Squarepoint Ops LLC Has $9.55 Million Holdings in BlackLine, Inc. (NASDAQ:BL)

Squarepoint Ops LLC lowered its holdings in BlackLine, Inc. (NASDAQ:BL - Free Report) by 35.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 157,171 shares of the technology company's stock after selling 84,976 shares during the period. Squarepoint Ops LLC owned approximately 0.25% of BlackLine worth $9,550,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Conestoga Capital Advisors LLC grew its holdings in BlackLine by 20.2% during the fourth quarter. Conestoga Capital Advisors LLC now owns 2,113,882 shares of the technology company's stock worth $128,439,000 after acquiring an additional 354,784 shares during the period. Topline Capital Management LLC purchased a new stake in shares of BlackLine during the 4th quarter worth $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 purchasing 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 purchasing an additional 218,976 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of BlackLine by 14.9% in the 4th quarter. Northern Trust Corp now owns 745,397 shares of the technology company's stock valued at $45,290,000 after purchasing an additional 96,523 shares in the last quarter. Institutional investors and hedge funds own 95.13% of the company's stock.

Analysts Set New Price Targets

BL has been the topic of a number of research reports. BMO Capital Markets lowered their price target on BlackLine from $68.00 to $60.00 and set a "market perform" rating on the stock in a report on Wednesday, February 12th. DA Davidson lowered their target price on BlackLine from $58.00 to $55.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Wall Street Zen cut BlackLine from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Piper Sandler boosted their price objective on shares of BlackLine from $46.00 to $50.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Finally, Truist Financial increased their price objective on shares of BlackLine from $40.00 to $45.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $60.75.

BlackLine Price Performance

Shares of NASDAQ:BL traded down $0.14 on Wednesday, reaching $55.05. 541,628 shares of the company traded hands, compared to its average volume of 768,391. The stock has a market capitalization of $3.43 billion, a PE ratio of 37.97, a P/E/G ratio of 10.80 and a beta of 0.94. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.59 and a quick ratio of 2.69. The company's 50 day moving average is $48.93 and its 200-day moving average is $54.96. BlackLine, Inc. has a fifty-two week low of $40.82 and a fifty-two week high of $66.25.

Insider Buying and Selling at BlackLine

In other news, CRO Mark Woodhams sold 1,856 shares of the firm's 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 completion of the sale, the executive now directly owns 61,390 shares of the company's stock, valued at $3,354,963.50. This trade represents a 2.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 8.60% of the company's stock.

BlackLine 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.