BlackLine, Inc. (NASDAQ:BL) CEO Therese Tucker sold 340,000 shares of the company’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $40.75, for a total transaction of $13,855,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
NASDAQ BL traded up $0.42 during trading hours on Thursday, reaching $40.05. 269,698 shares of the company traded hands, compared to its average volume of 570,099. BlackLine, Inc. has a 12 month low of $28.79 and a 12 month high of $45.19. The company has a market capitalization of $2,096.04, a price-to-earnings ratio of -108.24 and a beta of -0.41.
BlackLine (NASDAQ:BL) last issued its earnings results on Thursday, February 15th. The technology company reported $0.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.12. The company had revenue of $50.23 million for the quarter, compared to analysts’ expectations of $47.69 million. BlackLine had a negative net margin of 21.50% and a negative return on equity of 6.53%. The firm’s revenue was up 42.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.08) earnings per share. research analysts predict that BlackLine, Inc. will post -0.28 EPS for the current fiscal year.
Several large investors have recently modified their holdings of BL. New York State Common Retirement Fund increased its holdings in shares of BlackLine by 483.5% in the 3rd quarter. New York State Common Retirement Fund now owns 77,017 shares of the technology company’s stock worth $2,628,000 after acquiring an additional 63,817 shares during the period. Rhumbline Advisers increased its holdings in shares of BlackLine by 20.3% in the 3rd quarter. Rhumbline Advisers now owns 15,254 shares of the technology company’s stock worth $520,000 after acquiring an additional 2,570 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of BlackLine by 28.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 54,803 shares of the technology company’s stock worth $1,870,000 after acquiring an additional 12,121 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of BlackLine by 136.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 204,938 shares of the technology company’s stock worth $6,992,000 after acquiring an additional 118,255 shares during the period. Finally, American International Group Inc. increased its holdings in shares of BlackLine by 53.5% in the 3rd quarter. American International Group Inc. now owns 10,455 shares of the technology company’s stock worth $357,000 after acquiring an additional 3,646 shares during the period. 80.94% of the stock is currently owned by institutional investors.
BL has been the subject of several analyst reports. Robert W. Baird restated a “buy” rating on shares of BlackLine in a research note on Friday, February 16th. KeyCorp restated a “buy” rating and issued a $46.00 target price on shares of BlackLine in a research note on Thursday, February 15th. BidaskClub upgraded shares of BlackLine from a “hold” rating to a “buy” rating in a research note on Saturday, March 3rd. SunTrust Banks downgraded shares of BlackLine from a “buy” rating to a “hold” rating and set a $43.00 price objective on the stock. in a research note on Monday, March 19th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded shares of BlackLine from a “hold” rating to a “sell” rating in a research note on Thursday, February 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. BlackLine has a consensus rating of “Hold” and an average price target of $39.12.
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BlackLine, Inc provides financial accounting close solutions delivered as a Software as a Service in the United States and internationally. Its solutions enables its customers to address various aspects of their financial closing process, including account reconciliations, variance analysis of account balances, and journal entry capabilities, as well as a range of data matching capabilities.
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