Quantbot Technologies LP Sells 6,882 Shares of BlackLine, Inc. (NASDAQ:BL)

Quantbot Technologies LP decreased its holdings in BlackLine, Inc. (NASDAQ:BL) by 29.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,695 shares of the technology company’s stock after selling 6,882 shares during the quarter. Quantbot Technologies LP’s holdings in BlackLine were worth $921,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in BL. Cetera Investment Advisers bought a new stake in BlackLine during the 1st quarter valued at approximately $1,572,000. Teachers Retirement System of The State of Kentucky bought a new stake in shares of BlackLine during the first quarter valued at approximately $907,000. Point72 DIFC Ltd bought a new stake in shares of BlackLine during the second quarter valued at approximately $537,000. Susquehanna Fundamental Investments LLC grew its stake in BlackLine by 430.5% in the second quarter. Susquehanna Fundamental Investments LLC now owns 90,403 shares of the technology company’s stock worth $4,380,000 after purchasing an additional 73,362 shares during the period. Finally, Icon Wealth Advisors LLC raised its holdings in BlackLine by 307.5% in the third quarter. Icon Wealth Advisors LLC now owns 16,452 shares of the technology company’s stock worth $907,000 after purchasing an additional 12,415 shares in the last quarter. Institutional investors own 95.13% of the company’s stock.

BlackLine Stock Up 0.2 %

BlackLine stock opened at $62.01 on Monday. The firm has a market cap of $3.88 billion, a price-to-earnings ratio of 63.28, a PEG ratio of 14.56 and a beta of 0.90. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 2.42. BlackLine, Inc. has a 12 month low of $43.37 and a 12 month high of $69.31. The stock has a fifty day simple moving average of $57.37 and a two-hundred day simple moving average of $51.78.

Insider Buying and Selling

In other BlackLine news, insider Karole Morgan-Prager sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $55.00, for a total value of $550,000.00. Following the transaction, the insider now directly owns 113,865 shares of the company’s stock, valued at approximately $6,262,575. This trade represents a 8.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mark Partin sold 85,308 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $54.84, for a total value of $4,678,290.72. Following the sale, the chief financial officer now owns 226,844 shares of the company’s stock, valued at approximately $12,440,124.96. This represents a 27.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 134,108 shares of company stock worth $7,488,826. 9.93% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on BL shares. BTIG Research dropped their target price on shares of BlackLine from $71.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Robert W. Baird dropped their price objective on shares of BlackLine from $72.00 to $65.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Morgan Stanley raised their target price on shares of BlackLine from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Piper Sandler reissued a “neutral” rating and issued a $60.00 price target on shares of BlackLine in a research report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. raised their price objective on BlackLine from $47.00 to $50.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, BlackLine currently has an average rating of “Hold” and a consensus target price of $64.10.

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.