Barclays PLC Has $28.51 Million Position in BlackLine, Inc. (NASDAQ:BL)

Barclays PLC decreased its stake in shares of BlackLine, Inc. (NASDAQ:BL - Free Report) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 469,212 shares of the technology company's stock after selling 9,808 shares during the quarter. Barclays PLC owned about 0.75% of BlackLine worth $28,509,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Conestoga Capital Advisors LLC lifted its stake in BlackLine by 20.2% in the fourth quarter. Conestoga Capital Advisors LLC now owns 2,113,882 shares of the technology company's stock worth $128,439,000 after acquiring an additional 354,784 shares during the period. JPMorgan Chase & Co. lifted its position in BlackLine by 35.3% during the third quarter. JPMorgan Chase & Co. now owns 1,666,591 shares of the technology company's stock worth $91,896,000 after buying an additional 435,271 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of BlackLine by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,282,017 shares of the technology company's stock valued at $70,704,000 after buying an additional 3,498 shares in the last quarter. American Century Companies Inc. grew its stake in shares of BlackLine by 12,538.0% in the fourth quarter. American Century Companies Inc. now owns 896,665 shares of the technology company's stock valued at $54,481,000 after buying an additional 889,570 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in BlackLine by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 501,699 shares of the technology company's stock worth $30,483,000 after buying an additional 6,477 shares during the last quarter. Institutional investors own 95.13% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BL shares. Morgan Stanley decreased their price objective on shares of BlackLine from $80.00 to $65.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. DA Davidson reduced their price target on shares of BlackLine from $58.00 to $55.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Truist Financial cut their price objective on BlackLine from $55.00 to $40.00 and set a "hold" rating for the company in a report on Monday, April 7th. JMP Securities reiterated a "market outperform" rating and issued a $86.00 price objective on shares of BlackLine in a research note on Wednesday, January 15th. Finally, Citigroup lowered their target price on BlackLine from $73.00 to $70.00 and set a "buy" rating for the company in a research note on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, BlackLine has a consensus rating of "Hold" and an average target price of $60.00.

Insider Activity at BlackLine

In related news, CRO Mark Woodhams sold 9,088 shares of the company's stock in a transaction dated Friday, February 21st. The shares were 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 in the company, valued at $3,249,113.38. This represents a 12.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.60% of the stock is currently owned by corporate insiders.

BlackLine Stock Up 2.7 %

Shares of BL traded up $1.22 during midday trading on Thursday, hitting $46.78. The company had a trading volume of 126,511 shares, compared to its average volume of 803,133. The company has a quick ratio of 2.69, a current ratio of 2.59 and a debt-to-equity ratio of 2.00. The company's 50 day moving average price is $47.70 and its 200 day moving average price is $55.84. The stock has a market cap of $2.95 billion, a price-to-earnings ratio of 32.26, a PEG ratio of 10.80 and a beta of 0.97. BlackLine, Inc. has a 52 week low of $40.82 and a 52 week high of $66.25.

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

BlackLine Company 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.