Great West Life Assurance Co. Can Takes $4.68 Million Position in BlackLine, Inc. (NASDAQ:BL)

Great West Life Assurance Co. Can bought a new stake in BlackLine, Inc. (NASDAQ:BL – Get Rating) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 78,078 shares of the technology company’s stock, valued at approximately $4,676,000. Great West Life Assurance Co. Can owned 0.13% of BlackLine as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Sentry Investment Management LLC purchased a new stake in shares of BlackLine in the third quarter valued at approximately $40,000. Ellevest Inc. increased its stake in shares of BlackLine by 458.5% in the 2nd quarter. Ellevest Inc. now owns 754 shares of the technology company’s stock worth $50,000 after acquiring an additional 619 shares during the last quarter. Castle Wealth Management LLC purchased a new position in shares of BlackLine during the 2nd quarter worth $72,000. Assetmark Inc. boosted its position in shares of BlackLine by 363.1% during the 2nd quarter. Assetmark Inc. now owns 1,116 shares of the technology company’s stock valued at $74,000 after acquiring an additional 875 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in shares of BlackLine by 254.2% in the second quarter. Quadrant Capital Group LLC now owns 1,222 shares of the technology company’s stock valued at $81,000 after purchasing an additional 877 shares during the period. Institutional investors and hedge funds own 99.96% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on BL shares. Berenberg Bank lowered BlackLine from a “buy” rating to a “hold” rating and set a $60.00 price objective for the company. in a research report on Wednesday, October 19th. Piper Sandler cut BlackLine from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $70.00 to $66.00 in a report on Monday, January 9th. Truist Financial lowered their price target on BlackLine from $70.00 to $55.00 in a report on Monday, November 7th. Robert W. Baird lowered their price target on BlackLine from $95.00 to $72.00 and set an “outperform” rating for the company in a report on Friday, November 4th. Finally, The Goldman Sachs Group lowered their price target on BlackLine from $57.00 to $50.00 and set a “sell” rating for the company in a report on Friday, November 4th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, BlackLine currently has an average rating of “Hold” and an average price target of $70.75.

Insider Transactions at BlackLine

In other news, Director Thomas Unterman sold 500 shares of the firm’s stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $57.12, for a total transaction of $28,560.00. Following the sale, the director now owns 51,805 shares of the company’s stock, valued at approximately $2,959,101.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Thomas Unterman sold 500 shares of the firm’s stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $57.12, for a total transaction of $28,560.00. Following the sale, the director now owns 51,805 shares of the company’s stock, valued at approximately $2,959,101.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Mark Woodhams sold 515 shares of BlackLine stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $59.75, for a total value of $30,771.25. Following the transaction, the executive now directly owns 52,416 shares in the company, valued at approximately $3,131,856. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,453 shares of company stock valued at $440,251. Corporate insiders own 9.71% of the company’s stock.

BlackLine Price Performance

BL stock opened at $68.88 on Monday. The company has a debt-to-equity ratio of 17.76, a current ratio of 3.74 and a quick ratio of 3.74. The firm has a market capitalization of $4.12 billion, a P/E ratio of -52.18 and a beta of 0.80. The business’s 50-day moving average is $66.53 and its two-hundred day moving average is $64.94. BlackLine, Inc. has a 1 year low of $48.73 and a 1 year high of $93.11.

BlackLine (NASDAQ:BL – Get Rating) last posted its quarterly earnings results on Thursday, November 3rd. The technology company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.12. The company had revenue of $134.27 million for the quarter, compared to analyst estimates of $133.73 million. BlackLine had a negative return on equity of 35.49% and a negative net margin of 15.59%. Analysts anticipate that BlackLine, Inc. will post -0.62 earnings per share for the current fiscal year.

BlackLine Company Profile

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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 high volumes of individual transactions; and task management to create and manage processes and task lists.