BlackLine, Inc. (NASDAQ:BL) Stock Position Lessened by Blair William & Co. IL

Blair William & Co. IL lowered its stake in BlackLine, Inc. (NASDAQ:BL) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 82,238 shares of the technology company’s stock after selling 2,602 shares during the quarter. Blair William & Co. IL owned about 0.13% of BlackLine worth $4,997,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new stake in BlackLine in the fourth quarter worth about $31,000. Global Retirement Partners LLC raised its holdings in shares of BlackLine by 568.4% in the 4th quarter. Global Retirement Partners LLC now owns 528 shares of the technology company’s stock worth $32,000 after purchasing an additional 449 shares in the last quarter. GAMMA Investing LLC lifted its stake in BlackLine by 41.2% during the fourth quarter. GAMMA Investing LLC now owns 634 shares of the technology company’s stock valued at $39,000 after purchasing an additional 185 shares during the last quarter. Asset Management One Co. Ltd. boosted its holdings in BlackLine by 19.8% during the fourth quarter. Asset Management One Co. Ltd. now owns 1,266 shares of the technology company’s stock worth $77,000 after buying an additional 209 shares in the last quarter. Finally, KBC Group NV grew its position in BlackLine by 44.0% in the fourth quarter. KBC Group NV now owns 2,180 shares of the technology company’s stock worth $132,000 after buying an additional 666 shares during the last quarter. Institutional investors own 95.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BL shares. JMP Securities reaffirmed a “market outperform” rating and issued a $86.00 price objective on shares of BlackLine in a research note on Wednesday, January 15th. Piper Sandler dropped their price target on BlackLine from $60.00 to $58.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 12th. BMO Capital Markets reduced their price objective on BlackLine from $68.00 to $60.00 and set a “market perform” rating for the company in a research note on Wednesday, February 12th. Truist Financial lowered their target price on BlackLine from $60.00 to $55.00 and set a “hold” rating on the stock in a research note on Wednesday, February 12th. Finally, Citigroup reduced their price target on shares of BlackLine from $73.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $66.40.

BlackLine Price Performance

Shares of BL opened at $48.81 on Monday. The company has a 50 day moving average of $54.08 and a 200-day moving average of $56.87. The company has a quick ratio of 2.69, a current ratio of 2.59 and a debt-to-equity ratio of 2.00. The stock has a market capitalization of $3.07 billion, a P/E ratio of 33.66, a P/E/G ratio of 10.80 and a beta of 1.03. BlackLine, Inc. has a twelve month low of $43.37 and a twelve month high of $69.09.

BlackLine (NASDAQ:BL) last issued its quarterly earnings results 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 24.67% and a return on equity of 21.63%. As a group, equities research analysts forecast that BlackLine, Inc. will post 0.9 EPS for the current fiscal year.

Insider Activity at BlackLine

In other BlackLine news, CRO Mark Woodhams sold 9,088 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $49.67, for a total transaction of $451,400.96. Following the transaction, the executive now owns 65,414 shares in the company, valued at $3,249,113.38. This trade represents a 12.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 9.93% of the stock is owned by company insiders.

About BlackLine

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.