Sei Investments Co. Has $8.96 Million Stock Holdings in BlackLine, Inc. (NASDAQ:BL)

Sei Investments Co. grew its holdings in BlackLine, Inc. (NASDAQ:BL - Free Report) by 6.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 147,381 shares of the technology company's stock after purchasing an additional 8,558 shares during the period. Sei Investments Co. owned about 0.24% of BlackLine worth $8,955,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. American Century Companies Inc. increased its stake 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 purchasing an additional 889,570 shares during the last quarter. Teacher Retirement System of Texas grew its stake in BlackLine by 87.2% in the 4th quarter. Teacher Retirement System of Texas now owns 11,740 shares of the technology company's stock valued at $713,000 after buying an additional 5,467 shares during the last quarter. Xponance Inc. increased its stake in shares of BlackLine by 9.2% in the fourth quarter. Xponance Inc. now owns 4,142 shares of the technology company's stock worth $252,000 after purchasing an additional 350 shares during the period. Intech Investment Management LLC grew its holdings in BlackLine by 36.1% in the 4th quarter. Intech Investment Management LLC now owns 20,201 shares of the technology company's stock valued at $1,227,000 after buying an additional 5,360 shares during the last quarter. Finally, Cibc World Markets Corp bought a new position in BlackLine during the fourth quarter worth $328,000. Hedge funds and other institutional investors own 95.13% of the company's stock.

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BlackLine Trading Down 6.8 %

Shares of NASDAQ:BL traded down $3.36 during midday trading on Thursday, hitting $46.08. The company had a trading volume of 936,851 shares, compared to its average volume of 797,168. The firm has a fifty day simple moving average of $53.12 and a 200 day simple moving average of $56.73. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of 31.78, a PEG ratio of 10.80 and a beta of 0.97. The company has a current ratio of 2.59, a quick ratio of 2.69 and a debt-to-equity ratio of 2.00. BlackLine, Inc. has a 12 month low of $43.37 and a 12 month high of $69.09.

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

Insider Buying and Selling

In other BlackLine news, CRO Mark Woodhams sold 9,088 shares of the company's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $49.67, for a total transaction of $451,400.96. Following the completion of the transaction, the executive now owns 65,414 shares of the company's stock, valued at $3,249,113.38. This represents a 12.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 9.93% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

BL has been the topic of several research reports. BMO Capital Markets lowered their price target 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. JMP Securities reiterated a "market outperform" rating and issued a $86.00 price target on shares of BlackLine in a research report on Wednesday, January 15th. Truist Financial dropped their price objective on shares of BlackLine from $60.00 to $55.00 and set a "hold" rating for the company in a report on Wednesday, February 12th. Bank of America upgraded BlackLine from an "underperform" rating to a "buy" rating and raised their target price for the company from $50.00 to $75.00 in a research note on Thursday, January 30th. Finally, StockNews.com lowered shares of BlackLine from a "buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, BlackLine has a consensus rating of "Hold" and a consensus target price of $65.64.

BlackLine 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.