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

BlackLine, Inc. (NASDAQ:BL - Get Free Report) CAO Michelle D. Stalick sold 795 shares of BlackLine stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $55.14, for a total transaction of $43,836.30. Following the completion of the transaction, the chief accounting officer now owns 25,235 shares in the company, valued at approximately $1,391,457.90. This trade represents a 3.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

BlackLine Stock Performance

Shares of NASDAQ BL remained flat at $55.32 during mid-day trading on Friday. 964,585 shares of the stock were exchanged, compared to its average volume of 760,545. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.59 and a quick ratio of 2.69. BlackLine, Inc. has a 1-year low of $40.82 and a 1-year high of $66.25. The stock has a fifty day simple moving average of $49.22 and a 200 day simple moving average of $54.81. The firm has a market capitalization of $3.45 billion, a PE ratio of 38.15, a PEG ratio of 10.80 and a beta of 0.94.

Analyst Ratings Changes

BL has been the topic of a number of analyst reports. Truist Financial lifted their price target on BlackLine from $40.00 to $45.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th. Morgan Stanley dropped their target price on shares of BlackLine from $80.00 to $65.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Piper Sandler boosted their price target on shares of BlackLine from $46.00 to $50.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Wall Street Zen lowered shares of BlackLine from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Finally, Citigroup cut their target price on shares of BlackLine from $73.00 to $70.00 and set a "buy" rating on the stock in a research note on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, BlackLine currently has a consensus rating of "Hold" and an average price target of $60.75.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BL. Hawk Ridge Capital Management LP raised its holdings in shares of BlackLine by 124.3% during the 1st quarter. Hawk Ridge Capital Management LP now owns 1,959,945 shares of the technology company's stock valued at $94,901,000 after purchasing an additional 1,086,185 shares in the last quarter. Topline Capital Management LLC acquired a new position in BlackLine during the fourth quarter worth $60,572,000. American Century Companies Inc. raised its holdings in BlackLine by 12,538.0% during the fourth quarter. American Century Companies Inc. now owns 896,665 shares of the technology company's stock valued at $54,481,000 after buying an additional 889,570 shares in the last quarter. First Manhattan CO. LLC. lifted its position in shares of BlackLine by 408.7% in the first quarter. First Manhattan CO. LLC. now owns 815,975 shares of the technology company's stock worth $39,510,000 after buying an additional 655,565 shares during the last quarter. Finally, Westwood Holdings Group Inc. boosted its stake 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 acquiring an additional 611,499 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.