Numerai GP LLC Trims Stock Position in BlackLine, Inc. (NASDAQ:BL)

Numerai GP LLC reduced its position in shares of BlackLine, Inc. (NASDAQ:BL - Free Report) by 31.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,659 shares of the technology company's stock after selling 7,177 shares during the period. Numerai GP LLC's holdings in BlackLine were worth $951,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. purchased a new position in shares of BlackLine during the fourth quarter worth about $31,000. Global Retirement Partners LLC grew its holdings in shares of BlackLine by 568.4% during the fourth quarter. Global Retirement Partners LLC now owns 528 shares of the technology company's stock worth $32,000 after buying an additional 449 shares during the last quarter. Quadrant Capital Group LLC increased its position in BlackLine by 243.5% in the 4th quarter. Quadrant Capital Group LLC now owns 584 shares of the technology company's stock valued at $35,000 after acquiring an additional 414 shares during the period. Headlands Technologies LLC acquired a new stake in BlackLine during the 4th quarter worth approximately $50,000. Finally, Huntington National Bank grew its stake in shares of BlackLine by 596.4% in the 4th quarter. Huntington National Bank now owns 968 shares of the technology company's stock valued at $59,000 after purchasing an additional 829 shares during the last quarter. 95.13% of the stock is owned by hedge funds and other institutional investors.

BlackLine Price Performance

Shares of BlackLine stock traded up $0.03 on Tuesday, hitting $54.90. The company's stock had a trading volume of 99,021 shares, compared to its average volume of 804,777. 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 firm has a fifty day moving average price of $48.30 and a 200-day moving average price of $55.08. BlackLine, Inc. has a 52-week low of $40.82 and a 52-week high of $66.25. The company has a market capitalization of $3.42 billion, a P/E ratio of 37.84, a price-to-earnings-growth ratio of 10.80 and a beta of 0.94.

Analyst Upgrades and Downgrades

BL has been the subject of several analyst reports. The Goldman Sachs Group cut their price target on 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 raised their target price on shares of BlackLine from $40.00 to $45.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th. BMO Capital Markets lowered their target price on shares of BlackLine from $68.00 to $60.00 and set a "market perform" rating on the stock in a report on Wednesday, February 12th. Bank of America raised shares of BlackLine from an "underperform" rating to a "buy" rating and increased their price target for the stock from $50.00 to $75.00 in a report on Thursday, January 30th. Finally, DA Davidson reduced their price objective on shares of BlackLine from $58.00 to $55.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $60.75.

Insider Transactions at BlackLine

In other BlackLine news, CRO Mark Woodhams sold 9,088 shares of the firm'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 sale, the executive now directly owns 65,414 shares of the company's stock, valued at $3,249,113.38. This trade represents a 12.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.60% of the company's stock.

About BlackLine

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.