BlackLine, Inc. (NASDAQ:BL) Stake Reduced by Versor Investments LP

Versor Investments LP decreased its position in shares of BlackLine, Inc. (NASDAQ:BL) by 32.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 16,951 shares of the technology company’s stock after selling 8,057 shares during the quarter. Versor Investments LP’s holdings in BlackLine were worth $935,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of BL. Quadrature Capital Ltd increased its position in BlackLine by 346.5% in the 1st quarter. Quadrature Capital Ltd now owns 31,846 shares of the technology company’s stock valued at $2,055,000 after acquiring an additional 24,713 shares during the period. Cetera Investment Advisers bought a new stake in shares of BlackLine during the first quarter valued at about $1,572,000. Comerica Bank raised its stake in shares of BlackLine by 11.8% during the first quarter. Comerica Bank now owns 124,266 shares of the technology company’s stock valued at $8,025,000 after purchasing an additional 13,066 shares in the last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in BlackLine in the first quarter worth about $907,000. Finally, Vanguard Group Inc. grew its position in BlackLine by 9.5% in the 1st quarter. Vanguard Group Inc. now owns 7,380,961 shares of the technology company’s stock valued at $476,662,000 after buying an additional 642,772 shares in the last quarter. Institutional investors own 95.13% of the company’s stock.

BlackLine Stock Down 2.2 %

Shares of NASDAQ:BL opened at $61.15 on Wednesday. BlackLine, Inc. has a 52 week low of $43.37 and a 52 week high of $69.31. The company has a debt-to-equity ratio of 2.74, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market cap of $3.80 billion, a PE ratio of 62.40, a price-to-earnings-growth ratio of 14.79 and a beta of 0.90. The firm has a 50 day simple moving average of $54.42 and a 200 day simple moving average of $51.62.

Insider Transactions at BlackLine

In other news, CRO Mark Woodhams sold 1,387 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $51.70, for a total transaction of $71,707.90. Following the transaction, the executive now directly owns 97,582 shares in the company, valued at $5,044,989.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other BlackLine news, CFO Mark Partin sold 5,648 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $53.00, for a total value of $299,344.00. Following the completion of the sale, the chief financial officer now owns 226,844 shares of the company’s stock, valued at $12,022,732. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Mark Woodhams sold 1,387 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $51.70, for a total value of $71,707.90. Following the transaction, the executive now directly owns 97,582 shares in the company, valued at approximately $5,044,989.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 135,495 shares of company stock valued at $7,560,534 over the last quarter. Company insiders own 9.93% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BL. Piper Sandler upped their price target on shares of BlackLine from $51.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. BTIG Research decreased their price target on BlackLine from $71.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Morgan Stanley upgraded BlackLine from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $60.00 to $70.00 in a research report on Monday, September 30th. Truist Financial raised their target price on BlackLine from $55.00 to $60.00 and gave the company a “hold” rating in a research note on Monday. Finally, JPMorgan Chase & Co. upped their price target on shares of BlackLine from $47.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $62.60.

BlackLine Profile

BlackLine, Inc provides cloud-based solutions to automate and streamline accounting and finance operations worldwide. It offers financial close management solutions, such as account reconciliations that provides a centralized workspace for users to collaborate on account reconciliations; transaction matching that analyzes and reconciles individual transactions; task management to create and manage processes and task lists; and financial reporting analytics that enables analysis and validation of financial data.