Mark Partin Sells 5,648 Shares of BlackLine, Inc. (NASDAQ:BL) Stock

BlackLine, Inc. (NASDAQ:BL) CFO Mark Partin sold 5,648 shares of BlackLine stock in a transaction on Friday, September 27th. The stock was sold at an average price of $53.00, for a total transaction of $299,344.00. Following the sale, the chief financial officer now owns 226,844 shares in the company, valued at approximately $12,022,732. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Mark Partin also recently made the following trade(s):

• On Monday, September 30th, Mark Partin sold 85,308 shares of BlackLine stock. The stock was sold at an average price of $54.84, for a total transaction of $4,678,290.72.

BlackLine Stock Down 1.8 %

NASDAQ:BL opened at $54.13 on Wednesday. The stock’s fifty day moving average price is $49.67 and its two-hundred day moving average price is $52.85. BlackLine, Inc. has a 52-week low of $43.37 and a 52-week high of $69.31. The company has a debt-to-equity ratio of 2.74, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market cap of $3.35 billion, a price-to-earnings ratio of 235.35, a P/E/G ratio of 12.80 and a beta of 0.89.

BlackLine (NASDAQ:BL) last posted its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.08. BlackLine had a return on equity of 33.96% and a net margin of 19.46%. The firm had revenue of $160.51 million for the quarter, compared to the consensus estimate of $158.21 million. During the same quarter in the prior year, the business earned ($0.69) EPS. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, analysts anticipate that BlackLine, Inc. will post 0.94 EPS for the current year.

Wall Street Analysts Forecast Growth

BL has been the topic of a number of recent research reports. Morgan Stanley upgraded shares of BlackLine from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $60.00 to $70.00 in a research note on Monday. JMP Securities reiterated a “market outperform” rating and set a $81.00 price target on shares of BlackLine in a research note on Monday, July 15th. BTIG Research reduced their target price on shares of BlackLine from $71.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. JPMorgan Chase & Co. reduced their target price on shares of BlackLine from $50.00 to $47.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 7th. Finally, Citigroup reduced their target price on shares of BlackLine from $62.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, June 28th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $59.90.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Sanctuary Advisors LLC bought a new stake in shares of BlackLine during the 2nd quarter valued at $220,000. Teachers Retirement System of The State of Kentucky raised its position in shares of BlackLine by 39.6% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 19,600 shares of the technology company’s stock valued at $949,000 after acquiring an additional 5,563 shares during the last quarter. Cetera Investment Advisers raised its position in shares of BlackLine by 5.6% during the 2nd quarter. Cetera Investment Advisers now owns 25,701 shares of the technology company’s stock valued at $1,245,000 after acquiring an additional 1,357 shares during the last quarter. Quarry LP bought a new stake in shares of BlackLine during the 2nd quarter valued at $32,000. Finally, Algert Global LLC bought a new stake in shares of BlackLine during the 2nd quarter valued at $255,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

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.