BlackLine, Inc. (NASDAQ:BL) Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC decreased its holdings in BlackLine, Inc. (NASDAQ:BL - Free Report) by 7.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 89,805 shares of the technology company's stock after selling 6,850 shares during the period. Granite Investment Partners LLC owned 0.14% of BlackLine worth $5,457,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. purchased a new position in BlackLine during the 4th quarter valued at approximately $31,000. Global Retirement Partners LLC increased its position in BlackLine by 568.4% in the fourth quarter. Global Retirement Partners LLC now owns 528 shares of the technology company's stock worth $32,000 after purchasing an additional 449 shares during the last quarter. Quadrant Capital Group LLC raised its stake in BlackLine by 243.5% during the fourth quarter. Quadrant Capital Group LLC now owns 584 shares of the technology company's stock valued at $35,000 after purchasing an additional 414 shares in the last quarter. GAMMA Investing LLC lifted its position in BlackLine by 41.2% during the fourth quarter. GAMMA Investing LLC now owns 634 shares of the technology company's stock valued at $39,000 after purchasing an additional 185 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of BlackLine in the 4th quarter worth $50,000. Institutional investors own 95.13% of the company's stock.

Analyst Upgrades and Downgrades

BL has been the subject of a number of recent analyst reports. StockNews.com cut shares of BlackLine from a "buy" rating to a "hold" rating in a research note on Wednesday, February 26th. Piper Sandler decreased their price target on BlackLine from $60.00 to $58.00 and set an "underweight" rating for the company in a research note on Wednesday, February 12th. BMO Capital Markets reduced their target price on BlackLine from $68.00 to $60.00 and set a "market perform" rating on the stock in a research note on Wednesday, February 12th. The Goldman Sachs Group lowered their target price on shares of BlackLine from $51.00 to $43.00 and set a "sell" rating for the company in a research note on Thursday. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $86.00 price target on shares of BlackLine in a research note on Wednesday, January 15th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $61.00.

Insider Activity at BlackLine

In other BlackLine news, CRO Mark Woodhams sold 9,088 shares of BlackLine stock in a transaction on 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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 8.60% of the stock is currently owned by insiders.

BlackLine Stock Down 0.4 %

Shares of BlackLine stock traded down $0.18 during trading on Friday, reaching $44.44. The company's stock had a trading volume of 412,256 shares, compared to its average volume of 807,505. BlackLine, Inc. has a 1-year low of $40.82 and a 1-year high of $66.25. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 30.65, a P/E/G ratio of 10.80 and a beta of 0.97. The company has a quick ratio of 2.69, a current ratio of 2.59 and a debt-to-equity ratio of 2.00. The company has a 50-day simple moving average of $48.51 and a two-hundred day simple moving average of $56.10.

BlackLine (NASDAQ:BL - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.21 earnings per share 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%. As a group, equities analysts forecast that BlackLine, Inc. will post 0.9 earnings per share for the current year.

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.