Blackline Inc (BL) CFO Sells $1,023,126.12 in Stock

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Blackline Inc (NASDAQ:BL) CFO Mark Partin sold 21,843 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $46.84, for a total transaction of $1,023,126.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Shares of NASDAQ:BL opened at $48.90 on Friday. Blackline Inc has a 1 year low of $34.01 and a 1 year high of $58.11.

Blackline (NASDAQ:BL) last issued its earnings results on Thursday, February 14th. The technology company reported $0.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.12. Blackline had a negative return on equity of 4.52% and a negative net margin of 12.21%. The business had revenue of $62.32 million during the quarter, compared to analysts’ expectations of $61.65 million. During the same quarter in the previous year, the business earned $0.06 EPS. The company’s revenue for the quarter was up 24.6% on a year-over-year basis. As a group, equities analysts predict that Blackline Inc will post -0.29 earnings per share for the current fiscal year.

A number of research analysts have recently commented on the stock. BidaskClub downgraded shares of Blackline from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 5th. Zacks Investment Research raised shares of Blackline from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Tuesday, January 1st. Raymond James downgraded shares of Blackline from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 22nd. They noted that the move was a valuation call. Goldman Sachs Group reaffirmed a “buy” rating and set a $53.00 price objective on shares of Blackline in a research note on Friday, February 1st. Finally, KeyCorp reaffirmed a “buy” rating and set a $56.00 price objective on shares of Blackline in a research note on Thursday, February 14th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Blackline currently has an average rating of “Hold” and a consensus price target of $52.25.

Large investors have recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. grew its holdings in shares of Blackline by 73.1% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 1,156 shares of the technology company’s stock worth $47,000 after purchasing an additional 488 shares during the period. Rehmann Capital Advisory Group purchased a new stake in shares of Blackline during the 3rd quarter worth about $63,000. Parkside Financial Bank & Trust grew its holdings in shares of Blackline by 82.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,528 shares of the technology company’s stock worth $63,000 after purchasing an additional 691 shares during the period. Advisor Group Inc. grew its holdings in shares of Blackline by 86.8% during the 4th quarter. Advisor Group Inc. now owns 2,950 shares of the technology company’s stock worth $121,000 after purchasing an additional 1,371 shares during the period. Finally, We Are One Seven LLC purchased a new position in Blackline in the 4th quarter worth approximately $131,000. Institutional investors and hedge funds own 85.21% of the company’s stock.

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About Blackline

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

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