BlackLine, Inc. (NASDAQ:BL) CFO Mark Partin sold 5,000 shares of the stock in a transaction on Thursday, June 10th. The shares were sold at an average price of $103.79, for a total transaction of $518,950.00. Following the transaction, the chief financial officer now owns 102,584 shares in the company, valued at $10,647,193.36. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Mark Partin also recently made the following trade(s):
- On Monday, May 10th, Mark Partin sold 5,000 shares of BlackLine stock. The stock was sold at an average price of $104.24, for a total transaction of $521,200.00.
NASDAQ BL opened at $104.27 on Friday. The stock has a 50-day moving average price of $109.11. BlackLine, Inc. has a 52 week low of $71.20 and a 52 week high of $154.61. The company has a market cap of $6.05 billion, a PE ratio of -82.10 and a beta of 0.90. The company has a current ratio of 5.11, a quick ratio of 5.11 and a debt-to-equity ratio of 3.14.
Several institutional investors and hedge funds have recently modified their holdings of the company. Envestnet Asset Management Inc. grew its stake in shares of BlackLine by 22.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 221,461 shares of the technology company’s stock worth $24,006,000 after purchasing an additional 40,393 shares during the last quarter. Moody Aldrich Partners LLC raised its holdings in BlackLine by 1.6% during the 1st quarter. Moody Aldrich Partners LLC now owns 59,187 shares of the technology company’s stock worth $6,416,000 after buying an additional 914 shares during the period. California Public Employees Retirement System raised its holdings in BlackLine by 6.9% during the 4th quarter. California Public Employees Retirement System now owns 122,257 shares of the technology company’s stock worth $16,307,000 after buying an additional 7,900 shares during the period. Vestmark Advisory Solutions Inc. lifted its stake in BlackLine by 9.6% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 10,506 shares of the technology company’s stock valued at $1,401,000 after buying an additional 918 shares in the last quarter. Finally, CIBC Asset Management Inc acquired a new position in shares of BlackLine in the fourth quarter worth about $279,000. 93.75% of the stock is currently owned by institutional investors.
BL has been the subject of several research analyst reports. Berenberg Bank initiated coverage on BlackLine in a report on Thursday, March 4th. They issued a “buy” rating and a $150.00 price objective for the company. The Goldman Sachs Group raised BlackLine from a “sell” rating to a “neutral” rating and upped their price target for the company from $80.00 to $137.00 in a research report on Tuesday, February 16th. TheStreet lowered shares of BlackLine from a “c” rating to a “d+” rating in a research note on Monday, March 15th. KeyCorp raised their price target on shares of BlackLine from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday, February 12th. Finally, Bank of America started coverage on shares of BlackLine in a report on Friday, April 23rd. They issued a “neutral” rating and a $120.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $134.82.
BlackLine, Inc provides cloud-based solutions to automate and streamline accounting and finance operations in the United States and internationally. It offers financial close management solutions that include account reconciliations providing a centralized workspace from which users can collaborate to complete account reconciliations; transaction matching that analyzes and reconciles high volumes of individual transactions from different sources of data based upon user-configured logic; task management, which enables users to create and manage processes and task lists; journal entry that allows users to manually or automatically generate, review, and post manual journal entries; variance analysis that monitors and identifies anomalous fluctuations in balance sheet and income statement account balances; consolidation integrity manager that manages the automated system-to-system tie-out process that occurs during the consolidation phase of the financial close; and compliance that facilitates compliance-related initiatives, consolidates project management, and provides visibility over control self-assessments and testing.
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