BlackLine, Inc. (NASDAQ:BL) CAO Michelle D. Stalick Sells 795 Shares

BlackLine, Inc. (NASDAQ:BL) CAO Michelle D. Stalick sold 795 shares of the business’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $55.14, for a total value of $43,836.30. Following the completion of the transaction, the chief accounting officer now directly owns 25,235 shares of the company’s stock, valued at approximately $1,391,457.90. The trade was a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

BlackLine Price Performance

NASDAQ BL opened at $55.32 on Friday. The firm’s 50 day moving average is $49.12 and its 200-day moving average is $54.91. The company has a quick ratio of 2.69, a current ratio of 2.59 and a debt-to-equity ratio of 2.00. The company has a market capitalization of $3.45 billion, a PE ratio of 38.15, a price-to-earnings-growth ratio of 10.80 and a beta of 0.94. BlackLine, Inc. has a 12-month low of $40.82 and a 12-month high of $66.25.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. DA Davidson cut their price objective on BlackLine from $58.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, April 14th. The Goldman Sachs Group dropped their target price on shares of BlackLine from $51.00 to $43.00 and set a “sell” rating on the stock in a report on Thursday, April 17th. Bank of America raised shares of BlackLine from an “underperform” rating to a “buy” rating and lifted their price target for the company from $50.00 to $75.00 in a research note on Thursday, January 30th. Truist Financial increased their price objective on shares of BlackLine from $40.00 to $45.00 and gave the stock a “hold” rating in a research report on Thursday, May 8th. Finally, Piper Sandler raised their price objective on shares of BlackLine from $46.00 to $50.00 and gave the stock a “neutral” rating in a report on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $60.75.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers boosted its stake in shares of BlackLine by 0.6% during the 1st quarter. Rhumbline Advisers now owns 146,839 shares of the technology company’s stock worth $7,110,000 after buying an additional 815 shares during the last quarter. Strs Ohio bought a new stake in BlackLine during the first quarter worth about $82,000. Intech Investment Management LLC boosted its position in BlackLine by 28.1% during the first quarter. Intech Investment Management LLC now owns 25,883 shares of the technology company’s stock valued at $1,253,000 after purchasing an additional 5,682 shares during the last quarter. Bayforest Capital Ltd boosted its position in BlackLine by 282.6% during the first quarter. Bayforest Capital Ltd now owns 4,277 shares of the technology company’s stock valued at $207,000 after purchasing an additional 3,159 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in BlackLine by 4.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 164,763 shares of the technology company’s stock valued at $7,978,000 after purchasing an additional 7,228 shares in the last quarter. Institutional investors own 95.13% of the company’s stock.

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.