BlackLine, Inc. (NASDAQ:BL) Shares Sold by Trust Point Inc.

Trust Point Inc. lowered its stake in shares of BlackLine, Inc. (NASDAQ:BL) by 12.4% during the fourth quarter, Holdings Channel reports. The fund owned 12,836 shares of the technology company’s stock after selling 1,812 shares during the period. Trust Point Inc.’s holdings in BlackLine were worth $780,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Conestoga Capital Advisors LLC raised its position in BlackLine by 20.2% in the 4th quarter. Conestoga Capital Advisors LLC now owns 2,113,882 shares of the technology company’s stock valued at $128,439,000 after purchasing an additional 354,784 shares during the last quarter. Rheos Capital Works Inc. acquired a new stake in shares of BlackLine during the fourth quarter worth about $6,076,000. Gagnon Securities LLC grew its holdings in shares of BlackLine by 6.6% during the fourth quarter. Gagnon Securities LLC now owns 197,278 shares of the technology company’s stock worth $11,987,000 after buying an additional 12,292 shares during the last quarter. Pacer Advisors Inc. increased its position in BlackLine by 154.1% in the 4th quarter. Pacer Advisors Inc. now owns 4,159 shares of the technology company’s stock valued at $253,000 after acquiring an additional 2,522 shares during the period. Finally, KBC Group NV increased its position in BlackLine by 44.0% in the 4th quarter. KBC Group NV now owns 2,180 shares of the technology company’s stock valued at $132,000 after acquiring an additional 666 shares during the period. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Insider Buying and Selling at BlackLine

In related news, CRO Mark Woodhams sold 24,408 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $64.32, for a total transaction of $1,569,922.56. Following the sale, the executive now owns 72,920 shares of the company’s stock, valued at $4,690,214.40. This trade represents a 25.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 9.53% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BL. Citigroup raised BlackLine from a “neutral” rating to a “buy” rating and set a $73.00 target price on the stock in a report on Thursday, January 16th. JMP Securities restated a “market outperform” rating and set a $86.00 price objective on shares of BlackLine in a research report on Wednesday, January 15th. StockNews.com downgraded shares of BlackLine from a “buy” rating to a “hold” rating in a report on Tuesday. Piper Sandler cut shares of BlackLine from a “neutral” rating to an “underweight” rating and set a $60.00 price target for the company. in a report on Monday, January 6th. Finally, Morgan Stanley lifted their price objective on BlackLine from $70.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, BlackLine presently has a consensus rating of “Hold” and a consensus target price of $68.10.

BlackLine Trading Up 1.5 %

Shares of BL stock opened at $64.57 on Wednesday. The stock has a market cap of $4.03 billion, a P/E ratio of 65.89, a P/E/G ratio of 8.97 and a beta of 0.92. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 2.42. BlackLine, Inc. has a fifty-two week low of $43.37 and a fifty-two week high of $69.31. The business has a fifty day simple moving average of $61.60 and a 200-day simple moving average of $56.20.

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.