Marshall Wace LLP Sells 8,932,319 Shares of BlackLine, Inc. (NASDAQ:BL)

Marshall Wace LLP cut its holdings in shares of BlackLine, Inc. (NASDAQ:BL) by 99.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,681 shares of the technology company’s stock after selling 8,932,319 shares during the period. Marshall Wace LLP owned approximately 0.11% of BlackLine worth $3,279,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BL. Vanguard Group Inc. raised its stake in BlackLine by 9.5% during the 1st quarter. Vanguard Group Inc. now owns 7,380,961 shares of the technology company’s stock valued at $476,662,000 after buying an additional 642,772 shares during the last quarter. Hawk Ridge Capital Management LP increased its position in BlackLine by 85.4% during the fourth quarter. Hawk Ridge Capital Management LP now owns 730,259 shares of the technology company’s stock valued at $45,597,000 after acquiring an additional 336,298 shares during the last quarter. Dimensional Fund Advisors LP increased its position in BlackLine by 65.4% during the second quarter. Dimensional Fund Advisors LP now owns 579,481 shares of the technology company’s stock valued at $28,076,000 after acquiring an additional 229,151 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in BlackLine by 3,945.7% in the first quarter. Principal Financial Group Inc. now owns 265,845 shares of the technology company’s stock valued at $17,168,000 after acquiring an additional 259,274 shares during the period. Finally, Sei Investments Co. boosted its position in BlackLine by 8.0% in the second 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 during the last quarter. 95.13% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Barbara Whye sold 5,378 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $52.01, for a total transaction of $279,709.78. Following the completion of the transaction, the director now directly owns 6,777 shares of the company’s stock, valued at $352,471.77. The sale was disclosed in a filing with the SEC, which is available through this link. 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 value of $500,000.00. Following the sale, the insider now directly owns 115,424 shares in the company, valued at approximately $5,771,200. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Barbara Whye sold 5,378 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $52.01, for a total transaction of $279,709.78. Following the sale, the director now owns 6,777 shares in the company, valued at $352,471.77. The disclosure for this sale can be found here. Insiders have sold a total of 117,721 shares of company stock worth $6,379,052 in the last 90 days. 9.93% of the stock is currently owned by corporate insiders.

BlackLine Stock Up 0.9 %

Shares of BL opened at $54.60 on Thursday. BlackLine, Inc. has a 12-month low of $43.37 and a 12-month high of $69.31. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 2.74. The company has a market capitalization of $3.38 billion, a PE ratio of 237.39, a price-to-earnings-growth ratio of 12.80 and a beta of 0.89. The business’s 50 day moving average is $49.79 and its 200 day moving average is $52.77.

BlackLine (NASDAQ:BL) last released its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.08. BlackLine had a net margin of 19.46% and a return on equity of 33.96%. The firm had revenue of $160.51 million for the quarter, compared to analysts’ expectations of $158.21 million. During the same quarter last year, the business posted ($0.69) earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. Research analysts expect that BlackLine, Inc. will post 0.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on BL shares. BTIG Research dropped their price objective 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. Truist Financial cut their price objective on shares of BlackLine from $60.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. Piper Sandler reduced their price objective on BlackLine from $55.00 to $51.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. JPMorgan Chase & Co. lowered their target price on BlackLine from $50.00 to $47.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 7th. Finally, Citigroup reduced their price target on BlackLine from $62.00 to $54.00 and set a “neutral” rating for the company in a research report on Friday, June 28th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $59.90.

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.