Beck Bode LLC Reduces Stock Holdings in BlackLine, Inc. (NASDAQ:BL)

Beck Bode LLC decreased its stake in BlackLine, Inc. (NASDAQ:BL) by 1.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 24,787 shares of the technology company’s stock after selling 465 shares during the period. Beck Bode LLC’s holdings in BlackLine were worth $1,548,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stanley Laman Group Ltd. purchased a new position in BlackLine during the 4th quarter valued at $8,764,000. OLD National Bancorp IN purchased a new stake in shares of BlackLine in the 4th quarter worth $202,000. CWM LLC lifted its holdings in shares of 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 period. Xponance Inc. purchased a new stake in shares of BlackLine in the 4th quarter worth $215,000. Finally, Mackenzie Financial Corp bought a new position in shares of BlackLine in the 4th quarter worth $214,000. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Insider Transactions at BlackLine

In other news, Director Thomas Unterman sold 750 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $60.00, for a total value of $45,000.00. Following the sale, the director now owns 51,470 shares in the company, valued at $3,088,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other BlackLine news, Director Thomas Unterman sold 750 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $60.00, for a total transaction of $45,000.00. Following the transaction, the director now owns 51,470 shares in the company, valued at $3,088,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kevin B. Thompson sold 4,500 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $57.50, for a total value of $258,750.00. Following the transaction, the director now owns 11,000 shares in the company, valued at approximately $632,500. The disclosure for this sale can be found here. Company insiders own 9.53% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on BL. Citigroup reduced their price target on BlackLine from $66.00 to $63.00 and set a “neutral” rating for the company in a research report on Tuesday, April 23rd. Wolfe Research started coverage on BlackLine in a research report on Monday, March 18th. They set a “peer perform” rating on the stock. JPMorgan Chase & Co. reduced their target price on BlackLine from $55.00 to $52.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 14th. The Goldman Sachs Group upped their target price on BlackLine from $49.00 to $54.00 and gave the company a “sell” rating in a research report on Tuesday, January 23rd. Finally, William Blair lowered BlackLine from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 14th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $62.20.

BlackLine Stock Performance

Shares of BL stock traded down $2.23 during mid-day trading on Tuesday, reaching $58.05. The stock had a trading volume of 914,596 shares, compared to its average volume of 894,836. The business’s fifty day moving average is $62.16 and its 200-day moving average is $59.41. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 4.37. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of -580.50, a PEG ratio of 10.81 and a beta of 0.86. BlackLine, Inc. has a 1-year low of $47.26 and a 1-year high of $69.31.

BlackLine (NASDAQ:BL) last issued its earnings results on Tuesday, February 13th. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.28. BlackLine had a positive return on equity of 2.15% and a negative net margin of 1.50%. The firm had revenue of $155.73 million for the quarter, compared to the consensus estimate of $154.24 million. On average, research analysts forecast that BlackLine, Inc. will post 1.02 earnings per share for the current year.

BlackLine Profile

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.