BlackLine, Inc. (NASDAQ:BL) Shares Sold by Stifel Financial Corp

Stifel Financial Corp cut its holdings in shares of BlackLine, Inc. (NASDAQ:BL) by 95.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,096 shares of the technology company’s stock after selling 93,555 shares during the quarter. Stifel Financial Corp’s holdings in BlackLine were worth $226,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Engaged Capital LLC acquired a new position in shares of BlackLine in the third quarter worth about $33,620,000. Conestoga Capital Advisors LLC grew its holdings in shares of BlackLine by 24.9% during the third quarter. Conestoga Capital Advisors LLC now owns 1,759,098 shares of the technology company’s stock worth $96,997,000 after buying an additional 350,143 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in BlackLine in the 2nd quarter valued at about $15,128,000. Dimensional Fund Advisors LP lifted its position in BlackLine by 65.4% during the second quarter. Dimensional Fund Advisors LP now owns 579,481 shares of the technology company’s stock worth $28,076,000 after buying an additional 229,151 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of BlackLine by 3,027.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 224,944 shares of the technology company’s stock worth $12,403,000 after acquiring an additional 217,751 shares during the period. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Wall Street Analyst Weigh In

BL has been the topic of a number of recent analyst reports. Piper Sandler reiterated a “neutral” rating and issued a $60.00 price objective on shares of BlackLine in a report on Wednesday, November 20th. JMP Securities boosted their price objective on BlackLine from $81.00 to $86.00 and gave the company a “market outperform” rating in a report on Friday, November 22nd. Morgan Stanley raised their target price on BlackLine from $70.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Truist Financial boosted their price target on shares of BlackLine from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Finally, Citigroup raised their price objective on shares of BlackLine from $64.00 to $73.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, BlackLine currently has a consensus rating of “Hold” and an average target price of $66.00.

Insider Buying and Selling at BlackLine

In other BlackLine news, insider Karole Morgan-Prager sold 5,773 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $55.14, for a total value of $318,323.22. Following the transaction, the insider now directly owns 113,865 shares in the company, valued at $6,278,516.10. This represents a 4.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Mark Woodhams sold 24,408 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $64.32, for a total transaction of $1,569,922.56. Following the sale, the executive now owns 72,920 shares of the company’s stock, valued at $4,690,214.40. This represents a 25.08 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 57,560 shares of company stock valued at $3,531,114. Insiders own 9.93% of the company’s stock.

BlackLine Stock Down 2.1 %

BL stock opened at $61.20 on Monday. BlackLine, Inc. has a fifty-two week low of $43.37 and a fifty-two week high of $69.31. The company’s 50 day moving average price is $60.74 and its 200 day moving average price is $53.67. The company has a debt-to-equity ratio of 2.42, a quick ratio of 2.69 and a current ratio of 2.69. The firm has a market capitalization of $3.82 billion, a price-to-earnings ratio of 62.45, a PEG ratio of 15.18 and a beta of 0.90.

BlackLine 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.