BlackLine (BL) Sets New 12-Month High and Low at $47.36

BlackLine, Inc. (NASDAQ:BL) shares reached a new 52-week high and low on Tuesday . The stock traded as low as $47.36 and last traded at $47.17, with a volume of 37050 shares traded. The stock had previously closed at $44.46.

Several research analysts recently commented on BL shares. Zacks Investment Research cut BlackLine from a “hold” rating to a “sell” rating in a research report on Thursday, February 22nd. Robert W. Baird reissued a “buy” rating on shares of BlackLine in a research report on Friday, February 16th. BidaskClub raised BlackLine from a “hold” rating to a “buy” rating in a research report on Wednesday, June 6th. KeyCorp increased their price target on BlackLine from $46.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, March 12th. Finally, ValuEngine raised BlackLine from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. BlackLine currently has a consensus rating of “Buy” and a consensus price target of $41.80.

The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of -134.19 and a beta of -0.46.

BlackLine (NASDAQ:BL) last announced its earnings results on Thursday, May 3rd. The technology company reported $0.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.04. The company had revenue of $51.30 million for the quarter, compared to analyst estimates of $50.37 million. BlackLine had a negative return on equity of 6.01% and a negative net margin of 19.09%. The firm’s quarterly revenue was up 34.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.06) earnings per share. equities analysts forecast that BlackLine, Inc. will post -0.26 earnings per share for the current year.

In other BlackLine news, CRO Chris Murphy sold 15,000 shares of the firm’s stock in a transaction on Monday, May 21st. The stock was sold at an average price of $41.27, for a total value of $619,050.00. Following the sale, the executive now owns 33,872 shares of the company’s stock, valued at approximately $1,397,897.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Sumeru (Gp) L.L.C. Slta sold 3,500,000 shares of the firm’s stock in a transaction on Friday, May 25th. The shares were sold at an average price of $40.05, for a total value of $140,175,000.00. The disclosure for this sale can be found here. Insiders have sold 3,560,000 shares of company stock worth $142,699,650 in the last three months. 18.60% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co. NY bought a new position in BlackLine during the 4th quarter worth $175,000. Legal & General Group Plc raised its position in shares of BlackLine by 47.8% in the 1st quarter. Legal & General Group Plc now owns 5,500 shares of the technology company’s stock worth $215,000 after acquiring an additional 1,779 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new position in shares of BlackLine in the 1st quarter worth about $229,000. BNP Paribas Arbitrage SA raised its position in shares of BlackLine by 82.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,831 shares of the technology company’s stock worth $229,000 after acquiring an additional 2,640 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of BlackLine in the 1st quarter worth about $230,000. 79.26% of the stock is currently owned by institutional investors.

BlackLine Company Profile

BlackLine, Inc provides financial accounting close solutions delivered as a Software as a Service in the United States and internationally. Its solutions enables its customers to address various aspects of their financial closing process, including account reconciliations, variance analysis of account balances, and journal entry capabilities, as well as a range of data matching capabilities.

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