BlackLine (NASDAQ:BL) Stake Lowered by Yousif Capital Management LLC

Yousif Capital Management LLC cut its stake in shares of BlackLine (NASDAQ:BL) by 2.5% in the 1st quarter, Holdings Channel reports. The firm owned 19,228 shares of the technology company’s stock after selling 501 shares during the quarter. Yousif Capital Management LLC’s holdings in BlackLine were worth $931,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Topline Capital Management LLC acquired a new position in shares of BlackLine during the fourth quarter worth approximately $60,572,000. American Century Companies Inc. lifted its position in shares of BlackLine by 12,538.0% during the 4th quarter. American Century Companies Inc. now owns 896,665 shares of the technology company’s stock valued at $54,481,000 after acquiring an additional 889,570 shares during the last quarter. Brown Advisory Inc. lifted its holdings in shares of BlackLine by 38.8% in the fourth quarter. Brown Advisory Inc. now owns 783,437 shares of the technology company’s stock valued at $47,602,000 after purchasing an additional 218,976 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of BlackLine by 14.9% in the fourth quarter. Northern Trust Corp now owns 745,397 shares of the technology company’s stock valued at $45,290,000 after purchasing an additional 96,523 shares in the last quarter. Finally, Tensile Capital Management LP lifted its holdings in shares of BlackLine by 16.5% in the fourth quarter. Tensile Capital Management LP now owns 740,997 shares of the technology company’s stock valued at $45,023,000 after purchasing an additional 105,000 shares in the last quarter. 95.13% of the stock is owned by institutional investors.

Insider Activity

In other news, CAO Michelle D. Stalick sold 795 shares of the firm’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $55.14, for a total value of $43,836.30. Following the transaction, the chief accounting officer now directly owns 25,235 shares in the company, valued at $1,391,457.90. This trade represents a 3.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Mark Woodhams sold 1,856 shares of the firm’s stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $54.65, for a total value of $101,430.40. Following the completion of the transaction, the executive now owns 61,390 shares in the company, valued at $3,354,963.50. This represents a 2.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.60% of the company’s stock.

BlackLine Trading Down 0.0%

BL stock opened at $54.96 on Thursday. The business has a fifty day moving average price of $51.73 and a 200 day moving average price of $54.45. The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of 39.83, a P/E/G ratio of 9.10 and a beta of 0.94. BlackLine has a fifty-two week low of $40.82 and a fifty-two week high of $66.25. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.66 and a quick ratio of 1.66.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Truist Financial upped their price target on shares of BlackLine from $40.00 to $45.00 and gave the stock a “hold” rating in a research note on Thursday, May 8th. Piper Sandler raised their price target on BlackLine from $46.00 to $50.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. The Goldman Sachs Group decreased their target price on BlackLine from $51.00 to $43.00 and set a “sell” rating on the stock in a research report on Thursday, April 17th. DA Davidson decreased their target price on BlackLine from $58.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, Wall Street Zen downgraded BlackLine from a “buy” rating to a “hold” rating in a research report on Thursday, May 15th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, BlackLine currently has an average rating of “Hold” and an average price target of $60.54.

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.