Riverbridge Partners LLC lessened its holdings in BlackLine (NASDAQ:BL - Free Report) by 8.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,078,004 shares of the technology company's stock after selling 98,637 shares during the quarter. Riverbridge Partners LLC owned 1.71% of BlackLine worth $52,197,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently bought and sold shares of the business. Topline Capital Management LLC bought a new position in BlackLine in the 4th quarter valued at $60,572,000. American Century Companies Inc. grew its stake in shares of BlackLine by 12,538.0% during the 4th quarter. American Century Companies Inc. now owns 896,665 shares of the technology company's stock worth $54,481,000 after acquiring an additional 889,570 shares during the period. Brown Advisory Inc. grew its stake in shares of BlackLine by 38.8% during the 4th quarter. Brown Advisory Inc. now owns 783,437 shares of the technology company's stock worth $47,602,000 after acquiring an additional 218,976 shares during the period. Northern Trust Corp grew its stake in shares of BlackLine by 14.9% during the 4th quarter. Northern Trust Corp now owns 745,397 shares of the technology company's stock worth $45,290,000 after acquiring an additional 96,523 shares during the period. Finally, Tensile Capital Management LP grew its stake in shares of BlackLine by 16.5% during the 4th quarter. Tensile Capital Management LP now owns 740,997 shares of the technology company's stock worth $45,023,000 after acquiring an additional 105,000 shares during the period. Institutional investors own 95.13% of the company's stock.
Wall Street Analyst Weigh In
BL has been the subject of several research reports. Piper Sandler increased their price target on BlackLine from $46.00 to $50.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Truist Financial increased their price target on BlackLine from $40.00 to $45.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th. Morgan Stanley cut their price target on BlackLine from $80.00 to $65.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Cantor Fitzgerald initiated coverage on BlackLine in a research note on Tuesday, June 3rd. They set a "neutral" rating and a $58.00 price target for the company. Finally, Wall Street Zen downgraded BlackLine from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, BlackLine presently has an average rating of "Hold" and a consensus target price of $60.54.
Read Our Latest Report on BL
BlackLine Price Performance
Shares of NASDAQ:BL traded down $0.18 on Friday, hitting $54.78. The company's stock had a trading volume of 1,132,816 shares, compared to its average volume of 755,627. The company has a 50-day simple moving average of $52.11 and a 200 day simple moving average of $54.34. BlackLine has a 1 year low of $40.82 and a 1 year high of $66.25. The company has a market capitalization of $3.41 billion, a PE ratio of 39.70, a PEG ratio of 9.10 and a beta of 0.94. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.66 and a quick ratio of 1.66.
Insider Buying and Selling at BlackLine
In related news, CAO Michelle D. Stalick sold 795 shares of the firm's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $55.14, for a total transaction of $43,836.30. Following the transaction, the chief accounting officer now directly owns 25,235 shares of the company's stock, valued at approximately $1,391,457.90. This trade represents a 3.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CRO Mark Woodhams sold 1,856 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $54.65, for a total value of $101,430.40. Following the transaction, the executive now directly owns 61,390 shares in the company, valued at approximately $3,354,963.50. This represents a 2.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.60% of the company's stock.
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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