Karole Morgan-Prager Sells 5,773 Shares of BlackLine, Inc. (NASDAQ:BL) Stock

BlackLine, Inc. (NASDAQ:BL) insider Karole Morgan-Prager sold 5,773 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $55.14, for a total transaction of $318,323.22. Following the sale, the insider now directly owns 113,865 shares in the company, valued at approximately $6,278,516.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Karole Morgan-Prager also recently made the following trade(s):

• On Monday, September 30th, Karole Morgan-Prager sold 10,000 shares of BlackLine stock. The shares were sold at an average price of $55.00, for a total value of $550,000.00.
• On Wednesday, August 7th, Karole Morgan-Prager sold 10,000 shares of BlackLine stock. The shares were sold at an average price of $50.00, for a total transaction of $500,000.00.

BlackLine Stock Up 1.2 %

Shares of BL stock opened at $54.51 on Friday. BlackLine, Inc. has a fifty-two week low of $43.37 and a fifty-two 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 firm has a market capitalization of $3.37 billion, a PE ratio of 237.00, a P/E/G ratio of 12.80 and a beta of 0.90. The stock’s 50-day simple moving average is $50.21 and its 200-day simple moving average is $52.64.

BlackLine (NASDAQ:BL) last issued its earnings results 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. The firm had revenue of $160.51 million during the quarter, compared to analysts’ expectations of $158.21 million. BlackLine had a net margin of 19.46% and a return on equity of 33.96%. The firm’s revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.69) earnings per share. Equities analysts expect that BlackLine, Inc. will post 0.94 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BL. JPMorgan Chase & Co. reduced their price objective on shares of BlackLine from $50.00 to $47.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 7th. Citigroup reduced their price target on BlackLine from $62.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, June 28th. Morgan Stanley upgraded BlackLine from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $60.00 to $70.00 in a report on Monday, September 30th. Robert W. Baird reduced their target price on BlackLine from $72.00 to $65.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, JMP Securities reiterated a “market outperform” rating and set a $81.00 target price on shares of BlackLine in a research report on Monday, July 15th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $59.90.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Quadrature Capital Ltd lifted its position in shares of BlackLine by 346.5% during the 1st quarter. Quadrature Capital Ltd now owns 31,846 shares of the technology company’s stock valued at $2,055,000 after buying an additional 24,713 shares in the last quarter. Cetera Investment Advisers purchased a new stake in BlackLine during the 1st quarter valued at about $1,572,000. Comerica Bank raised its holdings in BlackLine by 11.8% in the 1st quarter. Comerica Bank now owns 124,266 shares of the technology company’s stock valued at $8,025,000 after acquiring an additional 13,066 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in BlackLine in the 1st quarter valued at about $2,000,000. Finally, Teachers Retirement System of The State of Kentucky acquired a new position in shares of BlackLine during the 1st quarter worth approximately $907,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

About BlackLine

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.