Daiwa Securities Group Inc. Has $1.92 Million Stake in BlackLine, Inc. (NASDAQ:BL)

Daiwa Securities Group Inc. lessened its stake in shares of BlackLine, Inc. (NASDAQ:BLFree Report) by 21.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 29,783 shares of the technology company’s stock after selling 8,000 shares during the period. Daiwa Securities Group Inc.’s holdings in BlackLine were worth $1,923,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of BL. CWM LLC grew its position in BlackLine by 94.8% in the 4th quarter. CWM LLC now owns 452 shares of the technology company’s stock valued at $28,000 after purchasing an additional 220 shares during the period. NBC Securities Inc. lifted its position in BlackLine by 2.5% in the 4th quarter. NBC Securities Inc. now owns 11,854 shares of the technology company’s stock valued at $740,000 after acquiring an additional 285 shares in the last quarter. Portside Wealth Group LLC boosted its stake in BlackLine by 4.6% during the 4th quarter. Portside Wealth Group LLC now owns 8,091 shares of the technology company’s stock valued at $505,000 after purchasing an additional 359 shares during the last quarter. TFO Wealth Partners LLC increased its holdings in BlackLine by 9,080.0% during the 4th quarter. TFO Wealth Partners LLC now owns 459 shares of the technology company’s stock worth $312,000 after purchasing an additional 454 shares in the last quarter. Finally, Baker Tilly Wealth Management LLC increased its holdings in BlackLine by 8.6% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 6,026 shares of the technology company’s stock worth $376,000 after purchasing an additional 479 shares in the last quarter. 95.13% of the stock is owned by institutional investors.

BlackLine Stock Down 3.2 %

BL stock opened at $47.21 on Wednesday. The stock has a fifty day moving average of $50.74 and a 200-day moving average of $57.43. BlackLine, Inc. has a fifty-two week low of $43.79 and a fifty-two week high of $69.31. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of 205.26, a PEG ratio of 5.57 and a beta of 0.86. The company has a debt-to-equity ratio of 4.08, a quick ratio of 2.30 and a current ratio of 2.30.

BlackLine (NASDAQ:BLGet Free Report) last issued its earnings results on Tuesday, May 7th. The technology company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.10. BlackLine had a net margin of 2.30% and a return on equity of 9.07%. The firm had revenue of $157.46 million during the quarter, compared to analyst estimates of $155.05 million. As a group, equities research analysts predict that BlackLine, Inc. will post 1.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BL. William Blair upgraded BlackLine to a “hold” rating in a report on Tuesday, May 7th. Citigroup lowered their target price on shares of BlackLine from $62.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, June 28th. BMO Capital Markets boosted their price target on shares of BlackLine from $65.00 to $67.00 and gave the stock a “market perform” rating in a report on Wednesday, May 8th. Wolfe Research assumed coverage on shares of BlackLine in a research note on Monday, March 18th. They issued a “peer perform” rating for the company. Finally, Piper Sandler upgraded BlackLine from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $55.00 to $62.00 in a research note on Tuesday, April 23rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, BlackLine presently has a consensus rating of “Hold” and a consensus price target of $63.56.

Get Our Latest Report on BL

Insider Buying and Selling at BlackLine

In related news, CRO Mark Woodhams sold 2,877 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $58.00, for a total transaction of $166,866.00. Following the sale, the executive now owns 104,682 shares of the company’s stock, valued at approximately $6,071,556. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Mark Partin sold 50,000 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $47.38, for a total value of $2,369,000.00. Following the transaction, the chief financial officer now owns 229,341 shares of the company’s stock, valued at $10,866,176.58. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CRO Mark Woodhams sold 2,877 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $58.00, for a total value of $166,866.00. Following the completion of the sale, the executive now owns 104,682 shares in the company, valued at approximately $6,071,556. The disclosure for this sale can be found here. Insiders own 9.53% of the company’s stock.

BlackLine Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for BlackLine (NASDAQ:BL)

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