BlackLine (BL) Scheduled to Post Earnings on Tuesday

BlackLine (NASDAQ:BLGet Free Report) is scheduled to be posting its quarterly earnings results after the market closes on Tuesday, February 13th. Analysts expect BlackLine to post earnings of $0.55 per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

BlackLine Price Performance

BL stock opened at $61.94 on Friday. BlackLine has a one year low of $47.26 and a one year high of $77.00. The firm has a 50-day moving average of $60.45 and a two-hundred day moving average of $56.54. The firm has a market capitalization of $3.80 billion, a PE ratio of -258.08, a P/E/G ratio of 1.50 and a beta of 0.87. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 5.28.

Analyst Ratings Changes

BL has been the topic of a number of research reports. Piper Sandler downgraded BlackLine from a “neutral” rating to an “underweight” rating and upped their target price for the company from $53.00 to $60.00 in a report on Tuesday, January 2nd. The Goldman Sachs Group boosted their price target on shares of BlackLine from $49.00 to $54.00 and gave the company a “sell” rating in a report on Tuesday, January 23rd. JMP Securities reiterated a “market outperform” rating and set a $81.00 price objective on shares of BlackLine in a report on Monday, December 18th. Finally, Robert W. Baird reduced their price objective on BlackLine from $68.00 to $65.00 and set an “outperform” rating for the company in a research report on Thursday, January 4th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $61.50.

Read Our Latest Research Report on BlackLine

Insider Buying and Selling at BlackLine

In other news, Director Thomas Unterman sold 750 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $60.00, for a total value of $45,000.00. Following the sale, the director now owns 51,470 shares in the company, valued at $3,088,200. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Thomas Unterman sold 750 shares of BlackLine stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $60.00, for a total transaction of $45,000.00. Following the sale, the director now directly owns 51,470 shares of the company’s stock, valued at $3,088,200. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CRO Mark Woodhams sold 4,072 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $62.67, for a total value of $255,192.24. Following the transaction, the executive now owns 88,542 shares in the company, valued at $5,548,927.14. The disclosure for this sale can be found here. Insiders have sold 6,322 shares of company stock valued at $390,627 in the last 90 days. 9.93% of the stock is currently owned by insiders.

Institutional Trading of BlackLine

Institutional investors have recently made changes to their positions in the business. Advisory Services Network LLC acquired a new position in BlackLine in the fourth quarter valued at about $99,000. Dimensional Fund Advisors LP boosted its holdings in BlackLine by 64.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 149,669 shares of the technology company’s stock valued at $9,348,000 after acquiring an additional 58,433 shares during the last quarter. American Century Companies Inc. acquired a new stake in BlackLine in the third quarter worth about $464,000. Deutsche Bank AG raised its holdings in BlackLine by 12.1% during the 3rd quarter. Deutsche Bank AG now owns 29,486 shares of the technology company’s stock worth $1,636,000 after purchasing an additional 3,181 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in BlackLine by 23.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 28,197 shares of the technology company’s stock valued at $1,564,000 after purchasing an additional 5,331 shares during the period. 95.13% of the stock is currently owned by institutional investors and hedge funds.

About BlackLine

(Get Free Report)

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.

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Earnings History for BlackLine (NASDAQ:BL)

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