BlackLine, Inc. (NASDAQ:BL) Shares Sold by Holocene Advisors LP

Holocene Advisors LP lowered its position in shares of BlackLine, Inc. (NASDAQ:BL - Free Report) by 14.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,346 shares of the technology company's stock after selling 14,252 shares during the period. Holocene Advisors LP owned approximately 0.14% of BlackLine worth $4,761,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Engaged Capital LLC purchased a new stake in BlackLine in the third quarter worth approximately $33,620,000. Conestoga Capital Advisors LLC boosted its holdings in BlackLine by 24.9% in the third quarter. Conestoga Capital Advisors LLC now owns 1,759,098 shares of the technology company's stock worth $96,997,000 after purchasing an additional 350,143 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in BlackLine in the second quarter worth approximately $15,128,000. Dimensional Fund Advisors LP boosted its holdings in BlackLine by 65.4% in the second quarter. Dimensional Fund Advisors LP now owns 579,481 shares of the technology company's stock worth $28,076,000 after purchasing an additional 229,151 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in BlackLine by 3,027.3% in the third quarter. Assenagon Asset Management S.A. now owns 224,944 shares of the technology company's stock worth $12,403,000 after purchasing an additional 217,751 shares during the last quarter. Institutional investors own 95.13% of the company's stock.

BlackLine Stock Performance

NASDAQ BL traded down $0.59 during mid-day trading on Thursday, reaching $62.91. 321,370 shares of the stock were exchanged, compared to its average volume of 870,921. The business's 50 day moving average is $58.08 and its 200-day moving average is $51.92. BlackLine, Inc. has a 1 year low of $43.37 and a 1 year high of $69.31. The company has a market capitalization of $3.93 billion, a P/E ratio of 64.80, a P/E/G ratio of 14.74 and a beta of 0.90. The company has a debt-to-equity ratio of 2.42, a quick ratio of 2.69 and a current ratio of 2.69.

Insider Buying and Selling at BlackLine

In other news, insider Karole Morgan-Prager sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $55.00, for a total value of $550,000.00. Following the completion of the transaction, the insider now owns 113,865 shares of the company's stock, valued at approximately $6,262,575. This trade represents a 8.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Mark Partin sold 5,648 shares of BlackLine stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $53.00, for a total transaction of $299,344.00. Following the completion of the transaction, the chief financial officer now owns 226,844 shares of the company's stock, valued at $12,022,732. This represents a 2.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 134,108 shares of company stock valued at $7,488,826 over the last ninety days. Corporate insiders own 9.93% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. BTIG Research decreased their price objective on shares of BlackLine from $71.00 to $65.00 and set a "buy" rating on the stock in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price target on shares of BlackLine from $47.00 to $50.00 and gave the company an "underweight" rating in a report on Friday, October 25th. Robert W. Baird reduced their price target on shares of BlackLine from $72.00 to $65.00 and set an "outperform" rating on the stock in a report on Wednesday, August 7th. Morgan Stanley lifted 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, Piper Sandler reiterated a "neutral" rating and issued a $60.00 price target on shares of BlackLine in a report on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, BlackLine presently has a consensus rating of "Hold" and an average price target of $64.10.

BlackLine Company Profile

BlackLine, Inc provides cloud-based solutions to automate and streamline accounting and finance operations worldwide. It offers financial close management solutions, such as account reconciliations that provides a centralized workspace for users to collaborate on account reconciliations; transaction matching that analyzes and reconciles individual transactions; task management to create and manage processes and task lists; and financial reporting analytics that enables analysis and validation of financial data.