Insider Selling: BlackLine (NASDAQ:BL) Director Sells $2,237,200.00 in Stock

Key Points

• BlackLine director Therese Tucker sold 70,000 shares at an average price of $31.96, generating $2.24 million. Her remaining stake fell 15.5% to 381,557 shares.
• BlackLine shares declined 1.0% to $31.32, well below their 52-week high of $59.57. Institutional investors own approximately 95.13% of the company.
• The company exceeded quarterly expectations, reporting adjusted earnings of $0.61 per share versus the $0.57 consensus and revenue of $187.82 million, up 9.1% year over year. Analysts maintain a consensus “Hold” rating with a $40.08 price target.

BlackLine (NASDAQ:BL - Get Free Report) Director Therese Tucker sold 70,000 shares of the firm's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $31.96, for a total value of $2,237,200.00. Following the sale, the director owned 381,557 shares of the company's stock, valued at $12,194,561.72. This represents a 15.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

BlackLine Stock Down 1.0%

Shares of NASDAQ:BL traded down $0.31 during trading on Wednesday, hitting $31.32. The company's stock had a trading volume of 407,462 shares, compared to its average volume of 1,229,016. The company has a market capitalization of $1.82 billion, a PE ratio of 54.95, a PEG ratio of 2.12 and a beta of 0.64. BlackLine has a fifty-two week low of $24.70 and a fifty-two week high of $59.57. The company has a debt-to-equity ratio of 2.12, a quick ratio of 1.72 and a current ratio of 1.72. The stock's 50-day moving average price is $29.53 and its two-hundred day moving average price is $32.03.

BlackLine (NASDAQ:BL - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The technology company reported $0.61 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.04. BlackLine had a return on equity of 20.89% and a net margin of 4.75%.The firm had revenue of $187.82 million during the quarter, compared to analyst estimates of $186.99 million. During the same quarter last year, the firm earned $0.51 EPS. BlackLine's quarterly revenue was up 9.1% on a year-over-year basis. BlackLine has set its FY 2026 guidance at 2.470-2.540 EPS and its Q3 2026 guidance at 0.620-0.650 EPS. As a group, sell-side analysts expect that BlackLine will post 0.98 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BL. DA Davidson set a $30.00 target price on shares of BlackLine in a research report on Thursday, July 9th. Citizens Jmp reiterated a "market outperform" rating and issued a $70.00 price target on shares of BlackLine in a research note on Tuesday, April 28th. Bank of America assumed coverage on BlackLine in a report on Tuesday, May 12th. They issued an "underperform" rating and a $26.00 price objective for the company. Scotiabank cut BlackLine to an "outperform" rating in a research note on Tuesday, July 21st. Finally, Robert W. Baird set a $35.00 target price on BlackLine in a report on Wednesday, August 5th. Five analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, BlackLine has a consensus rating of "Hold" and a consensus price target of $40.08.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Measured Wealth Private Client Group LLC acquired a new stake in BlackLine during the third quarter worth about $25,000. Kestra Advisory Services LLC acquired a new position in BlackLine in the fourth quarter valued at approximately $28,000. Optiver Holding B.V. grew its holdings in shares of BlackLine by 13,828.6% during the first quarter. Optiver Holding B.V. now owns 975 shares of the technology company's stock valued at $36,000 after purchasing an additional 968 shares during the last quarter. Leonteq Securities AG grew its holdings in shares of BlackLine by 1,019.6% during the first quarter. Leonteq Securities AG now owns 1,086 shares of the technology company's stock valued at $40,000 after purchasing an additional 989 shares during the last quarter. Finally, Global Retirement Partners LLC raised its position in shares of BlackLine by 306.7% during the 4th quarter. Global Retirement Partners LLC now owns 1,220 shares of the technology company's stock worth $67,000 after purchasing an additional 920 shares during the period. 95.13% of the stock is currently owned by institutional investors.

About BlackLine

BlackLine, Inc is a leading provider of cloud-based software solutions designed to automate and modernize the finance and accounting function. The company's flagship offering, the BlackLine Finance Controls and Automation Platform, enables organizations to streamline critical processes such as account reconciliations, journal entry management, intercompany accounting, and transaction matching. By delivering a centralized, real-time view of financial data, BlackLine helps companies improve operational efficiency, enhance compliance and strengthen internal controls.

Key products and services within the BlackLine platform include Account Reconciliation, Task Management, Transaction Matching, Journal Entry, and Intercompany Hub.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source