BlackLine, Inc. (NASDAQ:BL) Insider Jimmy C. Duan Acquires 2,000 Shares of Stock (2024)

BlackLine, Inc. (NASDAQ:BL – Get Free Report) insider Jimmy C. Duan purchased 2,000 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The shares were purchased at an average price of $47.73 per share, for a total transaction of $95,460.00. Following the completion of the acquisition, the insider now directly owns 50,360 shares in the company, valued at approximately $2,403,682.80. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

BlackLine Price Performance

Shares of NASDAQ BL opened at $46.99 on Tuesday. BlackLine, Inc. has a fifty-two week low of $46.75 and a fifty-two week high of $69.31. The company has a market cap of $2.90 billion, a PE ratio of 204.30, a P/E/G ratio of 5.50 and a beta of 0.86. The company has a debt-to-equity ratio of 4.08, a quick ratio of 2.30 and a current ratio of 2.30. The business has a 50-day simple moving average of $58.59 and a two-hundred day simple moving average of $59.83.

BlackLine (NASDAQ:BL – Get Free Report) last released its earnings results on Tuesday, May 7th. The technology company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.10. BlackLine had a net margin of 2.30% and a return on equity of 9.07%. The company had revenue of $157.46 million during the quarter, compared to analysts’ expectations of $155.05 million. As a group, equities analysts expect that BlackLine, Inc. will post 1.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BL has been the topic of a number of analyst reports. Piper Sandler raised BlackLine from an “underweight” rating to a “neutral” rating and upped their target price for the company from $55.00 to $62.00 in a research note on Tuesday, April 23rd. JPMorgan Chase & Co. dropped their target price on shares of BlackLine from $55.00 to $52.00 and set an “underweight” rating on the stock in a report on Wednesday, February 14th. Citigroup dropped their target price on BlackLine from $66.00 to $63.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 23rd. Wolfe Research initiated coverage on BlackLine in a research report on Monday, March 18th. They issued a “peer perform” rating for the company. Finally, William Blair raised BlackLine to a “hold” rating in a research report on Tuesday, May 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, BlackLine currently has an average rating of “Hold” and a consensus target price of $64.56.

View Our Latest Stock Report on BlackLine

Hedge Funds Weigh In On BlackLine

Several hedge funds have recently made changes to their positions in the company. Meritage Group LP acquired a new position in BlackLine in the 3rd quarter worth approximately $59,530,000. Vanguard Group Inc. raised its holdings in shares of BlackLine by 9.5% during the first quarter. Vanguard Group Inc. now owns 7,380,961 shares of the technology company’s stock worth $476,662,000 after purchasing an additional 642,772 shares during the last quarter. UBS Group AG raised its holdings in shares of BlackLine by 855.5% during the third quarter. UBS Group AG now owns 657,004 shares of the technology company’s stock worth $36,444,000 after purchasing an additional 588,245 shares during the last quarter. Hawk Ridge Capital Management LP purchased a new stake in BlackLine in the third quarter valued at $21,853,000. Finally, Norges Bank acquired a new stake in BlackLine during the 4th quarter worth about $16,927,000. 95.13% of the stock is 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 individual transactions; task management to create and manage processes and task lists; and financial reporting analytics that enables analysis and validation of financial data.

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