Blackline Inc (BL) Insider Sells $922,373.28 in Stock

Blackline Inc (NASDAQ:BL) insider Morgan Karole Prager sold 19,692 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $46.84, for a total value of $922,373.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of BL traded up $1.24 during midday trading on Tuesday, hitting $47.94. 382,681 shares of the company traded hands, compared to its average volume of 481,186. Blackline Inc has a 52 week low of $34.01 and a 52 week high of $58.11. The company has a market capitalization of $2.56 billion, a PE ratio of -184.38 and a beta of 1.05.

Blackline (NASDAQ:BL) last released its quarterly earnings data on Thursday, February 14th. The technology company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.09) by $0.12. Blackline had a negative net margin of 12.21% and a negative return on equity of 4.52%. The business had revenue of $62.32 million during the quarter, compared to the consensus estimate of $61.65 million. During the same quarter in the prior year, the firm earned $0.06 EPS. The business’s revenue was up 24.6% on a year-over-year basis. As a group, analysts forecast that Blackline Inc will post -0.29 earnings per share for the current year.

A number of equities research analysts have issued reports on the company. KeyCorp reiterated a “buy” rating and issued a $56.00 price target on shares of Blackline in a research note on Thursday, February 14th. BidaskClub upgraded Blackline from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 5th. Zacks Investment Research lowered Blackline from a “buy” rating to a “hold” rating in a research note on Friday, February 15th. Raymond James lowered Blackline from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 22nd. They noted that the move was a valuation call. Finally, Goldman Sachs Group reiterated a “buy” rating and issued a $53.00 price target on shares of Blackline in a research note on Friday, February 1st. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $50.40.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its holdings in Blackline by 6.2% during the fourth quarter. Geode Capital Management LLC now owns 422,848 shares of the technology company’s stock valued at $17,315,000 after buying an additional 24,664 shares during the period. Norges Bank purchased a new position in Blackline during the fourth quarter valued at approximately $11,551,000. Amalgamated Bank purchased a new position in Blackline during the fourth quarter valued at approximately $216,000. Millennium Management LLC increased its holdings in Blackline by 101.7% during the fourth quarter. Millennium Management LLC now owns 82,665 shares of the technology company’s stock valued at $3,385,000 after buying an additional 41,688 shares during the period. Finally, Legal & General Group Plc increased its holdings in Blackline by 7.3% during the fourth quarter. Legal & General Group Plc now owns 14,597 shares of the technology company’s stock valued at $598,000 after buying an additional 991 shares during the period. 85.21% of the stock is owned by institutional investors and hedge funds.

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About Blackline

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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Insider Buying and Selling by Quarter for Blackline (NASDAQ:BL)

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