BlackLine, Inc. (NASDAQ:BL) Shares Sold by Fiera Capital Corp

Fiera Capital Corp cut its holdings in BlackLine, Inc. (NASDAQ:BLFree Report) by 6.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,385 shares of the technology company’s stock after selling 3,204 shares during the quarter. Fiera Capital Corp owned 0.08% of BlackLine worth $2,896,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. CWM LLC boosted its holdings in BlackLine by 94.8% in the 4th quarter. CWM LLC now owns 452 shares of the technology company’s stock worth $28,000 after buying an additional 220 shares during the last quarter. CVA Family Office LLC acquired a new stake in shares of BlackLine in the fourth quarter worth approximately $38,000. Federated Hermes Inc. increased its position in shares of BlackLine by 505.2% during the third quarter. Federated Hermes Inc. now owns 926 shares of the technology company’s stock worth $51,000 after purchasing an additional 773 shares in the last quarter. Operose Advisors LLC raised its stake in BlackLine by 291.2% in the 3rd quarter. Operose Advisors LLC now owns 978 shares of the technology company’s stock valued at $54,000 after purchasing an additional 728 shares during the last quarter. Finally, Cutler Group LLC CA acquired a new position in BlackLine in the 3rd quarter valued at $74,000. 95.13% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other BlackLine news, CRO Mark Woodhams sold 2,877 shares of BlackLine stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $58.00, for a total transaction of $166,866.00. Following the transaction, the executive now owns 104,682 shares of the company’s stock, valued at $6,071,556. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Director Kevin B. Thompson sold 4,500 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $57.50, for a total value of $258,750.00. Following the completion of the sale, the director now directly owns 11,000 shares of the company’s stock, valued at $632,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CRO Mark Woodhams sold 2,877 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $58.00, for a total value of $166,866.00. Following the transaction, the executive now directly owns 104,682 shares in the company, valued at approximately $6,071,556. The disclosure for this sale can be found here. Corporate insiders own 9.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BL. The Goldman Sachs Group upped their target price on shares of BlackLine from $49.00 to $54.00 and gave the stock a “sell” rating in a report on Tuesday, January 23rd. William Blair upgraded BlackLine to a “hold” rating in a research note on Tuesday, May 7th. BMO Capital Markets upped their price target on BlackLine from $65.00 to $67.00 and gave the stock a “market perform” rating in a report on Wednesday, May 8th. Citigroup decreased their price objective on BlackLine from $66.00 to $63.00 and set a “neutral” rating for the company in a research note on Tuesday, April 23rd. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $81.00 target price on shares of BlackLine in a report on Wednesday, February 14th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, BlackLine currently has a consensus rating of “Hold” and an average price target of $64.10.

Check Out Our Latest Stock Analysis on BlackLine

BlackLine Stock Down 1.0 %

BlackLine stock traded down $0.61 during mid-day trading on Friday, hitting $58.46. The company had a trading volume of 381,497 shares, compared to its average volume of 867,911. The stock has a market cap of $3.61 billion, a price-to-earnings ratio of 254.17, a PEG ratio of 6.79 and a beta of 0.87. The company has a quick ratio of 2.30, a current ratio of 2.30 and a debt-to-equity ratio of 4.08. BlackLine, Inc. has a 1 year low of $47.26 and a 1 year high of $69.31. The business has a fifty day moving average of $61.89 and a 200 day moving average of $59.94.

BlackLine (NASDAQ:BLGet Free Report) last announced its quarterly earnings results on Tuesday, February 13th. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.26 by $0.28. BlackLine had a net margin of 2.30% and a return on equity of 9.07%. The firm had revenue of $155.73 million for the quarter, compared to analyst estimates of $154.24 million. On average, sell-side analysts expect that BlackLine, Inc. will post 1.1 earnings per share for the current fiscal year.

About BlackLine

(Free Report)

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.

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Institutional Ownership by Quarter for BlackLine (NASDAQ:BL)

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