Captrust Financial Advisors Sells 4,034 Shares of BlackLine, Inc. (NASDAQ:BL)

Captrust Financial Advisors reduced its position in BlackLine, Inc. (NASDAQ:BL) by 41.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,677 shares of the technology company’s stock after selling 4,034 shares during the quarter. Captrust Financial Advisors’ holdings in BlackLine were worth $345,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of BL. HighTower Advisors LLC boosted its position in BlackLine by 2.5% during the 4th quarter. HighTower Advisors LLC now owns 6,475 shares of the technology company’s stock worth $393,000 after buying an additional 161 shares during the period. Arizona State Retirement System boosted its position in BlackLine by 1.3% during the 4th quarter. Arizona State Retirement System now owns 15,322 shares of the technology company’s stock worth $931,000 after buying an additional 192 shares during the period. Louisiana State Employees Retirement System boosted its position in BlackLine by 0.8% during the 4th quarter. Louisiana State Employees Retirement System now owns 25,100 shares of the technology company’s stock worth $1,525,000 after buying an additional 200 shares during the period. Asset Management One Co. Ltd. boosted its position in BlackLine by 19.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 1,266 shares of the technology company’s stock worth $77,000 after buying an additional 209 shares during the period. Finally, Covestor Ltd boosted its position in BlackLine by 20.1% during the 4th quarter. Covestor Ltd now owns 1,672 shares of the technology company’s stock worth $102,000 after buying an additional 280 shares during the period. 95.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BL has been the topic of a number of recent analyst reports. BMO Capital Markets dropped their price target on shares of BlackLine from $68.00 to $60.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 12th. Citigroup dropped their price target on shares of BlackLine from $73.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. StockNews.com downgraded shares of BlackLine from a “buy” rating to a “hold” rating in a research report on Thursday, May 15th. Morgan Stanley dropped their price target on shares of BlackLine from $80.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Finally, Bank of America upgraded shares of BlackLine from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $50.00 to $75.00 in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $60.75.

Insider Buying and Selling at BlackLine

In related news, CRO Mark Woodhams sold 9,088 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $49.67, for a total value of $451,400.96. Following the transaction, the executive now directly owns 65,414 shares of the company’s stock, valued at approximately $3,249,113.38. The trade was a 12.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.60% of the stock is currently owned by company insiders.

BlackLine Stock Performance

Shares of BL stock opened at $55.43 on Wednesday. The firm has a market capitalization of $3.45 billion, a PE ratio of 38.23, a price-to-earnings-growth ratio of 10.80 and a beta of 0.94. The firm has a fifty day simple moving average of $48.46 and a two-hundred day simple moving average of $55.08. 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 $40.82 and a 12 month high of $66.25.

BlackLine 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.