Bessemer Group Inc. Has $28,000 Stake in BlackLine, Inc. (NASDAQ:BL)

Bessemer Group Inc. lessened its stake in shares of BlackLine, Inc. (NASDAQ:BL) by 63.5% during the fourth quarter, Holdings Channel reports. The fund owned 466 shares of the technology company’s stock after selling 812 shares during the quarter. Bessemer Group Inc.’s holdings in BlackLine were worth $28,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. SBI Securities Co. Ltd. bought a new position in shares of BlackLine in the 4th quarter worth $31,000. Global Retirement Partners LLC grew its holdings 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 buying an additional 449 shares during the last quarter. Quadrant Capital Group LLC increased its position in shares of BlackLine by 243.5% during the fourth quarter. Quadrant Capital Group LLC now owns 584 shares of the technology company’s stock worth $35,000 after acquiring an additional 414 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of BlackLine by 41.2% in the 4th quarter. GAMMA Investing LLC now owns 634 shares of the technology company’s stock worth $39,000 after acquiring an additional 185 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in BlackLine in the 4th quarter valued at about $50,000. 95.13% of the stock is owned by institutional investors.

Insider Buying and Selling at BlackLine

In other news, CRO Mark Woodhams sold 9,088 shares of BlackLine stock in a transaction on Friday, February 21st. The shares were sold at an average price of $49.67, for a total transaction of $451,400.96. Following the completion of the sale, the executive now directly owns 65,414 shares of the company’s stock, valued at approximately $3,249,113.38. The trade was a 12.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 8.60% of the company’s stock.

BlackLine Stock Down 0.4 %

BL stock opened at $44.44 on Friday. BlackLine, Inc. has a twelve month low of $40.82 and a twelve month high of $66.25. The firm has a market capitalization of $2.80 billion, a PE ratio of 30.65, a PEG ratio of 10.80 and a beta of 0.97. 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 stock has a 50-day simple moving average of $48.13 and a two-hundred day simple moving average of $56.04.

BlackLine (NASDAQ:BL) last announced its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.29). BlackLine had a net margin of 24.67% and a return on equity of 21.63%. On average, equities analysts predict that BlackLine, Inc. will post 0.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BL. The Goldman Sachs Group cut 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. StockNews.com lowered shares of BlackLine from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Bank of America upgraded shares of BlackLine from an “underperform” rating to a “buy” rating and increased their price objective for the company from $50.00 to $75.00 in a research note on Thursday, January 30th. DA Davidson reduced their target price on BlackLine from $58.00 to $55.00 and set a “buy” rating for the company in a report on Monday, April 14th. Finally, Morgan Stanley dropped their price target on BlackLine from $80.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday. Three research analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $61.00.

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.