BlackLine, Inc. (NASDAQ:BL) Shares Sold by NBC Securities Inc.

NBC Securities Inc. cut its holdings in BlackLine, Inc. (NASDAQ:BL) by 6.1% during the 1st quarter, Holdings Channel reports. The firm owned 11,135 shares of the technology company’s stock after selling 719 shares during the period. NBC Securities Inc.’s holdings in BlackLine were worth $719,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. CWM LLC lifted its stake in shares of BlackLine by 94.8% during the fourth quarter. CWM LLC now owns 452 shares of the technology company’s stock valued at $28,000 after buying an additional 220 shares during the period. Portside Wealth Group LLC lifted its stake in shares of BlackLine by 4.6% during the fourth quarter. Portside Wealth Group LLC now owns 8,091 shares of the technology company’s stock valued at $505,000 after buying an additional 359 shares during the period. TFO Wealth Partners LLC lifted its stake in shares of BlackLine by 9,080.0% during the fourth quarter. TFO Wealth Partners LLC now owns 459 shares of the technology company’s stock valued at $312,000 after buying an additional 454 shares during the period. Baker Tilly Wealth Management LLC lifted its stake in shares of BlackLine by 8.6% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 6,026 shares of the technology company’s stock valued at $376,000 after buying an additional 479 shares during the period. Finally, Renaissance Group LLC lifted its stake in shares of BlackLine by 1.6% during the third quarter. Renaissance Group LLC now owns 34,060 shares of the technology company’s stock valued at $1,837,000 after buying an additional 536 shares during the period. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. BMO Capital Markets upped their price objective on shares of BlackLine from $65.00 to $67.00 and gave the company a “market perform” rating in a research note on Wednesday, May 8th. William Blair raised shares of BlackLine to a “hold” rating in a research note on Tuesday, May 7th. Robert W. Baird increased their price target on shares of BlackLine from $61.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. Piper Sandler raised shares of BlackLine from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $55.00 to $62.00 in a research note on Tuesday, April 23rd. Finally, Wolfe Research assumed coverage on shares of BlackLine in a research note on Monday, March 18th. They issued a “peer perform” rating on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, BlackLine presently has a consensus rating of “Hold” and an average price target of $64.56.

Insiders Place Their Bets

In other BlackLine news, CEO Owen Ryan purchased 3,000 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was acquired at an average cost of $49.88 per share, with a total value of $149,640.00. Following the acquisition, the chief executive officer now owns 145,948 shares of the company’s stock, valued at approximately $7,279,886.24. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Mark Partin sold 50,000 shares of BlackLine stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $47.38, for a total value of $2,369,000.00. Following the sale, the chief financial officer now directly owns 229,341 shares in the company, valued at approximately $10,866,176.58. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Owen Ryan acquired 3,000 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was purchased at an average price of $49.88 per share, for a total transaction of $149,640.00. Following the completion of the transaction, the chief executive officer now owns 145,948 shares in the company, valued at $7,279,886.24. The disclosure for this purchase can be found here. 9.53% of the stock is owned by company insiders.

BlackLine Price Performance

BL opened at $44.06 on Thursday. The company has a fifty day simple moving average of $54.24 and a 200 day simple moving average of $58.83. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of 191.57, a PEG ratio of 5.23 and a beta of 0.86. BlackLine, Inc. has a twelve month low of $43.92 and a twelve month high of $69.31. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 4.08.

BlackLine (NASDAQ:BL) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.10. The company had revenue of $157.46 million during the quarter, compared to analyst estimates of $155.05 million. BlackLine had a net margin of 2.30% and a return on equity of 9.07%. Equities research analysts expect that BlackLine, Inc. will post 1.1 EPS for the current fiscal year.

About BlackLine

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.