Assenagon Asset Management S.A. Lowers Stock Holdings in BlackLine, Inc. (NASDAQ:BL)

Assenagon Asset Management S.A. cut its position in BlackLine, Inc. (NASDAQ:BL) by 76.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,899 shares of the technology company’s stock after selling 172,045 shares during the quarter. Assenagon Asset Management S.A.’s holdings in BlackLine were worth $3,214,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. American Century Companies Inc. grew its stake in shares of BlackLine by 17.0% in the second quarter. American Century Companies Inc. now owns 17,351 shares of the technology company’s stock worth $841,000 after acquiring an additional 2,520 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in BlackLine by 65.4% in the second quarter. Dimensional Fund Advisors LP now owns 579,481 shares of the technology company’s stock valued at $28,076,000 after purchasing an additional 229,151 shares during the period. Sei Investments Co. grew its stake in BlackLine by 8.0% during the 2nd quarter. Sei Investments Co. now owns 185,444 shares of the technology company’s stock worth $8,985,000 after purchasing an additional 13,692 shares in the last quarter. Public Sector Pension Investment Board increased its holdings in BlackLine by 8.3% during the 2nd quarter. Public Sector Pension Investment Board now owns 112,872 shares of the technology company’s stock worth $5,469,000 after purchasing an additional 8,642 shares during the period. Finally, Bank of Montreal Can raised its position in BlackLine by 28.4% in the 2nd quarter. Bank of Montreal Can now owns 183,201 shares of the technology company’s stock valued at $8,882,000 after purchasing an additional 40,523 shares in the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

BlackLine Stock Up 2.6 %

BlackLine stock opened at $61.20 on Wednesday. The company has a market capitalization of $3.82 billion, a P/E ratio of 62.45, a PEG ratio of 13.51 and a beta of 0.91. The company has a debt-to-equity ratio of 2.42, a quick ratio of 2.69 and a current ratio of 2.69. BlackLine, Inc. has a fifty-two week low of $43.37 and a fifty-two week high of $69.31. The stock has a 50-day simple moving average of $61.23 and a 200-day simple moving average of $55.06.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. JMP Securities reissued a “market outperform” rating and set a $86.00 price objective on shares of BlackLine in a research report on Wednesday, January 15th. JPMorgan Chase & Co. boosted their target price on shares of BlackLine from $47.00 to $50.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. Piper Sandler cut BlackLine from a “neutral” rating to an “underweight” rating and set a $60.00 price target on the stock. in a research note on Monday, January 6th. Truist Financial upped their price objective on BlackLine from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Finally, Citigroup raised BlackLine from a “neutral” rating to a “buy” rating and set a $73.00 target price on the stock in a research report on Thursday, January 16th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $66.00.

Insiders Place Their Bets

In other news, CRO Mark Woodhams sold 24,408 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $64.32, for a total transaction of $1,569,922.56. Following the completion of the sale, the executive now owns 72,920 shares in the company, valued at approximately $4,690,214.40. This represents a 25.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 9.53% of the stock is currently owned by corporate insiders.

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.