Great West Life Assurance Co. Can Buys Shares of 78,078 BlackLine, Inc. (NASDAQ:BL)

Great West Life Assurance Co. Can bought a new stake in BlackLine, Inc. (NASDAQ:BLGet Rating) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 78,078 shares of the technology company’s stock, valued at approximately $4,676,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sentry Investment Management LLC purchased a new position in shares of BlackLine in the 3rd quarter valued at approximately $40,000. Ellevest Inc. grew its stake in shares of BlackLine by 458.5% in the 2nd quarter. Ellevest Inc. now owns 754 shares of the technology company’s stock valued at $50,000 after purchasing an additional 619 shares during the last quarter. Castle Wealth Management LLC purchased a new position in shares of BlackLine in the 2nd quarter valued at approximately $72,000. Assetmark Inc. grew its stake in shares of BlackLine by 363.1% in the 2nd quarter. Assetmark Inc. now owns 1,116 shares of the technology company’s stock valued at $74,000 after purchasing an additional 875 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its stake in shares of BlackLine by 254.2% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,222 shares of the technology company’s stock valued at $81,000 after purchasing an additional 877 shares during the last quarter. 99.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at BlackLine

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

Analyst Ratings Changes

BL has been the topic of a number of analyst reports. Berenberg Bank downgraded BlackLine from a “buy” rating to a “hold” rating and set a $60.00 price target on the stock. in a research note on Wednesday, October 19th. StockNews.com upgraded BlackLine from a “sell” rating to a “hold” rating in a research note on Wednesday, January 18th. The Goldman Sachs Group decreased their price target on BlackLine from $57.00 to $50.00 and set a “sell” rating on the stock in a research note on Friday, November 4th. JMP Securities decreased their price target on BlackLine from $112.00 to $87.00 and set a “market outperform” rating on the stock in a research note on Tuesday, October 18th. Finally, Piper Sandler cut BlackLine from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $70.00 to $66.00 in a report on Monday, January 9th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, BlackLine has a consensus rating of “Hold” and a consensus target price of $70.75.

BlackLine Stock Performance

NASDAQ BL opened at $68.88 on Monday. BlackLine, Inc. has a fifty-two week low of $48.73 and a fifty-two week high of $93.11. The stock has a market cap of $4.12 billion, a price-to-earnings ratio of -52.18 and a beta of 0.80. The business has a fifty day moving average of $66.53 and a 200-day moving average of $64.94. The company has a quick ratio of 3.74, a current ratio of 3.74 and a debt-to-equity ratio of 17.76.

BlackLine (NASDAQ:BLGet Rating) last released its earnings results on Thursday, November 3rd. The technology company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.12. The firm had revenue of $134.27 million during 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%. As a group, analysts predict that BlackLine, Inc. will post -0.62 earnings per share for the current fiscal 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.

See Also

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Institutional Ownership by Quarter for BlackLine (NASDAQ:BL)

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