BlackLine, Inc. (NASDAQ:BL) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. decreased its holdings in BlackLine, Inc. (NASDAQ:BL) by 56.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 37,963 shares of the technology company’s stock after selling 48,260 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in BlackLine were worth $2,093,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quadrature Capital Ltd grew its holdings in BlackLine by 346.5% during the 1st quarter. Quadrature Capital Ltd now owns 31,846 shares of the technology company’s stock worth $2,055,000 after acquiring an additional 24,713 shares in the last quarter. Cetera Investment Advisers acquired a new position in BlackLine in the first quarter worth about $1,572,000. Comerica Bank increased its holdings in BlackLine by 11.8% in the first quarter. Comerica Bank now owns 124,266 shares of the technology company’s stock valued at $8,025,000 after buying an additional 13,066 shares during the last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in BlackLine during the first quarter valued at approximately $907,000. Finally, Vanguard Group Inc. lifted its holdings in BlackLine by 9.5% during the 1st quarter. Vanguard Group Inc. now owns 7,380,961 shares of the technology company’s stock worth $476,662,000 after buying an additional 642,772 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BL. Piper Sandler boosted their price target on BlackLine from $51.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, November 8th. BTIG Research lowered their target price on shares of BlackLine from $71.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. JPMorgan Chase & Co. raised their price target on shares of BlackLine from $47.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Robert W. Baird lowered their price objective on shares of BlackLine from $72.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Finally, Morgan Stanley increased their price objective on shares of BlackLine from $70.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $63.60.

BlackLine Price Performance

NASDAQ BL opened at $59.31 on Friday. The company has a 50-day moving average price of $55.16 and a two-hundred day moving average price of $51.70. BlackLine, Inc. has a 52 week low of $43.37 and a 52 week high of $69.31. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of 60.52, a price-to-earnings-growth ratio of 15.28 and a beta of 0.90. The company has a current ratio of 2.69, a quick ratio of 1.95 and a debt-to-equity ratio of 2.42.

Insider Transactions at BlackLine

In other BlackLine news, insider Karole Morgan-Prager sold 10,000 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $55.00, for a total transaction of $550,000.00. Following the sale, the insider now directly owns 113,865 shares in the company, valued at approximately $6,262,575. The trade was a 8.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark Partin sold 5,648 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $53.00, for a total transaction of $299,344.00. Following the completion of the sale, the chief financial officer now directly owns 226,844 shares of the company’s stock, valued at approximately $12,022,732. This represents a 2.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 135,495 shares of company stock worth $7,560,534. Company insiders own 9.93% of the company’s stock.

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.