Robeco Institutional Asset Management B.V. Has $6.54 Million Holdings in BlackLine (NASDAQ:BL)

Robeco Institutional Asset Management B.V. decreased its position in shares of BlackLine (NASDAQ:BL - Free Report) by 35.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & 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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. HighTower Advisors LLC increased its position in BlackLine by 2.5% during the 4th quarter. HighTower Advisors LLC now owns 6,475 shares of the technology company's stock valued at $393,000 after purchasing an additional 161 shares during the period. Arizona State Retirement System grew its position in BlackLine by 1.3% in the 4th quarter. Arizona State Retirement System now owns 15,322 shares of the technology company's stock valued at $931,000 after purchasing an additional 192 shares during the period. Covestor Ltd grew its position in BlackLine by 20.1% in the 4th quarter. Covestor Ltd now owns 1,672 shares of the technology company's stock valued at $102,000 after purchasing an additional 280 shares during the period. Xponance Inc. lifted its stake in BlackLine by 9.2% during the 4th quarter. Xponance Inc. now owns 4,142 shares of the technology company's stock valued at $252,000 after acquiring an additional 350 shares in the last quarter. Finally, Summit Investment Advisors Inc. raised its stake in shares of BlackLine by 6.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,038 shares of the technology company's stock worth $367,000 after purchasing an additional 355 shares during the period. 95.13% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CAO Michelle D. Stalick sold 795 shares of the company's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $55.14, for a total transaction of $43,836.30. Following the completion of the sale, the chief accounting officer now directly owns 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 document filed with the SEC, which is available through this link. Also, CRO Mark Woodhams sold 1,856 shares of the company'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 $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. Corporate insiders own 8.60% of the company's stock.

Analyst Upgrades and Downgrades

BL has been the subject of a number of recent analyst reports. Cantor Fitzgerald initiated coverage on BlackLine in a report on Tuesday, June 3rd. They set a "neutral" rating and a $58.00 target price for the company. Wall Street Zen lowered BlackLine from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. The Goldman Sachs Group cut their target price 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 upped their target price on BlackLine from $46.00 to $50.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Finally, Truist Financial upped their target price on BlackLine from $40.00 to $45.00 and gave the company a "hold" rating in a report on Thursday, May 8th. Two analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, BlackLine has an average rating of "Hold" and an average target price of $60.54.

BlackLine Stock Up 0.2%

BL stock opened at $56.64 on Monday. BlackLine has a twelve month low of $40.82 and a twelve month high of $66.25. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.59. The stock has a market cap of $3.53 billion, a P/E ratio of 41.04, a PEG ratio of 9.38 and a beta of 0.94. The business's 50-day moving average price is $53.26 and its 200-day moving average price is $53.95.

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.

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