BlackLine, Inc. (NASDAQ:BL) Shares Sold by DF Dent & Co. Inc.

DF Dent & Co. Inc. reduced its position in BlackLine, Inc. (NASDAQ:BL) by 17.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 242,977 shares of the technology company’s stock after selling 51,679 shares during the quarter. DF Dent & Co. Inc. owned about 0.39% of BlackLine worth $13,398,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Cetera Investment Advisers purchased a new stake in shares of BlackLine during the 1st quarter worth $1,572,000. Point72 DIFC Ltd purchased a new stake in shares of BlackLine during the 2nd quarter worth $537,000. Susquehanna Fundamental Investments LLC boosted its position in shares of BlackLine by 430.5% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 90,403 shares of the technology company’s stock worth $4,380,000 after purchasing an additional 73,362 shares in the last quarter. Icon Wealth Advisors LLC boosted its position in shares of BlackLine by 307.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 16,452 shares of the technology company’s stock worth $907,000 after buying an additional 12,415 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of BlackLine by 61.9% in the 3rd quarter. Victory Capital Management Inc. now owns 25,677 shares of the technology company’s stock worth $1,416,000 after buying an additional 9,820 shares in the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Karole Morgan-Prager sold 27,079 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $60.06, for a total transaction of $1,626,364.74. Following the completion of the sale, the insider now directly owns 113,865 shares of the company’s stock, valued at $6,838,731.90. This trade represents a 19.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark Partin sold 5,648 shares of BlackLine stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $53.00, for a total value of $299,344.00. Following the sale, the chief financial officer now owns 226,844 shares of the company’s stock, valued at approximately $12,022,732. This represents a 2.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 134,108 shares of company stock worth $7,488,826. 9.93% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on BL shares. Morgan Stanley boosted their price objective on shares of BlackLine from $70.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Truist Financial boosted their price objective on shares of BlackLine from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Piper Sandler restated a “neutral” rating and issued a $60.00 target price on shares of BlackLine in a report on Wednesday, November 20th. JMP Securities upped their target price on shares of BlackLine from $81.00 to $86.00 and gave the company a “market outperform” rating in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. upped their target price 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 issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $64.10.

BlackLine Trading Up 2.1 %

Shares of BL opened at $64.23 on Friday. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 2.42. BlackLine, Inc. has a 1-year low of $43.37 and a 1-year high of $69.31. The stock has a market capitalization of $4.01 billion, a P/E ratio of 65.54, a P/E/G ratio of 14.91 and a beta of 0.90. The business’s 50-day moving average price is $58.52 and its 200 day moving average price is $52.04.

About BlackLine

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.