DF Dent & Co. Inc. Sells 19,657 Shares of BlackLine, Inc. (NASDAQ:BL)

DF Dent & Co. Inc. decreased its holdings in BlackLine, Inc. (NASDAQ:BL) by 8.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 223,320 shares of the technology company’s stock after selling 19,657 shares during the quarter. DF Dent & Co. Inc.’s holdings in BlackLine were worth $13,569,000 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 position in BlackLine during the 4th quarter worth $31,000. Global Retirement Partners LLC lifted its position in shares of BlackLine by 568.4% during the fourth 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 in the last quarter. GAMMA Investing LLC boosted its holdings in BlackLine by 41.2% during the fourth quarter. GAMMA Investing LLC now owns 634 shares of the technology company’s stock worth $39,000 after purchasing an additional 185 shares during the last quarter. Headlands Technologies LLC bought a new stake in BlackLine in the 4th quarter worth about $50,000. Finally, Huntington National Bank increased its stake in BlackLine by 596.4% in the 4th quarter. Huntington National Bank now owns 968 shares of the technology company’s stock valued at $59,000 after buying an additional 829 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

BlackLine Price Performance

BL opened at $49.44 on Thursday. The firm has a 50-day moving average price of $53.40 and a 200-day moving average price of $56.80. BlackLine, Inc. has a twelve month low of $43.37 and a twelve month high of $69.09. The company has a quick ratio of 2.69, a current ratio of 2.59 and a debt-to-equity ratio of 2.00. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of 34.10, a PEG ratio of 10.80 and a beta of 1.03.

BlackLine (NASDAQ:BL) last issued its earnings results on Tuesday, February 11th. The technology company reported $0.21 earnings per share (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%. Equities analysts expect that BlackLine, Inc. will post 0.9 EPS for the current year.

Insider Activity at BlackLine

In other news, CRO Mark Woodhams sold 9,088 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $49.67, for a total value of $451,400.96. Following the completion of the transaction, the executive now directly owns 65,414 shares in the company, valued at approximately $3,249,113.38. This trade represents a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.93% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BL shares. JMP Securities reaffirmed a “market outperform” rating and issued a $86.00 target price on shares of BlackLine in a report on Wednesday, January 15th. Piper Sandler reduced their price objective on BlackLine from $60.00 to $58.00 and set an “underweight” rating for the company in a research note on Wednesday, February 12th. Citigroup lowered their target price on BlackLine from $73.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. StockNews.com lowered shares of BlackLine from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Finally, DA Davidson started coverage on shares of BlackLine in a research report on Tuesday. They issued a “buy” rating and a $58.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, BlackLine has an average rating of “Hold” and an average target price of $65.64.

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.