monday, October 30th, Mario Spanicciati sold 12,750 shares of Blackline stock. The shares were sold at an average price of $35.05, for a total transaction of $446,887.50.
  • On Wednesday, October 25th, Mario Spanicciati sold 2,125 shares of Blackline stock. The shares were sold at an average price of $35.00, for a total transaction of $74,375.00.
  • On Monday, October 23rd, Mario Spanicciati sold 10,625 shares of Blackline stock. The shares were sold at an average price of $34.06, for a total transaction of $361,887.50.
  • On Monday, October 16th, Mario Spanicciati sold 10,625 shares of Blackline stock. The shares were sold at an average price of $33.57, for a total transaction of $356,681.25.
  • On Monday, October 9th, Mario Spanicciati sold 10,625 shares of Blackline stock. The shares were sold at an average price of $33.49, for a total transaction of $355,831.25.
  • On Monday, October 2nd, Mario Spanicciati sold 10,625 shares of Blackline stock. The shares were sold at an average price of $34.14, for a total transaction of $362,737.50.

Shares of Blackline Inc (NASDAQ:BL) traded down $1.80 during mid-day trading on Tuesday, hitting $34.00. 1,689,048 shares of the stock were exchanged, compared to its average volume of 239,342. Blackline Inc has a 52 week low of $24.14 and a 52 week high of $40.28.

Blackline (NASDAQ:BL) last announced its quarterly earnings data on Thursday, November 2nd. The technology company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.18. Blackline had a negative net margin of 29.53% and a negative return on equity of 8.00%. The company had revenue of $45.90 million during the quarter, compared to analysts’ expectations of $44.07 million. During the same quarter in the prior year, the company posted ($0.05) EPS. The business’s revenue was up 42.5% on a year-over-year basis. sell-side analysts forecast that Blackline Inc will post -0.42 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in BL. Fortaleza Asset Management Inc. grew its holdings in shares of Blackline by 98.2% in the 3rd quarter. Fortaleza Asset Management Inc. now owns 6,215 shares of the technology company’s stock worth $212,000 after purchasing an additional 3,080 shares during the last quarter. Conestoga Capital Advisors LLC bought a new stake in shares of Blackline in the 3rd quarter worth about $21,740,000. New York State Common Retirement Fund grew its holdings in shares of Blackline by 483.5% in the 3rd quarter. New York State Common Retirement Fund now owns 77,017 shares of the technology company’s stock worth $2,628,000 after purchasing an additional 63,817 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Blackline by 20.3% in the 3rd quarter. Rhumbline Advisers now owns 15,254 shares of the technology company’s stock worth $520,000 after purchasing an additional 2,570 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Blackline by 28.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 54,803 shares of the technology company’s stock worth $1,870,000 after purchasing an additional 12,121 shares during the last quarter. Institutional investors own 79.28% of the company’s stock.

Several research firms recently commented on BL. KeyCorp reiterated a “buy” rating and set a $39.00 target price on shares of Blackline in a research note on Friday, September 22nd. BidaskClub cut shares of Blackline from a “buy” rating to a “hold” rating in a research note on Thursday, October 12th. Robert W. Baird set a $42.00 target price on shares of Blackline and gave the company a “buy” rating in a research note on Sunday, October 1st. JMP Securities upgraded shares of Blackline from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 16th. Finally, Zacks Investment Research upgraded shares of Blackline from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Wednesday, August 9th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $38.74.

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Blackline Company Profile

BlackLine, Inc is a holding company. The Company provides cloud-based software platform that is designed to automate and streamline accounting and finance operations. Its platform supports accounting processes, such as the financial close, account reconciliation, intercompany accounting and controls assurance.

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