Sei Investments Co. Grows Position in BlackLine, Inc. (NASDAQ:BL)

Sei Investments Co. grew its stake in BlackLine, Inc. (NASDAQ:BL) by 6.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 147,381 shares of the technology company’s stock after acquiring an additional 8,558 shares during the quarter. Sei Investments Co. owned about 0.24% of BlackLine worth $8,955,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in BlackLine in the 4th quarter worth approximately $31,000. Global Retirement Partners LLC grew its position 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 purchasing an additional 449 shares during the period. GAMMA Investing LLC grew its position 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 purchasing an additional 185 shares during the period. Asset Management One Co. Ltd. increased its stake in 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 purchasing an additional 209 shares during the last quarter. Finally, KBC Group NV lifted its position in BlackLine by 44.0% during the fourth quarter. KBC Group NV now owns 2,180 shares of the technology company’s stock worth $132,000 after buying an additional 666 shares during the period. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on BL shares. JMP Securities restated a “market outperform” rating and issued a $86.00 price target on shares of BlackLine in a report on Wednesday, January 15th. BMO Capital Markets lowered their target price on shares of BlackLine from $68.00 to $60.00 and set a “market perform” rating for the company in a report on Wednesday, February 12th. Piper Sandler cut their price target on shares of BlackLine from $60.00 to $58.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 12th. Truist Financial decreased their price target 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. Finally, Citigroup dropped their price objective on BlackLine from $73.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $66.40.

BlackLine Trading Down 2.7 %

NASDAQ:BL opened at $48.81 on Monday. The business’s 50-day moving average is $54.08 and its two-hundred day moving average is $56.87. The firm has a market capitalization of $3.07 billion, a PE ratio of 33.66, a price-to-earnings-growth ratio of 10.80 and a beta of 1.03. BlackLine, Inc. has a 12 month low of $43.37 and a 12 month high of $69.09. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.59 and a quick ratio of 2.69.

BlackLine (NASDAQ:BL) last released its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.21 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%. Research analysts predict that BlackLine, Inc. will post 0.9 earnings per share for the current fiscal year.

Insider Buying and Selling at BlackLine

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 value of $451,400.96. Following the sale, the executive now directly 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 legal filing with the SEC, which is accessible through this link. 9.93% of the stock is currently owned by corporate 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.