Baillie Gifford & Co. Has $18.10 Million Position in BlackLine, Inc. (NASDAQ:BL)

Baillie Gifford & Co. cut its holdings in BlackLine, Inc. (NASDAQ:BL) by 25.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 297,953 shares of the technology company’s stock after selling 100,843 shares during the period. Baillie Gifford & Co. owned approximately 0.48% of BlackLine worth $18,104,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. GAMMA Investing LLC increased its stake in BlackLine by 41.2% during the 4th quarter. GAMMA Investing LLC now owns 634 shares of the technology company’s stock valued at $39,000 after purchasing an additional 185 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of BlackLine by 0.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 25,100 shares of the technology company’s stock worth $1,525,000 after acquiring an additional 200 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of BlackLine by 19.8% in the 4th quarter. Asset Management One Co. Ltd. now owns 1,266 shares of the technology company’s stock worth $77,000 after acquiring an additional 209 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of BlackLine by 1.6% in the 3rd quarter. Tidal Investments LLC now owns 13,539 shares of the technology company’s stock worth $747,000 after acquiring an additional 219 shares during the last quarter. Finally, Covestor Ltd lifted its position in BlackLine by 31.9% in the 3rd quarter. Covestor Ltd now owns 1,392 shares of the technology company’s stock valued at $77,000 after acquiring an additional 337 shares in the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BL has been the subject of a number of recent research reports. StockNews.com raised BlackLine from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Piper Sandler decreased their price target on BlackLine from $60.00 to $58.00 and set an “underweight” rating for the company in a report on Wednesday, February 12th. JPMorgan Chase & Co. raised their price objective on BlackLine from $47.00 to $50.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. JMP Securities reiterated a “market outperform” rating and issued a $86.00 target price on shares of BlackLine in a research note on Wednesday, January 15th. Finally, Bank of America upgraded shares of BlackLine from an “underperform” rating to a “buy” rating and increased their target price for the company from $50.00 to $75.00 in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $66.40.

Insider Transactions at BlackLine

In related news, CRO Mark Woodhams sold 24,408 shares of BlackLine stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $64.32, for a total value of $1,569,922.56. Following the completion of the transaction, the executive now directly owns 72,920 shares in the company, valued at approximately $4,690,214.40. The trade was a 25.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.93% of the stock is owned by corporate insiders.

BlackLine Stock Down 1.7 %

BL opened at $51.37 on Tuesday. BlackLine, Inc. has a twelve month low of $43.37 and a twelve month high of $69.31. The company’s 50-day moving average price is $60.91 and its two-hundred day moving average price is $56.93. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of 52.42, a PEG ratio of 9.14 and a beta of 0.92. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 2.42.

BlackLine (NASDAQ:BL) last posted its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.29). BlackLine had a net margin of 19.83% and a return on equity of 31.02%. As a group, equities analysts expect that BlackLine, Inc. will post 1 earnings per share for the current year.

BlackLine Profile

BlackLine, Inc operates a cloud-based software platform which is designed to transform accounting and finance operations for organizations of all types and sizes. Its scalable platform supports critical accounting processes such as the financial close, account reconciliations, intercompany accounting, and controls assurance.