Strs Ohio Sells 500 Shares of BlackLine, Inc. (NASDAQ:BL)

Strs Ohio trimmed its holdings in shares of BlackLine, Inc. (NASDAQ:BLGet Rating) by 9.8% in the third quarter, Holdings Channel.com reports. The firm owned 4,600 shares of the technology company’s stock after selling 500 shares during the quarter. Strs Ohio’s holdings in BlackLine were worth $275,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Ellevest Inc. increased its stake in BlackLine by 458.5% during the 2nd 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. Resources Investment Advisors LLC. bought a new position in shares of BlackLine during the 2nd quarter worth approximately $225,000. Bell Bank grew its stake in shares of BlackLine by 5.3% during the 2nd quarter. Bell Bank now owns 14,159 shares of the technology company’s stock worth $943,000 after acquiring an additional 713 shares in the last quarter. Nicholas Company Inc. grew its stake in shares of BlackLine by 27.5% during the 2nd quarter. Nicholas Company Inc. now owns 105,125 shares of the technology company’s stock worth $7,001,000 after acquiring an additional 22,695 shares in the last quarter. Finally, Versor Investments LP bought a new position in shares of BlackLine during the 3rd quarter worth approximately $946,000. 99.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

BL has been the subject of several research reports. The Goldman Sachs Group decreased their price target on shares of BlackLine from $57.00 to $50.00 and set a “sell” rating for the company in a research note on Friday, November 4th. Piper Sandler cut shares of BlackLine from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $70.00 to $66.00 in a research note on Monday, January 9th. Credit Suisse Group initiated coverage on shares of BlackLine in a research note on Friday, September 23rd. They issued a “neutral” rating and a $75.00 target price for the company. Truist Financial decreased their target price on shares of BlackLine from $70.00 to $55.00 in a research note on Monday, November 7th. Finally, JMP Securities decreased their target price on shares of BlackLine from $112.00 to $87.00 and set a “market outperform” rating for the company in a research note on Tuesday, October 18th. Three analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, BlackLine has a consensus rating of “Hold” and a consensus target price of $70.75.

Insider Transactions at BlackLine

In other news, Director Thomas Unterman sold 500 shares of BlackLine stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $67.46, for a total transaction of $33,730.00. Following the completion of the sale, the director now owns 51,998 shares of the company’s stock, valued at $3,507,785.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Thomas Unterman sold 500 shares of the business’s stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $67.46, for a total value of $33,730.00. Following the completion of the transaction, the director now owns 51,998 shares of the company’s stock, valued at $3,507,785.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CRO Mark Woodhams sold 3,941 shares of the business’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $57.82, for a total value of $227,868.62. Following the completion of the transaction, the executive now directly owns 54,288 shares of the company’s stock, valued at approximately $3,138,932.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,453 shares of company stock valued at $440,251. 9.71% of the stock is currently owned by corporate insiders.

BlackLine Trading Up 4.5 %

Shares of BlackLine stock opened at $68.88 on Friday. BlackLine, Inc. has a 1 year low of $48.73 and a 1 year high of $93.11. The company has a debt-to-equity ratio of 17.76, a current ratio of 3.74 and a quick ratio of 3.74. The company has a market capitalization of $4.12 billion, a price-to-earnings ratio of -52.18 and a beta of 0.80. The business has a fifty day simple moving average of $66.53 and a two-hundred day simple moving average of $65.03.

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

About BlackLine

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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.

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Institutional Ownership by Quarter for BlackLine (NASDAQ:BL)

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