Insider Selling: BlackLine (NASDAQ:BL) Director Sells 885 Shares of Stock

Key Points

• Thomas Unterman, a director at BlackLine, sold 885 shares of the company's stock at an average price of $56.70, resulting in a total transaction of $50,179.50.
• The stock's recent performance shows shares trading at $53.81, reflecting a decline with a market cap of $3.33 billion and a P/E ratio of 41.71.
• BlackLine recently reported quarterly earnings of $0.51 per share, exceeding analyst expectations and showing a 7.2% year-over-year revenue growth.

BlackLine (NASDAQ:BL - Get Free Report) Director Thomas Unterman sold 885 shares of the stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $56.70, for a total transaction of $50,179.50. Following the completion of the transaction, the director directly owned 44,565 shares in the company, valued at $2,526,835.50. The trade was a 1.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Thomas Unterman also recently made the following trade(s):

• On Monday, September 22nd, Thomas Unterman sold 910 shares of BlackLine stock. The shares were sold at an average price of $55.00, for a total transaction of $50,050.00.
• On Thursday, August 28th, Thomas Unterman sold 910 shares of BlackLine stock. The shares were sold at an average price of $55.00, for a total transaction of $50,050.00.

BlackLine Stock Performance

Shares of BL traded down $0.56 during trading hours on Wednesday, hitting $53.81. The company had a trading volume of 443,973 shares, compared to its average volume of 658,584. The firm has a market cap of $3.33 billion, a price-to-earnings ratio of 41.71, a PEG ratio of 8.92 and a beta of 0.95. The business has a fifty day moving average of $53.67 and a 200-day moving average of $52.36. BlackLine has a 12 month low of $40.82 and a 12 month high of $66.25. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 1.61.

BlackLine (NASDAQ:BL - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The technology company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01. The company had revenue of $172.03 million for the quarter, compared to analyst estimates of $170.87 million. BlackLine had a net margin of 13.05% and a return on equity of 15.95%. The company's revenue was up 7.2% on a year-over-year basis. 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 fiscal year.

Hedge Funds Weigh In On BlackLine

Several hedge funds have recently bought and sold shares of BL. Nuveen Asset Management LLC increased its holdings in BlackLine by 0.3% in the 4th quarter. Nuveen Asset Management LLC now owns 156,487 shares of the technology company's stock valued at $9,508,000 after buying an additional 469 shares during the period. Woodline Partners LP bought a new position in BlackLine in the 4th quarter valued at about $365,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in BlackLine by 32.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 157,535 shares of the technology company's stock valued at $9,572,000 after buying an additional 38,463 shares during the period. Public Employees Retirement System of Ohio bought a new position in BlackLine in the 4th quarter valued at about $4,361,000. Finally, GAMMA Investing LLC increased its holdings in BlackLine by 3,665.1% in the 1st quarter. GAMMA Investing LLC now owns 23,871 shares of the technology company's stock valued at $1,156,000 after buying an additional 23,237 shares during the period. 95.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on BL shares. Raymond James Financial raised shares of BlackLine from a "market perform" rating to an "outperform" rating and set a $67.00 price target on the stock in a research report on Tuesday, July 29th. DA Davidson reaffirmed a "neutral" rating and set a $56.00 price target on shares of BlackLine in a research report on Wednesday, August 6th. BMO Capital Markets raised their price target on shares of BlackLine from $60.00 to $63.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 6th. Zacks Research raised shares of BlackLine to a "strong sell" rating in a research report on Friday, August 8th. Finally, Citigroup reaffirmed a "buy" rating and set a $67.00 price target (up from $58.00) on shares of BlackLine in a research report on Wednesday, July 16th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $60.58.

About BlackLine

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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