Marshall Wace LLP Sells 16,979 Shares of BlackLine, Inc. (NASDAQ:BL)

Marshall Wace LLP trimmed its holdings in BlackLine, Inc. (NASDAQ:BL - Free Report) by 18.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,947 shares of the technology company's stock after selling 16,979 shares during the period. Marshall Wace LLP owned 0.12% of BlackLine worth $4,615,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in BL. American Century Companies Inc. raised its position 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. JPMorgan Chase & Co. raised its position in BlackLine by 35.3% during the third quarter. JPMorgan Chase & Co. now owns 1,666,591 shares of the technology company's stock valued at $91,896,000 after purchasing an additional 435,271 shares in the last quarter. Raymond James Financial Inc. bought a new stake in BlackLine during the fourth quarter worth $23,770,000. Conestoga Capital Advisors LLC boosted its holdings in shares of BlackLine by 20.2% in the 4th quarter. Conestoga Capital Advisors LLC now owns 2,113,882 shares of the technology company's stock valued at $128,439,000 after purchasing an additional 354,784 shares in the last quarter. Finally, Shannon River Fund Management LLC bought a new position in shares of BlackLine in the 4th quarter valued at $19,827,000. 95.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CRO Mark Woodhams sold 9,088 shares of BlackLine stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $49.67, for a total value of $451,400.96. Following the completion of the sale, the executive now owns 65,414 shares of the company's stock, valued at approximately $3,249,113.38. This trade represents a 12.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 8.60% of the stock is owned by insiders.

BlackLine Stock Down 1.2 %

Shares of BL stock traded down $0.57 on Wednesday, hitting $47.23. The stock had a trading volume of 583,827 shares, compared to its average volume of 803,586. BlackLine, Inc. has a 12-month low of $40.82 and a 12-month high of $66.25. 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 business has a 50 day moving average of $47.43 and a 200 day moving average of $55.62. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of 32.57, a price-to-earnings-growth ratio of 10.80 and a beta of 0.97.

BlackLine (NASDAQ:BL - Get Free Report) last posted its earnings results on Tuesday, February 11th. The technology company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.29). BlackLine had a return on equity of 21.63% and a net margin of 24.67%. As a group, analysts expect that BlackLine, Inc. will post 0.9 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Piper Sandler raised BlackLine from an "underweight" rating to a "neutral" rating and reduced their price objective for the company from $58.00 to $46.00 in a research note on Wednesday, April 23rd. Bank of America upgraded shares of BlackLine from an "underperform" rating to a "buy" rating and raised their price target for the company from $50.00 to $75.00 in a research note on Thursday, January 30th. Citigroup decreased their target price on shares of BlackLine from $73.00 to $70.00 and set a "buy" rating on the stock in a research note on Wednesday, February 12th. BMO Capital Markets dropped their price target 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. Finally, Morgan Stanley decreased their price objective on BlackLine from $80.00 to $65.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $60.00.

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.