Whittier Trust Co. Lowers Holdings in BlackLine, Inc. (NASDAQ:BL)

Whittier Trust Co. trimmed its holdings in BlackLine, Inc. (NASDAQ:BL) by 50.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,125 shares of the technology company’s stock after selling 2,172 shares during the period. Whittier Trust Co.’s holdings in BlackLine were worth $129,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in BL. SBI Securities Co. Ltd. purchased a new position in BlackLine in the fourth quarter worth approximately $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 during the period. GAMMA Investing LLC grew its position in BlackLine by 41.2% in the fourth quarter. GAMMA Investing LLC now owns 634 shares of the technology company’s stock worth $39,000 after acquiring an additional 185 shares during the period. Asset Management One Co. Ltd. grew its position in BlackLine by 19.8% in the fourth quarter. Asset Management One Co. Ltd. now owns 1,266 shares of the technology company’s stock worth $77,000 after acquiring an additional 209 shares during the period. Finally, KBC Group NV grew its position in BlackLine by 44.0% in the fourth quarter. KBC Group NV now owns 2,180 shares of the technology company’s stock worth $132,000 after acquiring an additional 666 shares during the period. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BL has been the subject of several research analyst reports. Truist Financial lowered their price target on BlackLine from $60.00 to $55.00 and set a “hold” rating for the company in a research report on Wednesday, February 12th. BMO Capital Markets lowered their price target on BlackLine from $68.00 to $60.00 and set a “market perform” rating for the company in a research report on Wednesday, February 12th. JMP Securities restated a “market outperform” rating and set a $86.00 price target on shares of BlackLine in a research report on Wednesday, January 15th. StockNews.com lowered BlackLine from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Finally, Citigroup lowered their price target on BlackLine from $73.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, BlackLine presently has a consensus rating of “Hold” and an average target price of $66.40.

Insider Buying and Selling at BlackLine

In other BlackLine news, CRO Mark Woodhams sold 9,088 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $49.67, for a total value of $451,400.96. Following the sale, the executive now directly owns 65,414 shares in the company, valued at $3,249,113.38. This trade represents a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.93% of the stock is owned by insiders.

BlackLine Stock Up 1.0 %

Shares of NASDAQ BL opened at $50.29 on Monday. The stock has a market cap of $3.16 billion, a P/E ratio of 34.68, a PEG ratio of 10.80 and a beta of 1.03. The company has a current ratio of 2.59, a quick ratio of 2.69 and a debt-to-equity ratio of 2.00. BlackLine, Inc. has a 12-month low of $43.37 and a 12-month high of $69.09. The business’s fifty day simple moving average is $54.93 and its 200-day simple moving average is $56.80.

BlackLine (NASDAQ:BL) last posted its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.29). BlackLine had a net margin of 24.67% and a return on equity of 21.63%. As a group, equities analysts predict that BlackLine, Inc. will post 0.9 EPS for the current fiscal year.

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.