Oppenheimer Asset Management Inc. Sells 5,809 Shares of BlackLine, Inc. (NASDAQ:BL)

Oppenheimer Asset Management Inc. decreased its position in shares of BlackLine, Inc. (NASDAQ:BL) by 6.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 88,248 shares of the technology company’s stock after selling 5,809 shares during the quarter. Oppenheimer Asset Management Inc. owned approximately 0.14% of BlackLine worth $5,699,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. CWM LLC grew its stake in BlackLine by 94.8% during the fourth quarter. CWM LLC now owns 452 shares of the technology company’s stock valued at $28,000 after acquiring an additional 220 shares in the last quarter. YHB Investment Advisors Inc. purchased a new position in shares of BlackLine during the first quarter valued at about $33,000. CVA Family Office LLC bought a new stake in shares of BlackLine in the fourth quarter worth about $38,000. OLD National Bancorp IN purchased a new stake in shares of BlackLine in the fourth quarter worth about $202,000. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in BlackLine by 513.2% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 3,354 shares of the technology company’s stock valued at $209,000 after buying an additional 2,807 shares during the last quarter. Institutional investors own 95.13% of the company’s stock.

Insider Activity

In other BlackLine news, CRO Mark Woodhams sold 2,877 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $58.00, for a total value of $166,866.00. Following the transaction, the executive now directly owns 104,682 shares in the company, valued at approximately $6,071,556. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Owen Ryan acquired 3,000 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was purchased at an average cost of $49.88 per share, for a total transaction of $149,640.00. Following the completion of the acquisition, the chief executive officer now directly owns 145,948 shares of the company’s stock, valued at approximately $7,279,886.24. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Mark Woodhams sold 2,877 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $58.00, for a total transaction of $166,866.00. Following the transaction, the executive now owns 104,682 shares in the company, valued at $6,071,556. The disclosure for this sale can be found here. Insiders own 9.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Robert W. Baird lifted their price objective on BlackLine from $61.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. Wolfe Research started coverage on shares of BlackLine in a research report on Monday, March 18th. They issued a “peer perform” rating on the stock. William Blair upgraded shares of BlackLine to a “hold” rating in a research report on Tuesday, May 7th. Citigroup dropped their price objective on shares of BlackLine from $62.00 to $54.00 and set a “neutral” rating for the company in a research note on Friday, June 28th. Finally, Piper Sandler decreased their target price on shares of BlackLine from $62.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $62.78.

BlackLine Trading Up 0.2 %

BlackLine stock traded up $0.10 during midday trading on Friday, reaching $47.99. The stock had a trading volume of 641,124 shares, compared to its average volume of 1,019,162. BlackLine, Inc. has a 52-week low of $43.79 and a 52-week high of $69.31. The company has a fifty day moving average of $50.03 and a 200 day moving average of $57.13. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 208.65, a price-to-earnings-growth ratio of 5.53 and a beta of 0.86. The company has a quick ratio of 2.30, a current ratio of 2.30 and a debt-to-equity ratio of 4.08.

BlackLine (NASDAQ:BL) last issued its quarterly earnings results on Tuesday, May 7th. The technology company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.10. BlackLine had a return on equity of 9.07% and a net margin of 2.30%. The firm had revenue of $157.46 million for the quarter, compared to the consensus estimate of $155.05 million. On average, analysts anticipate that BlackLine, Inc. will post 1.1 earnings per share for the current fiscal year.

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.