SG Americas Securities LLC lowered its stake in shares of BlackLine, Inc. (NASDAQ:BL - Free Report) by 82.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 7,071 shares of the technology company's stock after selling 34,395 shares during the period. SG Americas Securities LLC's holdings in BlackLine were worth $430,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in BL. Dakota Wealth Management purchased a new position in BlackLine during the fourth quarter worth approximately $244,000. GAMMA Investing LLC lifted its position in shares of BlackLine by 41.2% during the 4th quarter. GAMMA Investing LLC now owns 634 shares of the technology company's stock valued at $39,000 after buying an additional 185 shares in the last quarter. JPMorgan Chase & Co. grew its stake in BlackLine by 35.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,666,591 shares of the technology company's stock valued at $91,896,000 after acquiring an additional 435,271 shares during the period. Principal Financial Group Inc. increased its holdings in BlackLine by 13.6% in the 3rd quarter. Principal Financial Group Inc. now owns 290,775 shares of the technology company's stock worth $16,033,000 after acquiring an additional 34,919 shares in the last quarter. Finally, 272 Capital LP raised its position in BlackLine by 30.8% during the third quarter. 272 Capital LP now owns 68,437 shares of the technology company's stock worth $3,774,000 after acquiring an additional 16,107 shares during the period. Institutional investors and hedge funds own 95.13% of the company's stock.
BlackLine Stock Down 0.8 %
BL stock traded down $0.51 during midday trading on Thursday, reaching $65.13. 416,388 shares of the company were exchanged, compared to its average volume of 543,945. The stock's 50-day simple moving average is $61.68 and its 200 day simple moving average is $56.26. The company has a market cap of $4.07 billion, a price-to-earnings ratio of 66.46, a price-to-earnings-growth ratio of 8.97 and a beta of 0.92. BlackLine, Inc. has a 1-year low of $43.37 and a 1-year high of $69.31. 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 Activity
In other BlackLine news, CRO Mark Woodhams sold 24,408 shares of the business's stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $64.32, for a total transaction of $1,569,922.56. Following the sale, the executive now directly owns 72,920 shares in the company, valued at approximately $4,690,214.40. The trade was a 25.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 9.53% of the company's stock.
Analysts Set New Price Targets
BL has been the topic of several research reports. Citigroup raised shares of BlackLine from a "neutral" rating to a "buy" rating and set a $73.00 price target on the stock in a research note on Thursday, January 16th. Bank of America upgraded BlackLine from an "underperform" rating to a "buy" rating and upped their price target for the company from $50.00 to $75.00 in a research report on Thursday, January 30th. Piper Sandler downgraded BlackLine from a "neutral" rating to an "underweight" rating and set a $60.00 price objective on the stock. in a research report on Monday, January 6th. Truist Financial upped their target price on BlackLine from $55.00 to $60.00 and gave the company a "hold" rating in a report on Monday, November 11th. Finally, Morgan Stanley lifted their price target on BlackLine from $70.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $68.10.
Read Our Latest Research Report on BlackLine
About BlackLine
(
Free Report)
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.
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