CIBC Private Wealth Group LLC Has $117,000 Holdings in BlackLine, Inc. (NASDAQ:BL)

CIBC Private Wealth Group LLC decreased its holdings in BlackLine, Inc. (NASDAQ:BL) by 13.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,044 shares of the technology company’s stock after selling 324 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in BlackLine were worth $117,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. SBI Securities Co. Ltd. purchased a new stake in shares of BlackLine in the fourth quarter valued at about $31,000. Global Retirement Partners LLC grew its position in BlackLine by 568.4% in the 4th quarter. Global Retirement Partners LLC now owns 528 shares of the technology company’s stock worth $32,000 after purchasing an additional 449 shares in the last quarter. GAMMA Investing LLC increased its stake in BlackLine by 41.2% in the 4th quarter. GAMMA Investing LLC now owns 634 shares of the technology company’s stock valued at $39,000 after buying an additional 185 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in shares of BlackLine by 19.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 1,266 shares of the technology company’s stock worth $77,000 after buying an additional 209 shares in the last quarter. Finally, KBC Group NV boosted its stake in shares of BlackLine by 44.0% in the 4th quarter. KBC Group NV now owns 2,180 shares of the technology company’s stock worth $132,000 after buying an additional 666 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Insider Buying and Selling

In related news, CRO Mark Woodhams sold 9,088 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $49.67, for a total transaction of $451,400.96. Following the completion of the transaction, the executive now directly owns 65,414 shares in the company, valued at $3,249,113.38. The trade was a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.93% of the stock is currently owned by insiders.

BlackLine Price Performance

Shares of NASDAQ BL opened at $42.83 on Tuesday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 2.69 and a current ratio of 2.59. BlackLine, Inc. has a fifty-two week low of $40.82 and a fifty-two week high of $69.09. The stock has a market cap of $2.70 billion, a PE ratio of 29.54, a price-to-earnings-growth ratio of 10.80 and a beta of 0.97. The stock has a fifty day moving average of $52.41 and a 200-day moving average of $56.70.

BlackLine (NASDAQ:BL) last posted its earnings results on Tuesday, February 11th. The technology company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.29). BlackLine had a net margin of 24.67% and a return on equity of 21.63%. Equities research analysts anticipate that BlackLine, Inc. will post 0.9 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on BL shares. Citigroup decreased their price target on BlackLine from $73.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. StockNews.com downgraded shares of BlackLine from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th. DA Davidson initiated coverage on shares of BlackLine in a research report on Tuesday, April 1st. They issued a “buy” rating and a $58.00 price objective on the stock. Piper Sandler reduced their target price on shares of BlackLine from $60.00 to $58.00 and set an “underweight” rating for the company in a research report on Wednesday, February 12th. Finally, Bank of America raised shares of BlackLine from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $50.00 to $75.00 in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, BlackLine currently has a consensus rating of “Hold” and a consensus price target of $64.27.

BlackLine Company 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.