Crossmark Global Holdings Inc. Has $207,000 Stock Holdings in BlackLine, Inc. (NASDAQ:BL)

Crossmark Global Holdings Inc. lowered its stake in shares of BlackLine, Inc. (NASDAQ:BL) by 63.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,752 shares of the technology company’s stock after selling 6,584 shares during the period. Crossmark Global Holdings Inc.’s holdings in BlackLine were worth $207,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in BlackLine by 9.5% in the 1st quarter. Vanguard Group Inc. now owns 7,380,961 shares of the technology company’s stock valued at $476,662,000 after purchasing an additional 642,772 shares during the period. Conestoga Capital Advisors LLC grew its holdings in shares of BlackLine by 24.9% during the third quarter. Conestoga Capital Advisors LLC now owns 1,759,098 shares of the technology company’s stock valued at $96,997,000 after buying an additional 350,143 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of BlackLine during the second quarter worth about $15,128,000. Dimensional Fund Advisors LP raised its holdings in shares of BlackLine by 65.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 579,481 shares of the technology company’s stock worth $28,076,000 after acquiring an additional 229,151 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of BlackLine by 3,027.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 224,944 shares of the technology company’s stock worth $12,403,000 after acquiring an additional 217,751 shares during the last quarter. Institutional investors own 95.13% of the company’s stock.

Insiders Place Their Bets

In other BlackLine news, insider Karole Morgan-Prager sold 27,079 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $60.06, for a total transaction of $1,626,364.74. Following the sale, the insider now owns 113,865 shares of the company’s stock, valued at $6,838,731.90. The trade was a 19.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mark Partin sold 85,308 shares of BlackLine stock in a transaction on Monday, September 30th. The shares were sold at an average price of $54.84, for a total value of $4,678,290.72. Following the completion of the transaction, the chief financial officer now owns 226,844 shares of the company’s stock, valued at approximately $12,440,124.96. This trade represents a 27.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 135,495 shares of company stock valued at $7,560,534 over the last ninety days. 9.93% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on BL shares. BTIG Research decreased their price objective on BlackLine from $71.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. JPMorgan Chase & Co. upped their price target on BlackLine from $47.00 to $50.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Truist Financial raised their price objective on BlackLine from $55.00 to $60.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Piper Sandler upped their target price on shares of BlackLine from $51.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, Morgan Stanley increased their target price on shares of BlackLine from $70.00 to $80.00 and gave the company an “overweight” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $63.60.

BlackLine Trading Down 2.3 %

Shares of BL stock opened at $57.96 on Tuesday. BlackLine, Inc. has a 12-month low of $43.37 and a 12-month high of $69.31. The company has a quick ratio of 1.95, a current ratio of 2.69 and a debt-to-equity ratio of 2.42. The company has a 50 day moving average of $55.16 and a 200-day moving average of $51.66. The firm has a market cap of $3.62 billion, a P/E ratio of 60.23, a PEG ratio of 14.40 and a beta of 0.90.

BlackLine Profile

BlackLine, Inc provides cloud-based solutions to automate and streamline accounting and finance operations worldwide. It offers financial close management solutions, such as account reconciliations that provides a centralized workspace for users to collaborate on account reconciliations; transaction matching that analyzes and reconciles individual transactions; task management to create and manage processes and task lists; and financial reporting analytics that enables analysis and validation of financial data.