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Insider Buying: Co-CEO Owen Ryan Acquires Shares of BlackLine Inc (BL)

On June 11, 2024, Owen Ryan, Co-Chief Executive Officer of BlackLine Inc (NASDAQ:BL), purchased 7,552 shares of the company, as reported in a recent SEC Filing. Following this transaction, the insider now owns a total of 153,500 shares of BlackLine Inc.

BlackLine Inc is a software company that provides financial automation software solutions designed to automate and control the entire financial close process. The company's solutions enable customers to improve their operational efficiency, reliability, and control over their financial reporting processes.

Over the past year, Owen Ryan has engaged in multiple transactions involving the company's stock, purchasing a total of 10,552 shares and selling none. This recent acquisition aligns with a broader pattern of insider activity at BlackLine Inc, which has seen 3 insider buys and 15 insider sells over the past year.

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Shares of BlackLine Inc were priced at $46.11 on the day of the transaction, giving the company a market cap of approximately $2.85 billion. The price-earnings ratio of the stock stands at 40.76, which is above the industry median of 26.35.

The GF Value of BlackLine Inc is estimated at $69.34, suggesting that the stock is currently undervalued with a price-to-GF-Value ratio of 0.66. This valuation indicates that the stock might be a possible value trap, and potential investors should think twice before making an investment decision.

Insider Buying: Co-CEO Owen Ryan Acquires Shares of BlackLine Inc (BL)
Insider Buying: Co-CEO Owen Ryan Acquires Shares of BlackLine Inc (BL)
Insider Buying: Co-CEO Owen Ryan Acquires Shares of BlackLine Inc (BL)
Insider Buying: Co-CEO Owen Ryan Acquires Shares of BlackLine Inc (BL)

The GF Value is calculated based on historical multiples such as the price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, adjusted by a GuruFocus factor which considers past returns and growth, and supplemented by future business performance estimates from analysts.

This insider purchase could be a signal to investors about the perceived value of the stock at current prices, considering the insider's increasing stake in the company.

This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.

This article first appeared on GuruFocus.