Geneva Capital Management LLC Lowers Holdings in BlackLine, Inc. (NASDAQ:BL)

Geneva Capital Management LLC trimmed its holdings in shares of BlackLine, Inc. (NASDAQ:BL - Free Report) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 877,024 shares of the technology company's stock after selling 18,786 shares during the period. Geneva Capital Management LLC owned approximately 1.40% of BlackLine worth $53,288,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Creative Planning boosted its stake in shares of BlackLine by 88.9% in the third quarter. Creative Planning now owns 7,984 shares of the technology company's stock worth $440,000 after buying an additional 3,758 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in BlackLine by 90.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 210,000 shares of the technology company's stock worth $11,579,000 after purchasing an additional 100,000 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of BlackLine by 13.6% during the 3rd quarter. Principal Financial Group Inc. now owns 290,775 shares of the technology company's stock worth $16,033,000 after purchasing an additional 34,919 shares during the period. Covestor Ltd increased its holdings in shares of BlackLine by 31.9% during the 3rd quarter. Covestor Ltd now owns 1,392 shares of the technology company's stock valued at $77,000 after purchasing an additional 337 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its stake in shares of BlackLine by 3.7% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 39,474 shares of the technology company's stock valued at $2,177,000 after purchasing an additional 1,409 shares during the period. 95.13% of the stock is owned by hedge funds and other institutional investors.

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BlackLine Price Performance

Shares of NASDAQ:BL traded down $0.43 during trading on Monday, reaching $48.45. The stock had a trading volume of 814,599 shares, compared to its average volume of 833,556. 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, Inc. has a 1-year low of $43.37 and a 1-year high of $69.31. The stock has a market cap of $3.04 billion, a PE ratio of 33.41, a PEG ratio of 10.80 and a beta of 1.03. The business has a fifty day moving average price of $56.91 and a 200-day moving average price of $56.84.

BlackLine (NASDAQ:BL - Get Free Report) last released its earnings results on Tuesday, February 11th. The technology company reported $0.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.29). BlackLine had a return on equity of 21.63% and a net margin of 24.67%. On average, equities analysts forecast that BlackLine, Inc. will post 0.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on BL shares. Piper Sandler dropped their price target 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. Truist Financial dropped their target price on BlackLine from $60.00 to $55.00 and set a "hold" rating on the stock in a research report on Wednesday, February 12th. StockNews.com cut BlackLine from a "buy" rating to a "hold" rating in a report on Wednesday, February 26th. Citigroup lowered their price target on BlackLine from $73.00 to $70.00 and set a "buy" rating on the stock in a research report on Wednesday, February 12th. Finally, Morgan Stanley boosted their price objective on BlackLine from $70.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $66.40.

Insider Transactions at BlackLine

In related news, CRO Mark Woodhams sold 9,088 shares of the company'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 owns 65,414 shares of the company's stock, valued at approximately $3,249,113.38. This represents a 12.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 9.93% of the company's stock.

About BlackLine

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.