BlackLine, Inc. (NASDAQ:BL) Shares Bought by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. grew its position in shares of BlackLine, Inc. (NASDAQ:BLGet Rating) by 7.4% during the third quarter, Holdings Channel reports. The firm owned 8,743 shares of the technology company’s stock after acquiring an additional 603 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in BlackLine were worth $524,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in BL. Ellevest Inc. lifted its stake in BlackLine by 458.5% during the second quarter. Ellevest Inc. now owns 754 shares of the technology company’s stock worth $50,000 after purchasing an additional 619 shares in the last quarter. Castle Wealth Management LLC purchased a new stake in shares of BlackLine during the second quarter worth $72,000. Assetmark Inc. increased its position in shares of BlackLine by 363.1% during the second quarter. Assetmark Inc. now owns 1,116 shares of the technology company’s stock worth $74,000 after acquiring an additional 875 shares during the period. Quadrant Capital Group LLC increased its position in shares of BlackLine by 254.2% during the second quarter. Quadrant Capital Group LLC now owns 1,222 shares of the technology company’s stock worth $81,000 after acquiring an additional 877 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in shares of BlackLine by 292.3% during the second quarter. Nisa Investment Advisors LLC now owns 1,530 shares of the technology company’s stock worth $102,000 after acquiring an additional 1,140 shares during the period. 99.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at BlackLine

In other news, Director Thomas Unterman sold 500 shares of the stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $57.12, for a total transaction of $28,560.00. Following the completion of the sale, the director now owns 51,805 shares in the company, valued at $2,959,101.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CRO Mark Woodhams sold 515 shares of the stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $59.75, for a total transaction of $30,771.25. Following the completion of the sale, the executive now owns 52,416 shares in the company, valued at $3,131,856. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas Unterman sold 500 shares of the stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $57.12, for a total transaction of $28,560.00. Following the sale, the director now owns 51,805 shares of the company’s stock, valued at approximately $2,959,101.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,453 shares of company stock worth $440,251. Company insiders own 9.71% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Piper Sandler cut their price objective on BlackLine from $85.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, October 20th. Truist Financial cut their price objective on BlackLine from $70.00 to $55.00 in a research report on Monday, November 7th. Robert W. Baird dropped their target price on BlackLine from $95.00 to $72.00 and set an “outperform” rating on the stock in a report on Friday, November 4th. Berenberg Bank lowered BlackLine from a “buy” rating to a “hold” rating and set a $60.00 target price on the stock. in a report on Wednesday, October 19th. Finally, Credit Suisse Group started coverage on BlackLine in a report on Friday, September 23rd. They issued a “neutral” rating and a $75.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $71.25.

BlackLine Stock Performance

Shares of BL stock opened at $66.44 on Friday. The stock’s 50-day moving average is $63.61 and its two-hundred day moving average is $65.01. The firm has a market cap of $3.97 billion, a price-to-earnings ratio of -50.33 and a beta of 0.80. BlackLine, Inc. has a 1 year low of $48.73 and a 1 year high of $100.45. The company has a debt-to-equity ratio of 17.76, a quick ratio of 3.74 and a current ratio of 3.74.

BlackLine (NASDAQ:BLGet Rating) last issued its quarterly earnings data on Thursday, November 3rd. The technology company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.12. The company had revenue of $134.27 million for the quarter, compared to analyst estimates of $133.73 million. BlackLine had a negative return on equity of 35.49% and a negative net margin of 15.59%. Analysts predict that BlackLine, Inc. will post -0.62 earnings per share for the current year.

BlackLine Company Profile

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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 high volumes of individual transactions; and task management to create and manage processes and task lists.

See Also

Want to see what other hedge funds are holding BL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackLine, Inc. (NASDAQ:BLGet Rating).

Institutional Ownership by Quarter for BlackLine (NASDAQ:BL)

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