Corebridge Financial Inc. Has $1.86 Million Holdings in BlackLine, Inc. (NASDAQ:BL)

Corebridge Financial Inc. decreased its position in shares of BlackLine, Inc. (NASDAQ:BL) by 7.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,524 shares of the technology company’s stock after selling 2,366 shares during the period. Corebridge Financial Inc.’s holdings in BlackLine were worth $1,855,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Advantage Alpha Capital Partners LP raised its holdings in shares of BlackLine by 51.7% in the fourth quarter. Advantage Alpha Capital Partners LP now owns 79,440 shares of the technology company’s stock valued at $4,827,000 after buying an additional 27,081 shares during the last quarter. LPL Financial LLC increased its position in BlackLine by 88.5% in the 4th quarter. LPL Financial LLC now owns 17,248 shares of the technology company’s stock valued at $1,048,000 after acquiring an additional 8,100 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of BlackLine in the fourth quarter worth about $650,000. Hillsdale Investment Management Inc. lifted its position in shares of BlackLine by 0.9% during the fourth quarter. Hillsdale Investment Management Inc. now owns 46,600 shares of the technology company’s stock worth $2,831,000 after purchasing an additional 400 shares in the last quarter. Finally, Sei Investments Co. grew its stake in shares of BlackLine by 6.2% during the fourth quarter. Sei Investments Co. now owns 147,381 shares of the technology company’s stock valued at $8,955,000 after purchasing an additional 8,558 shares during the last quarter. Institutional investors own 95.13% of the company’s stock.

Insider Activity

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

Analyst Upgrades and Downgrades

BL has been the topic of several research reports. Citigroup reduced their price objective on BlackLine from $73.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. DA Davidson initiated coverage on BlackLine in a research note on Tuesday. They set a “buy” rating and a $58.00 price target on the stock. Piper Sandler lowered their price objective on BlackLine from $60.00 to $58.00 and set an “underweight” rating for the company in a research report on Wednesday, February 12th. JMP Securities restated a “market outperform” rating and set a $86.00 target price on shares of BlackLine in a research report on Wednesday, January 15th. Finally, Truist Financial reduced their target price on shares of BlackLine from $60.00 to $55.00 and set a “hold” rating on the stock in a research note on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $65.64.

BlackLine Trading Up 0.6 %

BL opened at $49.44 on Thursday. The firm’s fifty day moving average is $53.40 and its two-hundred day moving average is $56.80. The firm has a market cap of $3.11 billion, a PE ratio of 34.10, a price-to-earnings-growth ratio of 10.80 and a beta of 1.03. BlackLine, Inc. has a twelve month low of $43.37 and a twelve month high of $69.09. The company has a debt-to-equity ratio of 2.00, a quick ratio of 2.69 and a current ratio of 2.59.

BlackLine (NASDAQ:BL) last issued its quarterly earnings data 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%. Equities research analysts anticipate that BlackLine, Inc. will post 0.9 EPS for the current year.

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.