Blackline Inc (NYSE:BL) CEO Therese Tucker sold 20,000 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $29.12, for a total value of $582,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Blackline Inc (NYSE BL) traded up 1.54% during mid-day trading on Friday, hitting $29.65. The company’s stock had a trading volume of 224,936 shares. The stock’s 50 day moving average price is $34.47 and its 200 day moving average price is $32.23. Blackline Inc has a 52-week low of $21.66 and a 52-week high of $40.28. The company’s market cap is $1.56 billion.
Blackline (NYSE:BL) last posted its quarterly earnings results on Thursday, August 3rd. The technology company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.12. Blackline had a negative net margin of 23.91% and a negative return on equity of 13.96%. The company had revenue of $42.30 million for the quarter, compared to analyst estimates of $41.45 million. Blackline’s revenue was up 45.9% on a year-over-year basis. Equities analysts forecast that Blackline Inc will post ($0.17) EPS for the current year.
Several analysts have issued reports on BL shares. SunTrust Banks, Inc. started coverage on Blackline in a research note on Monday, June 26th. They issued a “buy” rating and a $43.00 target price on the stock. Zacks Investment Research upgraded Blackline from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research note on Wednesday, August 9th. ValuEngine upgraded Blackline from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. JMP Securities started coverage on Blackline in a research note on Monday, June 26th. They issued a “market perform” rating on the stock. Finally, William Blair restated an “outperform” rating on shares of Blackline in a research note on Monday, May 8th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Blackline has a consensus rating of “Buy” and an average target price of $34.78.
Hedge funds and other institutional investors have recently modified their holdings of the company. Fortaleza Asset Management Inc. purchased a new position in shares of Blackline during the second quarter worth $112,000. Royal Bank of Canada increased its position in shares of Blackline by 308.6% in the second quarter. Royal Bank of Canada now owns 3,955 shares of the technology company’s stock worth $142,000 after buying an additional 2,987 shares during the period. Nationwide Fund Advisors increased its position in shares of Blackline by 26.7% in the first quarter. Nationwide Fund Advisors now owns 5,776 shares of the technology company’s stock worth $172,000 after buying an additional 1,217 shares during the period. American International Group Inc. purchased a new position in shares of Blackline during the first quarter worth $173,000. Finally, Nicholas Company Inc. purchased a new position in shares of Blackline during the second quarter worth $290,000.
Blackline Company Profile
BlackLine, Inc is a holding company. The Company provides cloud-based software platform that is designed to automate and streamline accounting and finance operations. Its platform supports accounting processes, such as the financial close, account reconciliation, intercompany accounting and controls assurance.
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