Riverbridge Partners LLC lessened its position in shares of BlackLine, Inc. (NASDAQ:BL – Get Rating) by 3.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,085,836 shares of the technology company’s stock after selling 63,414 shares during the quarter. BlackLine makes up about 2.1% of Riverbridge Partners LLC’s holdings, making the stock its 11th largest position. Riverbridge Partners LLC owned about 3.49% of BlackLine worth $140,314,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in BL. Synovus Financial Corp raised its stake in BlackLine by 1.7% in the 2nd quarter. Synovus Financial Corp now owns 8,462 shares of the technology company’s stock valued at $561,000 after purchasing an additional 144 shares during the last quarter. SRS Capital Advisors Inc. raised its stake in BlackLine by 5.6% in the 2nd quarter. SRS Capital Advisors Inc. now owns 2,812 shares of the technology company’s stock valued at $187,000 after purchasing an additional 150 shares during the last quarter. Neuberger Berman Group LLC raised its stake in BlackLine by 0.8% in the 1st quarter. Neuberger Berman Group LLC now owns 23,544 shares of the technology company’s stock valued at $1,724,000 after purchasing an additional 176 shares during the last quarter. MGO One Seven LLC raised its stake in BlackLine by 4.4% in the 2nd quarter. MGO One Seven LLC now owns 4,857 shares of the technology company’s stock valued at $323,000 after purchasing an additional 204 shares during the last quarter. Finally, Diversified Trust Co increased its stake in shares of BlackLine by 2.0% during the 3rd quarter. Diversified Trust Co now owns 11,432 shares of the technology company’s stock valued at $685,000 after acquiring an additional 225 shares during the last quarter. Institutional investors and hedge funds own 99.96% of the company’s stock.
Insider Buying and Selling
In related news, Director Thomas Unterman sold 500 shares of BlackLine stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $71.80, for a total transaction of $35,900.00. Following the sale, the director now owns 52,407 shares of the company’s stock, valued at approximately $3,762,822.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Marc Huffman sold 19,650 shares of the business’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $70.85, for a total value of $1,392,202.50. Following the completion of the sale, the chief executive officer now owns 304,516 shares of the company’s stock, valued at approximately $21,574,958.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas Unterman sold 500 shares of the business’s stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $71.80, for a total transaction of $35,900.00. Following the completion of the sale, the director now directly owns 52,407 shares of the company’s stock, valued at approximately $3,762,822.60. The disclosure for this sale can be found here. Insiders have sold 61,275 shares of company stock valued at $4,317,716 in the last quarter. Company insiders own 9.71% of the company’s stock.
BlackLine Trading Up 0.9 %
BlackLine stock opened at $66.75 on Friday. BlackLine, Inc. has a 12-month low of $48.73 and a 12-month high of $79.23. The company has a quick ratio of 3.40, a current ratio of 3.40 and a debt-to-equity ratio of 12.38. The firm’s fifty day moving average price is $70.03 and its 200 day moving average price is $65.58.
BlackLine (NASDAQ:BL – Get Rating) last released its quarterly earnings results on Tuesday, February 14th. The technology company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.22. BlackLine had a negative net margin of 5.62% and a negative return on equity of 35.01%. The firm had revenue of $139.96 million for the quarter, compared to the consensus estimate of $139.17 million. Analysts anticipate that BlackLine, Inc. will post -0.2 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several research firms recently issued reports on BL. Citigroup raised their target price on shares of BlackLine from $63.00 to $65.00 and gave the stock a “sell” rating in a research report on Wednesday, February 15th. Piper Sandler reaffirmed a “neutral” rating and set a $64.00 price target on shares of BlackLine in a research note on Monday, March 6th. StockNews.com initiated coverage on shares of BlackLine in a research note on Thursday. They set a “hold” rating on the stock. Truist Financial increased their price target on shares of BlackLine from $55.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, February 15th. Finally, BMO Capital Markets cut their price target on shares of BlackLine from $76.00 to $71.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 15th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $70.67.
BlackLine Company Profile
BlackLine, Inc operates a cloud-based software platform which is designed to transform accounting and finance operations for organizations of all types and sizes. Its scalable platform supports critical accounting processes such as the financial close, account reconciliations, intercompany accounting, and controls assurance.