NBC Securities Inc. Sells 2,281 Shares of BlackLine, Inc. (NASDAQ:BL)

NBC Securities Inc. cut its stake in shares of BlackLine, Inc. (NASDAQ:BL) by 21.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,592 shares of the technology company’s stock after selling 2,281 shares during the quarter. NBC Securities Inc.’s holdings in BlackLine were worth $473,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Quadrature Capital Ltd increased its holdings in BlackLine by 346.5% in the 1st quarter. Quadrature Capital Ltd now owns 31,846 shares of the technology company’s stock worth $2,055,000 after purchasing an additional 24,713 shares in the last quarter. Cetera Investment Advisers acquired a new stake in BlackLine during the 1st quarter worth approximately $1,572,000. Comerica Bank grew its holdings in BlackLine by 11.8% during the 1st quarter. Comerica Bank now owns 124,266 shares of the technology company’s stock worth $8,025,000 after acquiring an additional 13,066 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in BlackLine in the 1st quarter valued at approximately $2,000,000. Finally, Teachers Retirement System of The State of Kentucky bought a new position in shares of BlackLine during the first quarter valued at $907,000. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Karole Morgan-Prager sold 10,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $50.00, for a total transaction of $500,000.00. Following the completion of the sale, the insider now directly owns 115,424 shares of the company’s stock, valued at $5,771,200. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other BlackLine news, CRO Mark Woodhams sold 1,387 shares of BlackLine stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $51.70, for a total transaction of $71,707.90. Following the transaction, the executive now directly owns 97,582 shares of the company’s stock, valued at $5,044,989.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Karole Morgan-Prager sold 10,000 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $50.00, for a total transaction of $500,000.00. Following the completion of the sale, the insider now owns 115,424 shares of the company’s stock, valued at approximately $5,771,200. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 123,794 shares of company stock worth $6,713,879 in the last ninety days. Corporate insiders own 9.93% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Piper Sandler reduced their price objective on shares of BlackLine from $55.00 to $51.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. JPMorgan Chase & Co. decreased their price target on BlackLine from $50.00 to $47.00 and set an “underweight” rating for the company in a research note on Wednesday, August 7th. Citigroup cut their price objective on BlackLine from $62.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, June 28th. Morgan Stanley raised shares of BlackLine from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $60.00 to $70.00 in a research report on Monday, September 30th. Finally, JMP Securities restated a “market outperform” rating and issued a $81.00 price target on shares of BlackLine in a research report on Monday, July 15th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $59.90.

BlackLine Trading Up 1.5 %

NASDAQ:BL opened at $59.19 on Friday. The firm has a fifty day simple moving average of $51.89 and a two-hundred day simple moving average of $52.26. BlackLine, Inc. has a 12 month low of $43.37 and a 12 month high of $69.31. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of 257.35, a PEG ratio of 13.57 and a beta of 0.90. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 2.74.

BlackLine (NASDAQ:BL) last issued its earnings results on Tuesday, August 6th. The technology company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.08. The business had revenue of $160.51 million during the quarter, compared to analyst estimates of $158.21 million. BlackLine had a return on equity of 33.96% and a net margin of 19.46%. The firm’s revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.69) EPS. Analysts expect that BlackLine, Inc. will post 0.96 EPS for the current fiscal year.

BlackLine Company 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.