Marshall Wace LLP Trims Stock Position in BlackLine, Inc. (NASDAQ:BL)

Marshall Wace LLP trimmed its holdings in BlackLine, Inc. (NASDAQ:BL) by 18.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 75,947 shares of the technology company’s stock after selling 16,979 shares during the period. Marshall Wace LLP owned approximately 0.12% of BlackLine worth $4,615,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in shares of BlackLine in the 4th quarter worth approximately $31,000. Global Retirement Partners LLC lifted its stake in BlackLine by 568.4% during the fourth 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. Quadrant Capital Group LLC boosted its position in shares of BlackLine by 243.5% during the fourth quarter. Quadrant Capital Group LLC now owns 584 shares of the technology company’s stock worth $35,000 after buying an additional 414 shares during the period. GAMMA Investing LLC grew its stake in shares of BlackLine by 41.2% in the fourth quarter. GAMMA Investing LLC now owns 634 shares of the technology company’s stock valued at $39,000 after buying an additional 185 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of BlackLine in the 4th quarter valued at $50,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

BlackLine Stock Performance

Shares of BlackLine stock opened at $46.86 on Friday. The firm’s 50 day moving average is $47.61 and its two-hundred day moving average is $55.79. BlackLine, Inc. has a 52 week low of $40.82 and a 52 week high of $66.25. 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 firm has a market capitalization of $2.96 billion, a P/E ratio of 32.32, a P/E/G ratio of 10.80 and a beta of 0.97.

BlackLine (NASDAQ:BL) last announced its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.29). BlackLine had a net margin of 24.67% and a return on equity of 21.63%. 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 BlackLine stock in a transaction on Friday, February 21st. The shares were sold at an average price of $49.67, for a total value of $451,400.96. Following the transaction, the executive now directly owns 65,414 shares in the company, valued at approximately $3,249,113.38. The trade was a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 8.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BL. Truist Financial dropped their target price on BlackLine from $55.00 to $40.00 and set a “hold” rating for the company in a research report on Monday, April 7th. JMP Securities reaffirmed a “market outperform” rating and set a $86.00 target price on shares of BlackLine in a research note on Wednesday, January 15th. Citigroup decreased 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. The Goldman Sachs Group dropped their price target on shares of BlackLine from $51.00 to $43.00 and set a “sell” rating for the company in a research note on Thursday, April 17th. Finally, Piper Sandler upgraded BlackLine from an “underweight” rating to a “neutral” rating and decreased their target price for the company from $58.00 to $46.00 in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $60.00.

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.