Everence Capital Management Inc. Sells 3,810 Shares of BlackLine, Inc. (NASDAQ:BL)

Everence Capital Management Inc. decreased its position in shares of BlackLine, Inc. (NASDAQ:BL) by 51.1% in the 4th quarter, Holdings Channel reports. The fund owned 3,640 shares of the technology company’s stock after selling 3,810 shares during the quarter. Everence Capital Management Inc.’s holdings in BlackLine were worth $221,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Engaged Capital LLC purchased a new stake in BlackLine during the third quarter valued at about $33,620,000. JPMorgan Chase & Co. lifted its stake in shares of BlackLine by 35.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,666,591 shares of the technology company’s stock valued at $91,896,000 after buying an additional 435,271 shares in the last quarter. Conestoga Capital Advisors LLC boosted its holdings in BlackLine by 24.9% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,759,098 shares of the technology company’s stock worth $96,997,000 after buying an additional 350,143 shares during the period. Squarepoint Ops LLC bought a new position in BlackLine in the 2nd quarter worth approximately $15,128,000. Finally, Dimensional Fund Advisors LP grew its stake in BlackLine by 65.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 579,481 shares of the technology company’s stock valued at $28,076,000 after buying an additional 229,151 shares in the last quarter. Institutional investors own 95.13% of the company’s stock.

BlackLine Trading Down 1.1 %

Shares of BlackLine stock opened at $57.09 on Thursday. The company has a debt-to-equity ratio of 2.42, a current ratio of 2.69 and a quick ratio of 2.69. BlackLine, Inc. has a 1 year low of $43.37 and a 1 year high of $69.31. The firm has a market cap of $3.57 billion, a PE ratio of 58.26, a PEG ratio of 15.18 and a beta of 0.91. The company has a 50 day simple moving average of $61.16 and a two-hundred day simple moving average of $54.41.

Insider Activity

In other BlackLine news, CRO Mark Woodhams sold 24,408 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $64.32, for a total value of $1,569,922.56. Following the completion of the sale, the executive now owns 72,920 shares of the company’s stock, valued at $4,690,214.40. This represents a 25.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Karole Morgan-Prager sold 27,079 shares of BlackLine stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $60.06, for a total transaction of $1,626,364.74. Following the transaction, the insider now directly owns 113,865 shares in the company, valued at $6,838,731.90. This trade represents a 19.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Citigroup raised their price target on BlackLine from $64.00 to $73.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Piper Sandler downgraded BlackLine from a “neutral” rating to an “underweight” rating and set a $60.00 target price for the company. in a research note on Monday. JPMorgan Chase & Co. upped their price target on BlackLine from $47.00 to $50.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Truist Financial raised their price objective on shares of BlackLine from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Finally, Morgan Stanley upped their target price on shares of BlackLine from $70.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Three analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, BlackLine has a consensus rating of “Hold” and a consensus price target of $66.00.

BlackLine Profile

BlackLine, Inc operates a cloud-based software platform which is designed to transform accounting and finance operations for organizations of all types and sizes. Its scalable platform supports critical accounting processes such as the financial close, account reconciliations, intercompany accounting, and controls assurance.