Gotham Asset Management LLC lessened its stake in BlackLine, Inc. (NASDAQ:BL - Free Report) by 21.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,826 shares of the technology company's stock after selling 10,619 shares during the period. Gotham Asset Management LLC owned 0.06% of BlackLine worth $2,420,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in the stock. First Manhattan CO. LLC. purchased a new position in shares of BlackLine in the 4th quarter worth approximately $9,747,000. Deutsche Bank AG lifted its stake in BlackLine by 59.2% during the 4th quarter. Deutsche Bank AG now owns 53,811 shares of the technology company's stock valued at $3,270,000 after acquiring an additional 20,008 shares during the period. Brown Advisory Inc. lifted its stake in BlackLine by 38.8% during the 4th quarter. Brown Advisory Inc. now owns 783,437 shares of the technology company's stock valued at $47,602,000 after acquiring an additional 218,976 shares during the period. Balyasny Asset Management L.P. lifted its stake in BlackLine by 365.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 405,801 shares of the technology company's stock valued at $24,656,000 after acquiring an additional 318,647 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in BlackLine by 17.4% during the 4th quarter. Ameriprise Financial Inc. now owns 388,594 shares of the technology company's stock valued at $23,611,000 after acquiring an additional 57,708 shares during the period. Hedge funds and other institutional investors own 95.13% of the company's stock.
Insider Activity at BlackLine
In other news, CRO Mark Woodhams sold 9,088 shares of BlackLine 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 sale, the executive now directly owns 65,414 shares in the company, valued at $3,249,113.38. The trade was a 12.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 8.60% of the company's stock.
BlackLine Stock Performance
Shares of NASDAQ:BL traded down $0.67 during midday trading on Monday, hitting $54.87. The stock had a trading volume of 432,863 shares, compared to its average volume of 807,571. The company has a market capitalization of $3.42 billion, a PE ratio of 37.84, a P/E/G ratio of 10.80 and a beta of 0.94. The stock has a 50 day moving average price of $48.17 and a two-hundred day moving average price of $55.08. The company has a current ratio of 2.59, a quick ratio of 2.69 and a debt-to-equity ratio of 2.00. BlackLine, Inc. has a 1 year low of $40.82 and a 1 year high of $66.25.
Analyst Ratings Changes
Several research firms recently issued reports on BL. Citigroup decreased their target price on shares of BlackLine from $73.00 to $70.00 and set a "buy" rating for the company in a research note on Wednesday, February 12th. The Goldman Sachs Group decreased their target price on shares of BlackLine from $51.00 to $43.00 and set a "sell" rating for the company in a research note on Thursday, April 17th. Truist Financial boosted their target price on shares of BlackLine from $40.00 to $45.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. BMO Capital Markets decreased their target price on shares of BlackLine from $68.00 to $60.00 and set a "market perform" rating for the company in a research note on Wednesday, February 12th. Finally, Piper Sandler upped their price objective on shares of BlackLine from $46.00 to $50.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $60.75.
Read Our Latest Research Report on BL
BlackLine Profile
(
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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