ExodusPoint Capital Management LP Has $1.64 Million Stock Holdings in BlackLine, Inc. (NASDAQ:BL)

ExodusPoint Capital Management LP trimmed its holdings in BlackLine, Inc. (NASDAQ:BL - Free Report) by 52.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 26,903 shares of the technology company's stock after selling 29,783 shares during the period. ExodusPoint Capital Management LP's holdings in BlackLine were worth $1,635,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. American Century Companies Inc. lifted its holdings in shares of BlackLine by 12,538.0% during the 4th quarter. American Century Companies Inc. now owns 896,665 shares of the technology company's stock worth $54,481,000 after acquiring an additional 889,570 shares during the period. JPMorgan Chase & Co. raised its position in shares of BlackLine by 35.3% in the 3rd 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 during the period. Raymond James Financial Inc. purchased a new stake in BlackLine during the fourth quarter valued at about $23,770,000. Conestoga Capital Advisors LLC increased its stake 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 acquiring an additional 354,784 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of BlackLine in the 4th quarter worth about $19,392,000. Institutional investors and hedge funds own 95.13% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BL shares. BMO Capital Markets cut 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 cut their price objective on BlackLine from $55.00 to $40.00 and set a "hold" rating on the stock in a report on Monday, April 7th. Bank of America raised BlackLine from an "underperform" rating to a "buy" rating and upped their target price for the stock from $50.00 to $75.00 in a research report on Thursday, January 30th. JMP Securities restated a "market outperform" rating and issued a $86.00 price objective on shares of BlackLine in a research note on Wednesday, January 15th. Finally, Citigroup cut their price objective on BlackLine from $73.00 to $70.00 and set a "buy" rating for the company in a research report on Wednesday, February 12th. Two research 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. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $64.27.

Insider Activity

In related news, CRO Mark Woodhams sold 9,088 shares of the firm's 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 completion of the sale, the executive now directly owns 65,414 shares in the company, valued at approximately $3,249,113.38. This trade represents a 12.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 9.93% of the stock is currently owned by insiders.

BlackLine Stock Down 0.7 %

NASDAQ BL traded down $0.31 during trading on Monday, hitting $45.28. The stock had a trading volume of 95,811 shares, compared to its average volume of 808,086. The company has a market capitalization of $2.86 billion, a PE ratio of 31.23, a P/E/G ratio of 10.80 and a beta of 0.97. BlackLine, Inc. has a 12 month low of $40.82 and a 12 month high of $66.25. The company's 50-day moving average price is $50.10 and its two-hundred day moving average price is $56.38. 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 - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.21 earnings per share (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, sell-side analysts forecast 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.