Insider Selling: Blackline Inc (BL) CFO Sells $1,229,352.85 in Stock

Blackline Inc (NASDAQ:BL) CFO Mark Partin sold 25,135 shares of the firm’s stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $48.91, for a total value of $1,229,352.85. Following the sale, the chief financial officer now directly owns 52,407 shares of the company’s stock, valued at $2,563,226.37. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Shares of Blackline stock opened at $47.64 on Monday. Blackline Inc has a 12 month low of $28.79 and a 12 month high of $50.31.

Blackline (NASDAQ:BL) last announced its earnings results on Thursday, August 2nd. The technology company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. Blackline had a negative return on equity of 7.59% and a negative net margin of 17.03%. The company had revenue of $55.45 million during the quarter, compared to analysts’ expectations of $53.66 million. During the same period last year, the business posted ($0.03) EPS. Blackline’s revenue for the quarter was up 32.1% on a year-over-year basis. research analysts anticipate that Blackline Inc will post -0.31 earnings per share for the current fiscal year.

BL has been the subject of a number of research analyst reports. Zacks Investment Research cut Blackline from a “hold” rating to a “sell” rating in a report on Wednesday, August 8th. KeyCorp restated a “buy” rating and set a $52.00 target price on shares of Blackline in a report on Thursday, May 3rd. BidaskClub upgraded Blackline from a “hold” rating to a “buy” rating in a report on Thursday, April 19th. Finally, ValuEngine upgraded Blackline from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Blackline presently has an average rating of “Hold” and a consensus target price of $41.80.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Envestnet Asset Management Inc. boosted its stake in shares of Blackline by 28.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 17,160 shares of the technology company’s stock valued at $745,000 after buying an additional 3,842 shares during the period. Philadelphia Trust Co. purchased a new position in shares of Blackline in the 2nd quarter valued at about $2,365,000. Citadel Advisors LLC boosted its stake in shares of Blackline by 656.6% in the 2nd quarter. Citadel Advisors LLC now owns 54,862 shares of the technology company’s stock valued at $2,382,000 after buying an additional 47,611 shares during the period. Artisan Partners Limited Partnership boosted its stake in shares of Blackline by 36.7% in the 2nd quarter. Artisan Partners Limited Partnership now owns 1,140,378 shares of the technology company’s stock valued at $49,527,000 after buying an additional 306,087 shares during the period. Finally, Meadow Creek Investment Management LLC boosted its stake in shares of Blackline by 6.4% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 27,434 shares of the technology company’s stock valued at $1,191,000 after buying an additional 1,650 shares during the period. Institutional investors and hedge funds own 83.17% of the company’s stock.

About Blackline

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

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