DF Dent & Co. Inc. cut its stake in shares of BlackLine, Inc. (NASDAQ:BL - Free Report) by 8.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 223,320 shares of the technology company's stock after selling 19,657 shares during the period. DF Dent & Co. Inc. owned 0.36% of BlackLine worth $13,569,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its holdings in shares of BlackLine by 13.6% in the 3rd quarter. Principal Financial Group Inc. now owns 290,775 shares of the technology company's stock valued at $16,033,000 after purchasing an additional 34,919 shares in the last quarter. Weiss Asset Management LP bought a new position in BlackLine in the 3rd quarter valued at approximately $1,506,000. Charles Schwab Investment Management Inc. grew its stake in shares of BlackLine by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 495,222 shares of the technology company's stock worth $27,307,000 after buying an additional 20,027 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of BlackLine by 35.3% during the third quarter. JPMorgan Chase & Co. now owns 1,666,591 shares of the technology company's stock worth $91,896,000 after buying an additional 435,271 shares in the last quarter. Finally, Conestoga Capital Advisors LLC boosted its holdings in shares of BlackLine by 20.2% during the 4th quarter. Conestoga Capital Advisors LLC now owns 2,113,882 shares of the technology company's stock valued at $128,439,000 after acquiring an additional 354,784 shares in the last quarter. Institutional investors own 95.13% of the company's stock.
BlackLine Stock Up 0.6 %
Shares of BL traded up $0.27 during trading hours on Tuesday, reaching $43.10. 485,149 shares of the stock traded hands, compared to its average volume of 803,160. BlackLine, Inc. has a 52 week low of $40.82 and a 52 week high of $69.09. The company has a current ratio of 2.59, a quick ratio of 2.69 and a debt-to-equity ratio of 2.00. The stock has a fifty day simple moving average of $52.41 and a 200 day simple moving average of $56.70. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 29.71, a PEG ratio of 10.80 and a beta of 0.97.
BlackLine (NASDAQ:BL - Get Free Report) last issued its quarterly 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%. On average, equities analysts forecast that BlackLine, Inc. will post 0.9 EPS for the current year.
Analysts Set New Price Targets
Several equities analysts have commented on BL shares. DA Davidson started coverage on BlackLine in a research report on Tuesday, April 1st. They issued a "buy" rating and a $58.00 target price for the company. JMP Securities reaffirmed a "market outperform" rating and set a $86.00 price target on shares of BlackLine in a research note on Wednesday, January 15th. Citigroup reduced their price objective 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. Truist Financial reduced their price target on BlackLine from $55.00 to $40.00 and set a "hold" rating on the stock in a research report on Monday. Finally, 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. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, BlackLine presently has an average rating of "Hold" and a consensus target price of $64.27.
Get Our Latest Analysis on BL
Insider Buying and Selling
In other BlackLine news, CRO Mark Woodhams sold 9,088 shares of BlackLine stock in a transaction dated 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 owns 65,414 shares of the company's stock, valued at approximately $3,249,113.38. The trade was a 12.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 9.93% of the stock is owned by insiders.
BlackLine Company Profile
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Free Report)
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.
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