BlackLine, Inc. (NASDAQ:BL) Shares Sold by US Bancorp DE

US Bancorp DE cut its holdings in BlackLine, Inc. (NASDAQ:BL) by 16.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,777 shares of the technology company’s stock after selling 2,586 shares during the quarter. US Bancorp DE’s holdings in BlackLine were worth $776,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of BL. Global Retirement Partners LLC boosted its holdings in shares of BlackLine by 568.4% in the fourth quarter. Global Retirement Partners LLC now owns 528 shares of the technology company’s stock valued at $32,000 after acquiring an additional 449 shares in the last quarter. GAMMA Investing LLC boosted its holdings 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 acquiring an additional 185 shares in the last quarter. Covestor Ltd boosted its holdings in shares of BlackLine by 31.9% in the third quarter. Covestor Ltd now owns 1,392 shares of the technology company’s stock valued at $77,000 after acquiring an additional 337 shares in the last quarter. Asset Management One Co. Ltd. boosted its holdings in shares of BlackLine by 19.8% in the fourth quarter. Asset Management One Co. Ltd. now owns 1,266 shares of the technology company’s stock valued at $77,000 after acquiring an additional 209 shares in the last quarter. Finally, KBC Group NV boosted its holdings in shares of BlackLine by 44.0% in the fourth quarter. KBC Group NV now owns 2,180 shares of the technology company’s stock valued at $132,000 after acquiring an additional 666 shares in the last quarter. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other 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 value of $451,400.96. Following the completion of the transaction, the executive now directly owns 65,414 shares in the company, valued at approximately $3,249,113.38. This represents a 12.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.93% of the company’s stock.

BlackLine Stock Performance

Shares of BL stock opened at $48.45 on Tuesday. BlackLine, Inc. has a one year low of $43.37 and a one year high of $69.31. The company has a debt-to-equity ratio of 2.00, a quick ratio of 2.69 and a current ratio of 2.59. The company has a 50 day moving average price of $56.67 and a 200 day moving average price of $56.83. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of 33.41, a price-to-earnings-growth ratio of 10.80 and a beta of 1.03.

BlackLine (NASDAQ:BL) last released its quarterly earnings data 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%. Sell-side analysts anticipate that BlackLine, Inc. will post 0.9 EPS for the current year.

Wall Street Analysts Forecast Growth

BL has been the topic of a number of research analyst reports. Bank of America raised shares of BlackLine from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $50.00 to $75.00 in a report on Thursday, January 30th. Truist Financial decreased their price objective on shares of BlackLine from $60.00 to $55.00 and set a “hold” rating on the stock in a report on Wednesday, February 12th. Piper Sandler decreased their price objective on shares of BlackLine from $60.00 to $58.00 and set an “underweight” rating on the stock in a report on Wednesday, February 12th. BMO Capital Markets decreased their price objective on shares of BlackLine from $68.00 to $60.00 and set a “market perform” rating on the stock in a report on Wednesday, February 12th. Finally, Morgan Stanley boosted their price objective on shares of BlackLine from $70.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six 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 target price of $66.40.

BlackLine Company 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.