Bank of New York Mellon Corp Has $33.97 Million Holdings in BlackLine, Inc. (NASDAQ:BL)

Bank of New York Mellon Corp trimmed its position in BlackLine, Inc. (NASDAQ:BL - Free Report) by 28.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 558,997 shares of the technology company's stock after selling 222,084 shares during the period. Bank of New York Mellon Corp owned about 0.89% of BlackLine worth $33,965,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. FMR LLC raised its stake in BlackLine by 1.3% during the 3rd quarter. FMR LLC now owns 5,153,275 shares of the technology company's stock worth $284,152,000 after acquiring an additional 64,435 shares in the last quarter. Conestoga Capital Advisors LLC boosted its holdings in BlackLine by 20.2% during the fourth quarter. Conestoga Capital Advisors LLC now owns 2,113,882 shares of the technology company's stock worth $128,439,000 after buying an additional 354,784 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in BlackLine by 35.3% in the third quarter. JPMorgan Chase & Co. now owns 1,666,591 shares of the technology company's stock valued at $91,896,000 after purchasing an additional 435,271 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of BlackLine by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,282,017 shares of the technology company's stock valued at $70,704,000 after purchasing an additional 3,498 shares in the last quarter. Finally, Geneva Capital Management LLC grew its holdings in BlackLine by 2.8% during the 3rd quarter. Geneva Capital Management LLC now owns 895,810 shares of the technology company's stock valued at $49,395,000 after buying an additional 24,446 shares during the last quarter. 95.13% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In other news, CRO Mark Woodhams sold 24,408 shares of the business's stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $64.32, for a total transaction of $1,569,922.56. Following the transaction, the executive now directly owns 72,920 shares of the company's stock, valued at approximately $4,690,214.40. The trade was a 25.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.93% of the stock is owned by insiders.

BlackLine Trading Down 0.8 %

Shares of NASDAQ:BL traded down $0.40 during trading on Tuesday, hitting $48.05. The company had a trading volume of 699,364 shares, compared to its average volume of 832,945. BlackLine, Inc. has a one year low of $43.37 and a one year high of $69.31. The company has a fifty day simple moving average of $56.67 and a two-hundred day simple moving average of $56.83. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 33.14, a price-to-earnings-growth ratio of 10.80 and a beta of 1.03. 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 - Get Free Report) last posted 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 net margin of 24.67% and a return on equity of 21.63%. As a group, equities analysts forecast that BlackLine, Inc. will post 0.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BL shares. StockNews.com lowered BlackLine from a "buy" rating to a "hold" rating in a research report on Wednesday, February 26th. JMP Securities reaffirmed a "market outperform" rating and set a $86.00 target price on shares of BlackLine in a research report on Wednesday, January 15th. Piper Sandler lowered their price objective on shares of BlackLine from $60.00 to $58.00 and set an "underweight" rating on the stock in a research report on Wednesday, February 12th. Morgan Stanley raised their price target on shares of BlackLine from $70.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, November 15th. Finally, Citigroup cut their target price on shares of BlackLine from $73.00 to $70.00 and set a "buy" rating for the company in a research report on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average 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.