Insider Selling: BlackLine (NASDAQ:BL) CAO Sells 664 Shares of Stock

Key Points

• BlackLine's CAO, Michelle Stalick, sold 664 shares of the company's stock at an average price of $54.03, reducing her holdings by 2.71% to a total of 23,830 shares.
• The stock price of BlackLine has decreased by 1.8%, trading at $53.01 with a market cap of $3.28 billion.
• Despite recent insider selling, BlackLine reported $0.51 earnings per share for the quarter, slightly surpassing analysts' expectations of $0.50.

BlackLine (NASDAQ:BL - Get Free Report) CAO Michelle Stalick sold 664 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $54.03, for a total value of $35,875.92. Following the completion of the sale, the chief accounting officer owned 23,830 shares of the company's stock, valued at $1,287,534.90. This represents a 2.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

BlackLine Stock Down 1.8%

BL traded down $0.97 during trading on Monday, reaching $53.01. The company had a trading volume of 1,036,378 shares, compared to its average volume of 762,418. The company has a market cap of $3.28 billion, a P/E ratio of 41.09, a PEG ratio of 8.86 and a beta of 0.91. BlackLine has a 12 month low of $40.82 and a 12 month high of $66.25. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.64 and a quick ratio of 1.64. The business's fifty day moving average price is $54.57 and its 200 day moving average price is $51.98.

BlackLine (NASDAQ:BL - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The technology company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.01. The company had revenue of $172.03 million during the quarter, compared to analysts' expectations of $170.87 million. BlackLine had a return on equity of 15.95% and a net margin of 13.05%.BlackLine's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.58 earnings per share. BlackLine has set its FY 2025 guidance at 2.130-2.240 EPS. Q3 2025 guidance at 0.480-0.510 EPS. Equities analysts anticipate that BlackLine will post 0.9 EPS for the current year.

Institutional Investors Weigh In On BlackLine

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Parkside Financial Bank & Trust boosted its position in shares of BlackLine by 9.4% during the second quarter. Parkside Financial Bank & Trust now owns 2,618 shares of the technology company's stock valued at $148,000 after buying an additional 225 shares during the period. Xponance Inc. boosted its position in shares of BlackLine by 6.8% during the first quarter. Xponance Inc. now owns 4,422 shares of the technology company's stock valued at $214,000 after buying an additional 280 shares during the period. Victory Capital Management Inc. boosted its position in shares of BlackLine by 1.6% during the first quarter. Victory Capital Management Inc. now owns 17,967 shares of the technology company's stock valued at $870,000 after buying an additional 285 shares during the period. Two Sigma Securities LLC boosted its position in shares of BlackLine by 4.7% during the second quarter. Two Sigma Securities LLC now owns 6,664 shares of the technology company's stock valued at $377,000 after buying an additional 301 shares during the period. Finally, Hsbc Holdings PLC boosted its position in shares of BlackLine by 3.8% during the first quarter. Hsbc Holdings PLC now owns 8,410 shares of the technology company's stock valued at $405,000 after buying an additional 305 shares during the period. Institutional investors own 95.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Morgan Stanley lifted their price target on BlackLine from $65.00 to $68.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Zacks Research raised BlackLine to a "strong sell" rating in a report on Friday, August 8th. Citigroup reissued a "buy" rating and set a $67.00 price target (up from $58.00) on shares of BlackLine in a report on Wednesday, July 16th. Piper Sandler increased their target price on shares of BlackLine from $46.00 to $50.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Finally, Raymond James Financial raised BlackLine from a "market perform" rating to an "outperform" rating and set a $67.00 price objective for the company in a report on Tuesday, July 29th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, BlackLine currently has a consensus rating of "Hold" and an average target price of $61.08.

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.

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