BlackLine, Inc. (NASDAQ:BL) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC cut its holdings in shares of BlackLine, Inc. (NASDAQ:BL) by 92.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,959 shares of the technology company’s stock after selling 37,601 shares during the period. SG Americas Securities LLC’s holdings in BlackLine were worth $185,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BL. Quarry LP boosted its position in shares of BlackLine by 1,101.9% during the first quarter. Quarry LP now owns 625 shares of the technology company’s stock worth $42,000 after buying an additional 573 shares during the period. Federated Hermes Inc. raised its holdings in BlackLine by 505.2% during the third quarter. Federated Hermes Inc. now owns 926 shares of the technology company’s stock worth $51,000 after purchasing an additional 773 shares in the last quarter. Operose Advisors LLC raised its holdings in BlackLine by 291.2% during the third quarter. Operose Advisors LLC now owns 978 shares of the technology company’s stock worth $54,000 after purchasing an additional 728 shares in the last quarter. Cutler Group LLC CA bought a new stake in BlackLine during the third quarter worth approximately $74,000. Finally, Headlands Technologies LLC bought a new stake in BlackLine during the third quarter worth approximately $79,000. 95.13% of the stock is currently owned by institutional investors and hedge funds.

BlackLine Trading Down 1.8 %

BlackLine stock opened at $63.54 on Friday. The company’s fifty day simple moving average is $62.18 and its 200-day simple moving average is $58.95. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 4.37. BlackLine, Inc. has a 12 month low of $47.26 and a 12 month high of $69.31. The stock has a market cap of $3.93 billion, a P/E ratio of -635.40, a P/E/G ratio of 11.50 and a beta of 0.86.

BlackLine (NASDAQ:BL) last posted its quarterly earnings results on Tuesday, February 13th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.26 by $0.28. BlackLine had a negative net margin of 1.50% and a positive return on equity of 2.15%. The business had revenue of $155.73 million for the quarter, compared to analysts’ expectations of $154.24 million. As a group, sell-side analysts forecast that BlackLine, Inc. will post 1.02 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Thomas Unterman sold 750 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $60.00, for a total value of $45,000.00. Following the completion of the sale, the director now directly owns 51,470 shares in the company, valued at $3,088,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Thomas Unterman sold 750 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $60.00, for a total value of $45,000.00. Following the completion of the sale, the director now directly owns 51,470 shares in the company, valued at $3,088,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kevin B. Thompson sold 4,500 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $57.50, for a total transaction of $258,750.00. Following the sale, the director now owns 11,000 shares of the company’s stock, valued at $632,500. The disclosure for this sale can be found here. 9.93% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on BL shares. Robert W. Baird dropped their target price on BlackLine from $65.00 to $61.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. Piper Sandler dropped their target price on BlackLine from $60.00 to $55.00 and set an “underweight” rating on the stock in a report on Wednesday, February 14th. William Blair cut BlackLine from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 14th. Wolfe Research initiated coverage on BlackLine in a report on Monday, March 18th. They issued a “peer perform” rating on the stock. Finally, JPMorgan Chase & Co. dropped their price target on BlackLine from $55.00 to $52.00 and set an “underweight” rating on the stock in a report on Wednesday, February 14th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.80.

BlackLine Company 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.