Insider Selling: Blackline Inc (NASDAQ:BL) CFO Sells 9,500 Shares of Stock

Blackline Inc (NASDAQ:BL) CFO Mark Partin sold 9,500 shares of Blackline stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $50.21, for a total value of $476,995.00. Following the transaction, the chief financial officer now owns 64,640 shares of the company’s stock, valued at approximately $3,245,574.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

  • On Friday, May 10th, Mark Partin sold 10,000 shares of Blackline stock. The shares were sold at an average price of $50.01, for a total value of $500,100.00.

Shares of NASDAQ:BL traded up $0.04 during mid-day trading on Friday, reaching $53.51. The company had a trading volume of 1,381,596 shares, compared to its average volume of 561,607. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of -205.81 and a beta of 0.95. The company has a 50-day simple moving average of $51.18. Blackline Inc has a one year low of $34.01 and a one year high of $58.11.

Blackline (NASDAQ:BL) last posted its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.14. The company had revenue of $64.13 million for the quarter, compared to analysts’ expectations of $63.33 million. Blackline had a negative net margin of 12.15% and a negative return on equity of 5.02%. Blackline’s revenue was up 25.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.01 EPS. On average, equities analysts expect that Blackline Inc will post -0.29 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the stock. FMR LLC increased its stake in shares of Blackline by 47.1% during the first quarter. FMR LLC now owns 1,130,651 shares of the technology company’s stock valued at $52,372,000 after purchasing an additional 361,839 shares in the last quarter. Diversified Trust Co bought a new position in shares of Blackline during the first quarter valued at approximately $288,000. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Blackline by 168.2% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,936,270 shares of the technology company’s stock valued at $182,328,000 after purchasing an additional 2,468,448 shares in the last quarter. Champlain Investment Partners LLC increased its stake in shares of Blackline by 29.8% during the first quarter. Champlain Investment Partners LLC now owns 1,634,940 shares of the technology company’s stock valued at $75,730,000 after purchasing an additional 375,040 shares in the last quarter. Finally, WCM Investment Management LLC bought a new position in shares of Blackline during the first quarter valued at approximately $1,133,000. 86.61% of the stock is currently owned by institutional investors.

A number of equities analysts have recently weighed in on the company. Zacks Investment Research upgraded Blackline from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research note on Tuesday, April 16th. BidaskClub upgraded Blackline from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Blackline currently has an average rating of “Buy” and an average price target of $54.50.

About Blackline

BlackLine, Inc provides financial accounting close solutions delivered primarily as Software as a Service in the United States and internationally. Its solutions enable its customers to address various aspects of their financial closing process, including account reconciliations, variance analysis of account balances, journal entry capabilities, and range of data matching capabilities.

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Insider Buying and Selling by Quarter for Blackline (NASDAQ:BL)

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