Insider Selling: Blackline Inc (NASDAQ:BL) Insider Sells 7,765 Shares of Stock

Blackline Inc (NASDAQ:BL) insider Mario Spanicciati sold 7,765 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $54.04, for a total value of $419,620.60. Following the sale, the insider now directly owns 19,512 shares of the company’s stock, valued at $1,054,428.48. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Mario Spanicciati also recently made the following trade(s):

  • On Wednesday, November 27th, Mario Spanicciati sold 8,046 shares of Blackline stock. The stock was sold at an average price of $54.03, for a total value of $434,725.38.

Shares of BL stock traded down $1.37 on Monday, reaching $52.45. The company had a trading volume of 549,124 shares, compared to its average volume of 510,842. The company has a current ratio of 3.87, a quick ratio of 3.87 and a debt-to-equity ratio of 0.99. The stock has a market cap of $2.99 billion, a PE ratio of -201.73 and a beta of 0.81. The company has a 50-day moving average of $49.41 and a 200-day moving average of $50.01. Blackline Inc has a 12 month low of $36.85 and a 12 month high of $56.29.

Blackline (NASDAQ:BL) last announced its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.09. The company had revenue of $74.93 million during the quarter, compared to analysts’ expectations of $72.33 million. Blackline had a negative return on equity of 4.36% and a negative net margin of 11.36%. Blackline’s revenue was up 27.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.07 EPS. Sell-side analysts anticipate that Blackline Inc will post -0.21 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in BL. Janus Henderson Group PLC increased its stake in shares of Blackline by 114.8% in the 2nd quarter. Janus Henderson Group PLC now owns 788,662 shares of the technology company’s stock valued at $42,201,000 after acquiring an additional 421,566 shares during the last quarter. Millennium Management LLC increased its stake in Blackline by 283.8% during the 3rd quarter. Millennium Management LLC now owns 563,015 shares of the technology company’s stock worth $26,917,000 after purchasing an additional 416,326 shares in the last quarter. FMR LLC increased its stake in Blackline by 47.1% during the 1st quarter. FMR LLC now owns 1,130,651 shares of the technology company’s stock worth $52,372,000 after purchasing an additional 361,839 shares in the last quarter. BlackRock Inc. increased its stake in Blackline by 12.6% during the 2nd quarter. BlackRock Inc. now owns 3,119,985 shares of the technology company’s stock worth $166,949,000 after purchasing an additional 349,712 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in Blackline by 311.3% during the 2nd quarter. First Trust Advisors LP now owns 431,041 shares of the technology company’s stock worth $23,065,000 after purchasing an additional 326,254 shares in the last quarter. 91.37% of the stock is owned by institutional investors.

Several analysts have weighed in on BL shares. Zacks Investment Research cut Blackline from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. ValuEngine cut Blackline from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. TheStreet raised Blackline from a “d+” rating to a “c” rating in a report on Monday, October 28th. Piper Jaffray Companies started coverage on Blackline in a report on Monday, November 25th. They set a “neutral” rating and a $60.00 price objective for the company. Finally, First Analysis started coverage on Blackline in a report on Friday, October 4th. They set an “outperform” rating and a $55.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $54.00.

Blackline Company Profile

BlackLine, Inc provides financial accounting close solutions delivered primarily as Software as a Service in the United States and internationally. Its solutions enable its customers to address various aspects of their financial closing process, including account reconciliations, variance analysis of account balances, journal entry capabilities, and range of data matching capabilities.

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Insider Buying and Selling by Quarter for Blackline (NASDAQ:BL)

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