Robeco Institutional Asset Management B.V. Sells 75,000 Shares of BlackLine (NASDAQ:BL)

Robeco Institutional Asset Management B.V. lowered its position in BlackLine (NASDAQ:BL - Free Report) by 35.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 135,000 shares of the technology company's stock after selling 75,000 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.21% of BlackLine worth $6,537,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of BL. Topline Capital Management LLC acquired a new stake in BlackLine during the fourth quarter worth $60,572,000. American Century Companies Inc. raised its stake in shares of BlackLine by 12,538.0% in the 4th 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. Westwood Holdings Group Inc. bought a new position in shares of BlackLine during the 4th quarter worth about $34,928,000. Raymond James Financial Inc. acquired a new stake in shares of BlackLine during the 4th quarter valued at about $23,770,000. Finally, Shannon River Fund Management LLC bought a new stake in BlackLine in the fourth quarter valued at about $19,827,000. Institutional investors own 95.13% of the company's stock.

BlackLine Price Performance

BlackLine stock traded up $0.82 on Thursday, reaching $57.78. The company's stock had a trading volume of 296,408 shares, compared to its average volume of 729,041. The business's fifty day moving average price is $54.00 and its 200 day moving average price is $53.95. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.66 and a current ratio of 1.66. The company has a market cap of $3.60 billion, a price-to-earnings ratio of 41.87, a PEG ratio of 9.51 and a beta of 0.93. BlackLine has a twelve month low of $40.82 and a twelve month high of $66.25.

Analysts Set New Price Targets

BL has been the subject of a number of analyst reports. Piper Sandler raised their price target on shares of 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 target price on BlackLine from $40.00 to $45.00 and gave the stock a "hold" rating in a report on Thursday, May 8th. Cantor Fitzgerald started coverage on BlackLine in a research report on Tuesday, June 3rd. They set a "neutral" rating and a $58.00 target price for the company. Morgan Stanley lowered their price target on BlackLine from $80.00 to $65.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, Wall Street Zen lowered BlackLine from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $60.54.

Insider Transactions at BlackLine

In related news, CAO Michelle D. Stalick sold 795 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $55.14, for a total transaction of $43,836.30. Following the transaction, the chief accounting officer owned 25,235 shares in the company, valued at $1,391,457.90. This represents a 3.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Mark Woodhams sold 1,856 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $54.65, for a total transaction of $101,430.40. Following the sale, the executive directly owned 61,390 shares in the company, valued at approximately $3,354,963.50. This represents a 2.93% decrease in their position. The disclosure for this sale can be found here. Insiders own 8.60% of the company's stock.

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.