Insider Selling: BlackLine (NASDAQ:BL) Director Sells $150,150.00 in Stock

BlackLine (NASDAQ:BL) Director Thomas Unterman sold 2,730 shares of the firm’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $55.00, for a total value of $150,150.00. Following the completion of the sale, the director directly owned 47,270 shares in the company, valued at approximately $2,599,850. This represents a 5.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Thomas Unterman also recently made the following trade(s):

• On Monday, September 22nd, Thomas Unterman sold 910 shares of BlackLine stock. The shares were sold at an average price of $55.00, for a total value of $50,050.00.
• On Thursday, August 28th, Thomas Unterman sold 910 shares of BlackLine stock. The stock was sold at an average price of $55.00, for a total transaction of $50,050.00.
• On Monday, July 21st, Thomas Unterman sold 885 shares of BlackLine stock. The stock was sold at an average price of $56.70, for a total transaction of $50,179.50.

BlackLine Stock Up 0.7%

NASDAQ BL opened at $52.84 on Friday. BlackLine has a one year low of $40.82 and a one year high of $66.25. The stock’s 50 day simple moving average is $53.53 and its 200 day simple moving average is $52.42. The firm has a market cap of $3.27 billion, a PE ratio of 40.96, a price-to-earnings-growth ratio of 8.61 and a beta of 0.95. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.64 and a quick ratio of 1.64.

BlackLine (NASDAQ:BL) last announced its quarterly earnings data on Tuesday, August 5th. The technology company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01. The business had revenue of $172.03 million for the quarter, compared to analyst estimates of $170.87 million. BlackLine had a net margin of 13.05% and a return on equity of 15.95%. BlackLine’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.58 earnings per share. BlackLine has set its FY 2025 guidance at 2.130-2.240 EPS. Q3 2025 guidance at 0.480-0.510 EPS. As a group, sell-side analysts forecast that BlackLine will post 0.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BL. Truist Financial boosted their price objective on shares of BlackLine from $45.00 to $50.00 and gave the company a “hold” rating in a research report on Thursday, August 7th. Cantor Fitzgerald started coverage on shares of BlackLine in a report on Tuesday, June 3rd. They set a “neutral” rating and a $58.00 target price on the stock. Citigroup reaffirmed a “buy” rating and set a $67.00 price target (up from $58.00) on shares of BlackLine in a research report on Wednesday, July 16th. Morgan Stanley lifted their price objective on shares of BlackLine from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, August 6th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $56.00 target price on shares of BlackLine in a report on Wednesday, August 6th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $60.58.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hawk Ridge Capital Management LP boosted its position in shares of BlackLine by 124.3% in the first quarter. Hawk Ridge Capital Management LP now owns 1,959,945 shares of the technology company’s stock valued at $94,901,000 after acquiring an additional 1,086,185 shares during the period. First Manhattan CO. LLC. boosted its holdings in BlackLine by 408.7% in the 1st quarter. First Manhattan CO. LLC. now owns 815,975 shares of the technology company’s stock valued at $39,510,000 after purchasing an additional 655,565 shares during the period. Westwood Holdings Group Inc. grew its position in shares of BlackLine by 106.4% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,186,347 shares of the technology company’s stock worth $57,443,000 after purchasing an additional 611,499 shares in the last quarter. Nuveen LLC bought a new position in shares of BlackLine during the first quarter worth approximately $25,194,000. Finally, Ensign Peak Advisors Inc raised its position in shares of BlackLine by 2,460.0% in the second quarter. Ensign Peak Advisors Inc now owns 520,325 shares of the technology company’s stock valued at $29,461,000 after buying an additional 500,000 shares in the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

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.