BlackLine, Inc. (NASDAQ:BL) Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC lessened its stake in BlackLine, Inc. (NASDAQ:BL - Free Report) by 35.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 157,171 shares of the technology company's stock after selling 84,976 shares during the quarter. Squarepoint Ops LLC owned approximately 0.25% of BlackLine worth $9,550,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new position in BlackLine in the fourth quarter worth $31,000. Global Retirement Partners LLC grew its position in BlackLine by 568.4% in the fourth quarter. Global Retirement Partners LLC now owns 528 shares of the technology company's stock worth $32,000 after acquiring an additional 449 shares in the last quarter. Quadrant Capital Group LLC boosted its position in BlackLine by 243.5% during the fourth quarter. Quadrant Capital Group LLC now owns 584 shares of the technology company's stock valued at $35,000 after buying an additional 414 shares during the period. Headlands Technologies LLC purchased a new stake in BlackLine during the fourth quarter valued at about $50,000. Finally, Huntington National Bank boosted its position in BlackLine by 596.4% during the fourth quarter. Huntington National Bank now owns 968 shares of the technology company's stock valued at $59,000 after buying an additional 829 shares during the period. Institutional investors own 95.13% of the company's stock.

BlackLine Price Performance

NASDAQ BL traded down $0.28 on Thursday, reaching $54.78. The company had a trading volume of 163,397 shares, compared to its average volume of 762,329. 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 stock has a market capitalization of $3.41 billion, a PE ratio of 37.77, a price-to-earnings-growth ratio of 10.80 and a beta of 0.94. The firm's 50 day moving average price is $49.02 and its 200 day moving average price is $54.96. BlackLine, Inc. has a 12 month low of $40.82 and a 12 month high of $66.25.

Insider Transactions at BlackLine

In related news, CRO Mark Woodhams sold 1,856 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $54.65, for a total transaction of $101,430.40. Following the completion of the transaction, the executive now owns 61,390 shares in the company, valued at $3,354,963.50. The trade was a 2.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 8.60% of the company's stock.

Wall Street Analysts Forecast Growth

BL has been the subject of a number of analyst reports. Bank of America upgraded shares of BlackLine from an "underperform" rating to a "buy" rating and increased their target price for the stock from $50.00 to $75.00 in a report on Thursday, January 30th. BMO Capital Markets reduced their price objective on BlackLine from $68.00 to $60.00 and set a "market perform" rating for the company in a research note on Wednesday, February 12th. Truist Financial upped their price objective 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 reduced their price objective on BlackLine from $80.00 to $65.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Finally, Piper Sandler upped their price objective on BlackLine from $46.00 to $50.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, BlackLine presently has an average rating of "Hold" and a consensus price target of $60.75.

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.