Whittier Trust Co. Reduces Stock Holdings in BlackLine, Inc. (NASDAQ:BL)

Whittier Trust Co. trimmed its holdings in shares of BlackLine, Inc. (NASDAQ:BL) by 50.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,125 shares of the technology company’s stock after selling 2,172 shares during the quarter. Whittier Trust Co.’s holdings in BlackLine were worth $129,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

BlackLine Stock Performance

NASDAQ BL opened at $50.29 on Monday. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 34.68, a PEG ratio of 10.80 and a beta of 1.03. BlackLine, Inc. has a twelve month low of $43.37 and a twelve month high of $69.09. The company has a current ratio of 2.59, a quick ratio of 2.69 and a debt-to-equity ratio of 2.00. The stock has a 50-day moving average of $54.93 and a 200 day moving average of $56.80.

BlackLine (NASDAQ:BL) last announced its earnings results on Tuesday, February 11th. The technology company reported $0.21 EPS 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%. Sell-side analysts anticipate that BlackLine, Inc. will post 0.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BL. Citigroup decreased their price objective on BlackLine from $73.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. JMP Securities reissued a “market outperform” rating and issued a $86.00 price objective on shares of BlackLine in a report on Wednesday, January 15th. Piper Sandler decreased their price objective on BlackLine from $60.00 to $58.00 and set an “underweight” rating for the company in a report on Wednesday, February 12th. Truist Financial decreased their price objective on BlackLine from $60.00 to $55.00 and set a “hold” rating for the company in a report on Wednesday, February 12th. Finally, StockNews.com cut BlackLine from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, BlackLine has an average rating of “Hold” and an average target price of $66.40.

Insider Buying and Selling at BlackLine

In other BlackLine news, CRO Mark Woodhams sold 9,088 shares of the stock in a transaction that occurred on 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 owns 65,414 shares of the company’s stock, valued at $3,249,113.38. This represents a 12.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 9.93% of the company’s stock.

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.