BlackLine, Inc. (NASDAQ:BL) Short Interest Update

BlackLine, Inc. (NASDAQ:BLGet Free Report) was the target of a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 4,330,000 shares, a growth of 61.0% from the May 15th total of 2,690,000 shares. Approximately 8.6% of the company’s shares are short sold. Based on an average daily volume of 1,130,000 shares, the short-interest ratio is presently 3.8 days.

Wall Street Analyst Weigh In

Several brokerages have commented on BL. Piper Sandler upgraded BlackLine from an “underweight” rating to a “neutral” rating and increased their target price for the company from $55.00 to $62.00 in a research note on Tuesday, April 23rd. Robert W. Baird increased their target price on BlackLine from $61.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. William Blair upgraded BlackLine to a “hold” rating in a research note on Tuesday, May 7th. Wolfe Research started coverage on BlackLine in a research note on Monday, March 18th. They set a “peer perform” rating on the stock. Finally, BMO Capital Markets raised their price target on BlackLine from $65.00 to $67.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 8th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $64.56.

Get Our Latest Analysis on BL

BlackLine Trading Up 0.2 %

Shares of NASDAQ:BL traded up $0.10 during trading hours on Friday, hitting $45.52. 493,818 shares of the company’s stock traded hands, compared to its average volume of 1,338,760. The firm has a market capitalization of $2.81 billion, a P/E ratio of 197.91, a price-to-earnings-growth ratio of 5.24 and a beta of 0.86. The company has a debt-to-equity ratio of 4.08, a current ratio of 2.30 and a quick ratio of 2.30. BlackLine has a 1 year low of $44.59 and a 1 year high of $69.31. The business has a fifty day moving average price of $55.53 and a 200-day moving average price of $59.12.

BlackLine (NASDAQ:BLGet Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.10. The firm had revenue of $157.46 million for the quarter, compared to analyst estimates of $155.05 million. BlackLine had a net margin of 2.30% and a return on equity of 9.07%. Equities analysts expect that BlackLine will post 1.1 earnings per share for the current year.

Insider Buying and Selling at BlackLine

In related news, CFO Mark Partin sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $47.38, for a total value of $2,369,000.00. Following the sale, the chief financial officer now owns 229,341 shares in the company, valued at approximately $10,866,176.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other BlackLine news, CRO Mark Woodhams sold 2,877 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $58.00, for a total transaction of $166,866.00. Following the sale, the executive now directly owns 104,682 shares in the company, valued at approximately $6,071,556. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Mark Partin sold 50,000 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $47.38, for a total value of $2,369,000.00. Following the sale, the chief financial officer now owns 229,341 shares in the company, valued at $10,866,176.58. The disclosure for this sale can be found here. 9.93% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BlackLine

A number of large investors have recently made changes to their positions in the stock. CWM LLC boosted its holdings in BlackLine by 94.8% in the fourth quarter. CWM LLC now owns 452 shares of the technology company’s stock valued at $28,000 after purchasing an additional 220 shares during the last quarter. YHB Investment Advisors Inc. purchased a new stake in BlackLine in the first quarter valued at $33,000. EntryPoint Capital LLC purchased a new stake in BlackLine in the first quarter valued at $36,000. CVA Family Office LLC purchased a new stake in BlackLine in the fourth quarter valued at $38,000. Finally, Federated Hermes Inc. boosted its holdings in BlackLine by 505.2% in the third quarter. Federated Hermes Inc. now owns 926 shares of the technology company’s stock valued at $51,000 after purchasing an additional 773 shares during the last quarter. 95.13% of the stock is owned by hedge funds and other institutional investors.

BlackLine Company Profile

(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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