Mark Woodhams Sells 9,088 Shares of BlackLine, Inc. (NASDAQ:BL) Stock

BlackLine, Inc. (NASDAQ:BL) has seen a significant stock transaction as Mark Woodhams, the Chief Revenue Officer (CRO), sold 9,088 shares of the company on February 21st. The shares were sold at an average price of $49.67 each, resulting in a total transaction value of approximately $451,400.96. Following this sale, Woodhams now directly holds 65,414 shares of BlackLine, valued at about $3,249,113.38. This transaction marks a 12.20% reduction in his ownership of BlackLine shares. The details of this transaction have been filed with the Securities and Exchange Commission, making them available to the public.

In addition to this recent sale, Mark Woodhams conducted another share transaction on December 12th, where he sold 24,408 shares at an average price of $64.32, generating over $1.5 million from that sale.

BlackLine Stock Performance

On a recent Monday, shares of BlackLine traded slightly up by $0.01, reaching $49.11. The trading volume that day was 816,751 shares, which is higher than the average volume of 785,621 shares. Over the last 50 days, the stock has shown a moving average price of $59.46, while the 200-day average stands at $57.04. BlackLine, Inc. has a market capitalization of around $3.07 billion, a price-to-earnings (P/E) ratio of 33.87, and a price-to-earnings-growth (PEG) ratio of 10.50. Financially, BlackLine has a good liquidity position, with a quick ratio of 2.69 and a current ratio of 2.59, but a debt-to-equity ratio of 2.00. The stock has fluctuated between a low of $43.37 and a high of $69.31 over the past year.

Recent Earnings Report

BlackLine (NASDAQ:BL) announced its latest quarterly earnings on February 11th. The company reported earnings per share (EPS) of $0.21, which fell short of analysts' consensus estimate of $0.50 by $0.29. In terms of profitability, BlackLine demonstrated a net margin of 24.67% and a return on equity of 21.63%. Analysts predict that the company will achieve an EPS of $0.93 for the current year.

Institutional Investor Activity

Several hedge funds and institutional investors have been actively adjusting their holdings in BlackLine. For example, SBI Securities Co. Ltd. recently acquired a new position worth $31,000 in the company. Global Retirement Partners LLC significantly increased its holdings by 568.4%, resulting in ownership of 528 shares valued at $32,000 after an additional purchase. Quadrant Capital Group LLC also raised its stake by 243.5%, now owning 584 shares worth $35,000. Other notable institutional investors include GAMMA Investing LLC and Headlands Technologies LLC, which have increased their holdings as well. Currently, institutional investors control approximately 95.13% of BlackLine's stock.

Analyst Ratings Updates

Recent reports from various brokerages have modified their ratings for BlackLine shares. Truist Financial reduced its price target from $60.00 to $55.00 while maintaining a "hold" rating. Morgan Stanley raised its target from $70.00 to $80.00 with an "overweight" rating. BMO Capital Markets lowered their price objective from $68.00 to $60.00 and maintained a "market perform" rating. Other brokerages such as Piper Sandler and Citigroup have also adjusted their price targets and ratings accordingly. As of now, BlackLine has received a mix of ratings, with two analysts suggesting a sell, four rating it a hold, and seven indicating a buy, leading to an average rating of "Hold" with a consensus price target of $66.40.

About BlackLine, Inc.

BlackLine, Inc. operates a cloud-based software platform aimed at improving accounting and finance operations for businesses of all sizes. Their platform supports key accounting processes including financial close, account reconciliations, and intercompany accounting, which are essential in ensuring accurate financial reporting.

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