Blair William & Co. IL Has $5 Million Stake in BlackLine, Inc. (NASDAQ:BL)

Blair William & Co. IL reduced its position in BlackLine, Inc. (NASDAQ:BL) by 3.1% during the fourth quarter, HoldingsChannel reports. The firm owned 82,238 shares of the technology company’s stock after selling 2,602 shares during the period. Blair William & Co. IL’s holdings in BlackLine were worth $4,997,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in BlackLine by 4.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 495,222 shares of the technology company’s stock valued at $27,307,000 after buying an additional 20,027 shares in the last quarter. FMR LLC increased its holdings in shares of BlackLine by 1.3% during the third quarter. FMR LLC now owns 5,153,275 shares of the technology company’s stock valued at $284,152,000 after acquiring an additional 64,435 shares in the last quarter. Glenmede Trust Co. NA increased its holdings in shares of BlackLine by 21.5% during the third quarter. Glenmede Trust Co. NA now owns 17,801 shares of the technology company’s stock valued at $982,000 after acquiring an additional 3,151 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of BlackLine by 0.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 119,072 shares of the technology company’s stock worth $6,566,000 after purchasing an additional 753 shares in the last quarter. Finally, Atom Investors LP acquired a new stake in BlackLine in the 3rd quarter valued at $285,000. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BL has been the subject of a number of analyst reports. Bank of America upgraded BlackLine from an “underperform” rating to a “buy” rating and lifted their price target for the company from $50.00 to $75.00 in a research note on Thursday, January 30th. Piper Sandler cut their target price on BlackLine from $60.00 to $58.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 12th. JMP Securities reissued a “market outperform” rating and issued a $86.00 price target on shares of BlackLine in a research report on Wednesday, January 15th. BMO Capital Markets dropped their price objective on BlackLine from $68.00 to $60.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 12th. Finally, Truist Financial reduced their target price on shares of BlackLine from $60.00 to $55.00 and set a “hold” rating for the company in a research note on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $66.40.

Insider Activity

In related news, CRO Mark Woodhams sold 9,088 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $49.67, for a total transaction of $451,400.96. Following the sale, the executive now owns 65,414 shares of the company’s stock, valued at $3,249,113.38. This represents a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 9.93% of the company’s stock.

BlackLine Trading Down 2.7 %

BL opened at $48.81 on Monday. The company has a quick ratio of 2.69, a current ratio of 2.59 and a debt-to-equity ratio of 2.00. BlackLine, Inc. has a 52 week low of $43.37 and a 52 week high of $69.09. The stock has a market cap of $3.07 billion, a PE ratio of 33.66, a PEG ratio of 10.80 and a beta of 1.03. The business has a 50 day moving average of $54.08 and a 200-day moving average of $56.87.

BlackLine (NASDAQ:BL) last posted its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.29). BlackLine had a return on equity of 21.63% and a net margin of 24.67%. Equities research analysts predict that BlackLine, Inc. will post 0.9 earnings per share for the current fiscal year.

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.