CANADA LIFE ASSURANCE Co Has $7.79 Million Position in BlackLine, Inc. (NASDAQ:BL)

CANADA LIFE ASSURANCE Co trimmed its position in BlackLine, Inc. (NASDAQ:BL - Free Report) by 9.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 128,321 shares of the technology company's stock after selling 12,652 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.21% of BlackLine worth $7,794,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. American Century Companies Inc. boosted its holdings in 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 acquiring an additional 889,570 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of BlackLine by 35.3% during the third quarter. JPMorgan Chase & Co. now owns 1,666,591 shares of the technology company's stock valued at $91,896,000 after purchasing an additional 435,271 shares during the period. Raymond James Financial Inc. acquired a new position in BlackLine in the 4th quarter worth $23,770,000. Conestoga Capital Advisors LLC boosted its holdings 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 valued at $128,439,000 after purchasing an additional 354,784 shares during the last quarter. Finally, Shannon River Fund Management LLC acquired a new position in shares of BlackLine in the 4th quarter valued at approximately $19,827,000. 95.13% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at BlackLine

In other BlackLine news, CRO Mark Woodhams sold 9,088 shares of the stock in a transaction on Friday, February 21st. The stock was 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 directly owns 65,414 shares of the company's stock, valued at approximately $3,249,113.38. This trade represents a 12.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BL. DA Davidson dropped 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 target price on shares of BlackLine from $55.00 to $40.00 and set a "hold" rating on the stock in a research note on Monday, April 7th. The Goldman Sachs Group decreased 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. Piper Sandler upgraded BlackLine from an "underweight" rating to a "neutral" rating and decreased their target price for the stock from $58.00 to $46.00 in a research report on Wednesday, April 23rd. Finally, BMO Capital Markets lowered their price target on BlackLine from $68.00 to $60.00 and set a "market perform" rating for the company in a report on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, BlackLine currently has a consensus rating of "Hold" and a consensus price target of $60.00.

BlackLine Stock Performance

Shares of NASDAQ:BL traded down $0.37 during trading hours on Monday, hitting $46.85. The stock had a trading volume of 437,952 shares, compared to its average volume of 804,939. The stock's fifty day simple moving average is $47.46 and its 200 day simple moving average is $55.68. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 32.31, a PEG ratio of 10.80 and a beta of 0.97. The company has a debt-to-equity ratio of 2.00, a quick ratio of 2.69 and a current ratio of 2.59. BlackLine, Inc. has a 1-year low of $40.82 and a 1-year high of $66.25.

BlackLine (NASDAQ:BL - Get Free Report) last announced its earnings results on Tuesday, February 11th. The technology company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.29). BlackLine had a net margin of 24.67% and a return on equity of 21.63%. Sell-side analysts anticipate that BlackLine, Inc. will post 0.9 earnings per share for the current fiscal 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.