Mark Woodhams Sells 24,408 Shares of BlackLine, Inc. (NASDAQ:BL) Stock

BlackLine, Inc. (NASDAQ:BL) CRO Mark Woodhams sold 24,408 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $64.32, for a total transaction of $1,569,922.56. Following the completion of the transaction, the executive now directly owns 72,920 shares of the company’s stock, valued at $4,690,214.40. This represents a 25.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

BlackLine Stock Performance

BlackLine stock traded up $1.13 during midday trading on Monday, hitting $64.99. The company’s stock had a trading volume of 255,027 shares, compared to its average volume of 857,876. The company has a 50-day moving average price of $59.48 and a two-hundred day moving average price of $52.54. BlackLine, Inc. has a 1-year low of $43.37 and a 1-year high of $69.31. The company has a market cap of $4.06 billion, a price-to-earnings ratio of 65.70, a PEG ratio of 15.18 and a beta of 0.90. The company has a debt-to-equity ratio of 2.42, a current ratio of 2.69 and a quick ratio of 2.69.

Hedge Funds Weigh In On BlackLine

A number of hedge funds have recently added to or reduced their stakes in the stock. 272 Capital LP lifted its holdings in shares of BlackLine by 30.8% during the 3rd quarter. 272 Capital LP now owns 68,437 shares of the technology company’s stock worth $3,774,000 after acquiring an additional 16,107 shares during the period. Tidal Investments LLC raised its position in BlackLine by 1.6% during the third quarter. Tidal Investments LLC now owns 13,539 shares of the technology company’s stock valued at $747,000 after purchasing an additional 219 shares in the last quarter. Geode Capital Management LLC lifted its stake in BlackLine by 0.3% during the third quarter. Geode Capital Management LLC now owns 1,282,017 shares of the technology company’s stock worth $70,704,000 after purchasing an additional 3,498 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of BlackLine in the 3rd quarter valued at $713,000. Finally, Pier Capital LLC increased its stake in shares of BlackLine by 1.3% in the 3rd quarter. Pier Capital LLC now owns 151,726 shares of the technology company’s stock valued at $8,366,000 after purchasing an additional 1,909 shares during the last quarter. Institutional investors own 95.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Morgan Stanley increased their price target on shares of BlackLine from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Piper Sandler reissued a “neutral” rating and set a $60.00 price target on shares of BlackLine in a research report on Wednesday, November 20th. JMP Securities raised their price objective on BlackLine from $81.00 to $86.00 and gave the company a “market outperform” rating in a research report on Friday, November 22nd. Truist Financial boosted their target price on BlackLine from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. raised their price target on BlackLine from $47.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $66.00.

BlackLine Company Profile

BlackLine, Inc provides cloud-based solutions to automate and streamline accounting and finance operations worldwide. It offers financial close management solutions, such as account reconciliations that provides a centralized workspace for users to collaborate on account reconciliations; transaction matching that analyzes and reconciles individual transactions; task management to create and manage processes and task lists; and financial reporting analytics that enables analysis and validation of financial data.