Thomas Unterman Sells 500 Shares of BlackLine, Inc. (NASDAQ:BL) Stock

BlackLine, Inc. (NASDAQ:BLGet Rating) Director Thomas Unterman sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $73.70, for a total value of $36,850.00. Following the transaction, the director now directly owns 49,668 shares in the company, valued at $3,660,531.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

  • On Monday, May 2nd, Thomas Unterman sold 500 shares of BlackLine stock. The stock was sold at an average price of $66.82, for a total value of $33,410.00.
  • On Friday, April 1st, Thomas Unterman sold 500 shares of BlackLine stock. The stock was sold at an average price of $73.35, for a total value of $36,675.00.

NASDAQ:BL traded down $0.49 during trading on Wednesday, reaching $72.73. The company’s stock had a trading volume of 663,053 shares, compared to its average volume of 697,326. The company has a debt-to-equity ratio of 20.88, a quick ratio of 3.45 and a current ratio of 3.45. The firm has a market cap of $4.31 billion, a price-to-earnings ratio of -49.48 and a beta of 0.91. BlackLine, Inc. has a 12 month low of $49.66 and a 12 month high of $135.00. The firm has a 50 day moving average of $68.02 and a 200-day moving average of $83.36.

BlackLine (NASDAQ:BLGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The technology company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.09. The company had revenue of $120.24 million during the quarter, compared to the consensus estimate of $119.57 million. BlackLine had a negative return on equity of 12.37% and a negative net margin of 19.28%. The firm’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.14) EPS. Equities research analysts forecast that BlackLine, Inc. will post -0.86 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of BL. Echo Street Capital Management LLC boosted its stake in BlackLine by 98.1% in the 1st quarter. Echo Street Capital Management LLC now owns 1,900,029 shares of the technology company’s stock worth $139,120,000 after purchasing an additional 941,030 shares during the period. Norges Bank bought a new position in BlackLine in the 4th quarter worth about $47,343,000. Brown Advisory Inc. boosted its stake in BlackLine by 49.5% in the 1st quarter. Brown Advisory Inc. now owns 1,313,280 shares of the technology company’s stock worth $96,354,000 after purchasing an additional 434,655 shares during the period. FMR LLC boosted its stake in BlackLine by 47.1% in 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 during the period. Finally, Champlain Investment Partners LLC boosted its stake in BlackLine by 33.5% in the 1st quarter. Champlain Investment Partners LLC now owns 1,386,380 shares of the technology company’s stock worth $101,511,000 after purchasing an additional 347,980 shares during the period.

A number of equities analysts have recently weighed in on BL shares. Zacks Investment Research raised BlackLine from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Thursday, May 12th. Robert W. Baird lowered their price target on BlackLine from $105.00 to $95.00 in a research report on Friday, May 6th. Piper Sandler lowered their price target on BlackLine from $130.00 to $112.00 and set an “overweight” rating for the company in a research report on Friday, February 11th. JMP Securities lowered their price target on BlackLine from $145.00 to $112.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 20th. Finally, BTIG Research lowered their price target on BlackLine from $115.00 to $95.00 in a research report on Friday, May 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $96.22.

About BlackLine (Get Rating)

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 high volumes of individual transactions; and task management to create and manage processes and task lists.

See Also

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

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