Mark Woodhams Sells 1,856 Shares of BlackLine, Inc. (NASDAQ:BL) Stock

BlackLine, Inc. (NASDAQ:BL) CRO Mark Woodhams sold 1,856 shares of the business’s stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $54.65, for a total value of $101,430.40. Following the completion of the sale, the executive now owns 61,390 shares of the company’s stock, valued at $3,354,963.50. The trade was a 2.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Friday, February 21st, Mark Woodhams sold 9,088 shares of BlackLine stock. The shares were sold at an average price of $49.67, for a total value of $451,400.96.

BlackLine Price Performance

Shares of BL opened at $54.16 on Friday. The firm has a market capitalization of $3.38 billion, a PE ratio of 37.35, a price-to-earnings-growth ratio of 10.80 and a beta of 0.94. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.59 and a quick ratio of 2.69. BlackLine, Inc. has a 1-year low of $40.82 and a 1-year high of $66.25. The company’s fifty day moving average price is $48.74 and its 200-day moving average price is $55.05.

Wall Street Analyst Weigh In

BL has been the subject of a number of recent research reports. DA Davidson reduced their price objective on shares of BlackLine from $58.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Truist Financial boosted their price objective on shares of BlackLine from $40.00 to $45.00 and gave the stock a “hold” rating in a research note on Thursday, May 8th. Morgan Stanley reduced their price objective on shares of BlackLine from $80.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. BMO Capital Markets reduced their price objective on shares of BlackLine from $68.00 to $60.00 and set a “market perform” rating for the company in a research note on Wednesday, February 12th. Finally, Wall Street Zen downgraded shares of BlackLine from a “buy” rating to a “hold” rating in a research note on Thursday, May 15th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $60.75.

Institutional Investors Weigh In On BlackLine

A number of large investors have recently made changes to their positions in BL. SBI Securities Co. Ltd. purchased a new stake in shares of BlackLine during the fourth quarter valued at $31,000. Global Retirement Partners LLC grew its position in BlackLine by 568.4% during the 4th quarter. Global Retirement Partners LLC now owns 528 shares of the technology company’s stock worth $32,000 after purchasing an additional 449 shares during the period. Quadrant Capital Group LLC grew its position in BlackLine by 243.5% during the 4th quarter. Quadrant Capital Group LLC now owns 584 shares of the technology company’s stock worth $35,000 after purchasing an additional 414 shares during the period. Headlands Technologies LLC acquired a new stake in BlackLine during the 4th quarter worth about $50,000. Finally, Huntington National Bank grew its position in BlackLine by 596.4% during the 4th quarter. Huntington National Bank now owns 968 shares of the technology company’s stock worth $59,000 after purchasing an additional 829 shares during the period. 95.13% of the stock is owned by hedge funds and other institutional investors.

BlackLine Company Profile

BlackLine, Inc operates a cloud-based software platform which is designed to transform accounting and finance operations for organizations of all types and sizes. Its scalable platform supports critical accounting processes such as the financial close, account reconciliations, intercompany accounting, and controls assurance.