BlackLine, Inc. (NASDAQ:BL) Shares Sold by Beck Bode LLC

Beck Bode LLC reduced its stake in BlackLine, Inc. (NASDAQ:BL) by 1.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,787 shares of the technology company’s stock after selling 465 shares during the period. Beck Bode LLC’s holdings in BlackLine were worth $1,548,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in BL. Dakota Wealth Management bought a new stake in shares of BlackLine in the 3rd quarter worth approximately $210,000. Redmond Asset Management LLC raised its holdings in shares of BlackLine by 1.7% in the 3rd quarter. Redmond Asset Management LLC now owns 53,329 shares of the technology company’s stock worth $2,958,000 after purchasing an additional 916 shares in the last quarter. Verdence Capital Advisors LLC raised its holdings in shares of BlackLine by 10.9% in the 3rd quarter. Verdence Capital Advisors LLC now owns 6,220 shares of the technology company’s stock worth $345,000 after purchasing an additional 611 shares in the last quarter. Strs Ohio raised its holdings in shares of BlackLine by 19.2% during the third quarter. Strs Ohio now owns 3,100 shares of the technology company’s stock valued at $171,000 after acquiring an additional 500 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of BlackLine by 2.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,107 shares of the technology company’s stock valued at $1,393,000 after acquiring an additional 626 shares during the period. 95.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Robert W. Baird lowered their price objective on shares of BlackLine from $65.00 to $61.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 14th. The Goldman Sachs Group boosted their price objective on shares of BlackLine from $49.00 to $54.00 and gave the company a “sell” rating in a research report on Tuesday, January 23rd. Wolfe Research started coverage on shares of BlackLine in a research report on Monday, March 18th. They set a “peer perform” rating on the stock. JPMorgan Chase & Co. decreased their target price on shares of BlackLine from $55.00 to $52.00 and set an “underweight” rating for the company in a research report on Wednesday, February 14th. Finally, William Blair downgraded shares of BlackLine from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 14th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, BlackLine has an average rating of “Hold” and an average price target of $62.20.

Insider Transactions at BlackLine

In related 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 transaction of $258,750.00. Following the transaction, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction, the director now owns 11,000 shares of the company’s stock, valued at $632,500. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Thomas Unterman sold 750 shares of BlackLine stock in a transaction that occurred 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 transaction, the director now directly owns 51,470 shares in the company, valued at approximately $3,088,200. The disclosure for this sale can be found here. 9.53% of the stock is owned by corporate insiders.

BlackLine Price Performance

BL traded down $2.23 during midday trading on Tuesday, hitting $58.05. The company had a trading volume of 914,596 shares, compared to its average volume of 894,836. The company has a debt-to-equity ratio of 4.37, a quick ratio of 2.19 and a current ratio of 2.19. The company has a market capitalization of $3.59 billion, a PE ratio of -580.50, a P/E/G ratio of 10.81 and a beta of 0.86. BlackLine, Inc. has a twelve month low of $47.26 and a twelve month high of $69.31. The firm’s 50-day simple moving average is $62.16 and its 200-day simple moving average is $59.41.

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

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.