SG Americas Securities LLC Cuts Stock Position in BlackLine, Inc. (NASDAQ:BL)

SG Americas Securities LLC decreased its holdings in shares of BlackLine, Inc. (NASDAQ:BL) by 82.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,071 shares of the technology company’s stock after selling 34,395 shares during the period. SG Americas Securities LLC’s holdings in BlackLine were worth $430,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Quarry LP purchased a new stake in shares of BlackLine during the second quarter worth $32,000. GAMMA Investing LLC grew its position in BlackLine by 41.2% in the fourth quarter. GAMMA Investing LLC now owns 634 shares of the technology company’s stock worth $39,000 after acquiring an additional 185 shares during the period. Covestor Ltd grew its holdings in shares of BlackLine by 31.9% during the 3rd quarter. Covestor Ltd now owns 1,392 shares of the technology company’s stock worth $77,000 after purchasing an additional 337 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of BlackLine during the 2nd quarter worth about $220,000. Finally, Hardy Reed LLC purchased a new stake in BlackLine in the 3rd quarter valued at about $244,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

BlackLine Trading Up 0.6 %

BL stock opened at $63.85 on Monday. The business has a fifty day simple moving average of $61.56 and a 200-day simple moving average of $55.95. BlackLine, Inc. has a 52 week low of $43.37 and a 52 week high of $69.31. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 2.42. The company has a market cap of $3.99 billion, a price-to-earnings ratio of 65.15, a PEG ratio of 14.24 and a beta of 0.91.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BL. JPMorgan Chase & Co. raised their target price on BlackLine from $47.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Citigroup raised shares of BlackLine from a “neutral” rating to a “buy” rating and set a $73.00 price objective for the company in a research note on Thursday, January 16th. Morgan Stanley increased their target price on shares of BlackLine from $70.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. JMP Securities restated a “market outperform” rating and issued a $86.00 price target on shares of BlackLine in a research note on Wednesday, January 15th. Finally, Piper Sandler cut BlackLine from a “neutral” rating to an “underweight” rating and set a $60.00 price objective on the stock. in a research note on Monday, January 6th. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $68.10.

Insider Buying and Selling

In other news, CRO Mark Woodhams sold 24,408 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $64.32, for a total transaction of $1,569,922.56. Following the transaction, the executive now owns 72,920 shares of the company’s stock, valued at approximately $4,690,214.40. This represents a 25.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 9.93% of the stock is currently owned by 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.