Corient Private Wealth LLC Acquires New Holdings in BlackLine, Inc. (NASDAQ:BL)

Corient Private Wealth LLC bought a new position in BlackLine, Inc. (NASDAQ:BL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,181 shares of the technology company’s stock, valued at approximately $254,000.

A number of other large investors have also added to or reduced their stakes in BL. SBI Securities Co. Ltd. bought a new stake in BlackLine during the fourth quarter valued at approximately $31,000. Global Retirement Partners LLC grew its position in shares of BlackLine by 568.4% during the 4th 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 during the period. GAMMA Investing LLC grew its position in shares of BlackLine by 41.2% during the 4th quarter. GAMMA Investing LLC now owns 634 shares of the technology company’s stock valued at $39,000 after acquiring an additional 185 shares during the period. Asset Management One Co. Ltd. increased its stake in shares of BlackLine by 19.8% in the 4th quarter. Asset Management One Co. Ltd. now owns 1,266 shares of the technology company’s stock worth $77,000 after purchasing an additional 209 shares in the last quarter. Finally, KBC Group NV raised its holdings in BlackLine by 44.0% in the 4th quarter. KBC Group NV now owns 2,180 shares of the technology company’s stock worth $132,000 after purchasing an additional 666 shares during the period. Institutional investors own 95.13% of the company’s stock.

BlackLine Trading Down 0.8 %

BL stock opened at $48.42 on Tuesday. The firm’s fifty day simple moving average is $53.85 and its two-hundred day simple moving average is $56.86. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 33.39, a price-to-earnings-growth ratio of 10.80 and a beta of 1.03. The company has a quick ratio of 2.69, a current ratio of 2.59 and a debt-to-equity ratio of 2.00. BlackLine, Inc. has a twelve month low of $43.37 and a twelve month high of $69.09.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on BL shares. BMO Capital Markets decreased their target price on shares of BlackLine from $68.00 to $60.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 12th. 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 research report on Wednesday, February 12th. Citigroup lowered their target price on shares of BlackLine from $73.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Piper Sandler cut their price target on BlackLine from $60.00 to $58.00 and set an “underweight” rating for the company in a research note on Wednesday, February 12th. Finally, Bank of America upgraded BlackLine from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $50.00 to $75.00 in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, BlackLine has an average rating of “Hold” and an average price target of $66.40.

Insider Buying and Selling at BlackLine

In other news, CRO Mark Woodhams sold 9,088 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $49.67, for a total transaction of $451,400.96. Following the transaction, the executive now owns 65,414 shares of the company’s stock, valued at approximately $3,249,113.38. This represents a 12.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 9.93% of the stock is owned by corporate insiders.

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.