BlackLine, Inc. (NASDAQ:BL) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its holdings in shares of BlackLine, Inc. (NASDAQ:BL - Free Report) by 31.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,682 shares of the technology company's stock after selling 7,995 shares during the period. Victory Capital Management Inc.'s holdings in BlackLine were worth $1,074,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. GAMMA Investing LLC raised 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 worth $39,000 after acquiring an additional 185 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in BlackLine by 0.8% during the 4th quarter. Louisiana State Employees Retirement System now owns 25,100 shares of the technology company's stock worth $1,525,000 after buying an additional 200 shares during the last quarter. Asset Management One Co. Ltd. grew its stake in BlackLine by 19.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 1,266 shares of the technology company's stock worth $77,000 after buying an additional 209 shares during the last quarter. Tidal Investments LLC grew its stake in BlackLine by 1.6% during the 3rd quarter. Tidal Investments LLC now owns 13,539 shares of the technology company's stock worth $747,000 after buying an additional 219 shares during the last quarter. Finally, Hardy Reed LLC grew its stake in BlackLine by 9.5% during the 4th quarter. Hardy Reed LLC now owns 4,843 shares of the technology company's stock worth $294,000 after buying an additional 420 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company's stock.

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BlackLine Trading Up 1.0 %

NASDAQ BL traded up $0.51 during trading hours on Friday, hitting $50.29. 1,310,152 shares of the company's stock were exchanged, compared to its average volume of 774,644. The business's 50 day moving average is $54.93 and its 200-day moving average is $56.75. BlackLine, Inc. has a 12-month low of $43.37 and a 12-month high of $69.09. The firm has a market capitalization of $3.16 billion, a P/E ratio of 34.68, a price-to-earnings-growth ratio of 10.80 and a beta of 1.03. 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 (NASDAQ:BL - Get Free Report) last released 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%. As a group, analysts anticipate that BlackLine, Inc. will post 0.9 EPS for the current fiscal year.

Insider Transactions at BlackLine

In other news, CRO Mark Woodhams sold 9,088 shares of the stock in a transaction dated Friday, February 21st. The stock was 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 in the company, valued at approximately $3,249,113.38. This trade represents a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 9.93% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Citigroup lowered their target price on BlackLine from $73.00 to $70.00 and set a "buy" rating on the stock in a research note on Wednesday, February 12th. Piper Sandler dropped their price objective on BlackLine from $60.00 to $58.00 and set an "underweight" rating on the stock in a report on Wednesday, February 12th. Truist Financial dropped their price objective on BlackLine from $60.00 to $55.00 and set a "hold" rating on the stock in a report on Wednesday, February 12th. BMO Capital Markets lowered their target price on BlackLine from $68.00 to $60.00 and set a "market perform" rating on the stock in a report on Wednesday, February 12th. Finally, Bank of America raised BlackLine from an "underperform" rating to a "buy" rating and upped their target price for the company from $50.00 to $75.00 in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, BlackLine has a consensus rating of "Hold" and a consensus price target of $66.40.

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.