Asset Management One Co. Ltd. Lowers Position in BlackLine, Inc. (NASDAQ:BL)

Asset Management One Co. Ltd. cut its stake in BlackLine, Inc. (NASDAQ:BL) by 82.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 966 shares of the technology company’s stock after selling 4,551 shares during the quarter. Asset Management One Co. Ltd.’s holdings in BlackLine were worth $63,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. CVA Family Office LLC purchased a new stake in BlackLine in the fourth quarter worth about $38,000. Quarry LP lifted its holdings in BlackLine by 1,101.9% in 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. lifted its holdings in BlackLine by 505.2% in the third quarter. Federated Hermes Inc. now owns 926 shares of the technology company’s stock worth $51,000 after buying an additional 773 shares during the period. Operose Advisors LLC lifted its holdings in BlackLine by 291.2% in the third quarter. Operose Advisors LLC now owns 978 shares of the technology company’s stock worth $54,000 after buying an additional 728 shares during the period. Finally, Cutler Group LLC CA purchased a new stake in BlackLine in the third quarter worth about $74,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

BlackLine Price Performance

Shares of NASDAQ BL opened at $63.54 on Monday. BlackLine, Inc. has a twelve month low of $47.26 and a twelve month high of $69.31. The firm has a market cap of $3.93 billion, a P/E ratio of -635.40, a PEG ratio of 11.29 and a beta of 0.86. The company has a 50 day moving average of $62.18 and a 200 day moving average of $58.99. 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 (NASDAQ:BL) last announced its quarterly earnings data on Tuesday, February 13th. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $155.73 million during the quarter, compared to analyst estimates of $154.24 million. As a group, research analysts expect that BlackLine, Inc. will post 1.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. The Goldman Sachs Group raised their price objective on shares of BlackLine from $49.00 to $54.00 and gave the stock a “sell” rating in a report on Tuesday, January 23rd. JPMorgan Chase & Co. lowered their target price on shares of BlackLine from $55.00 to $52.00 and set an “underweight” rating for the company in a report on Wednesday, February 14th. William Blair lowered shares of BlackLine from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 14th. Robert W. Baird lowered their target price on shares of BlackLine from $65.00 to $61.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. Finally, JMP Securities reiterated a “market outperform” rating and set a $81.00 target price on shares of BlackLine in a report on Wednesday, February 14th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, BlackLine has an average rating of “Hold” and a consensus target price of $61.80.

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.