Nisa Investment Advisors LLC Sells 992 Shares of BlackLine, Inc. (NASDAQ:BL)

Nisa Investment Advisors LLC lowered its stake in BlackLine, Inc. (NASDAQ:BL) by 66.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 506 shares of the technology company’s stock after selling 992 shares during the quarter. Nisa Investment Advisors LLC’s holdings in BlackLine were worth $32,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in BL. Meritage Group LP bought a new position in shares of BlackLine during the third quarter worth about $59,530,000. Envestnet Portfolio Solutions Inc. acquired a new position in BlackLine during the 3rd quarter worth approximately $597,000. Great Lakes Advisors LLC bought a new position in shares of BlackLine during the 3rd quarter worth approximately $13,130,000. Envestnet Asset Management Inc. raised its holdings in shares of BlackLine by 33.5% in the third quarter. Envestnet Asset Management Inc. now owns 320,139 shares of the technology company’s stock valued at $17,758,000 after purchasing an additional 80,391 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in BlackLine by 6.1% during the third quarter. Vanguard Group Inc. now owns 6,658,540 shares of the technology company’s stock worth $369,349,000 after purchasing an additional 380,614 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Insiders Place Their Bets

In other news, Director Thomas Unterman sold 750 shares of BlackLine stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $60.00, for a total value of $45,000.00. Following the completion of the sale, the director now directly owns 51,470 shares in the company, valued at $3,088,200. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Thomas Unterman sold 750 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $60.00, for a total transaction of $45,000.00. Following the sale, the director now directly owns 51,470 shares of the company’s stock, valued at approximately $3,088,200. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Kevin B. Thompson sold 4,500 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $57.50, for a total value of $258,750.00. Following the completion of the transaction, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $632,500. The disclosure for this sale can be found here. Corporate insiders own 9.53% of the company’s stock.

BlackLine Trading Up 1.8 %

Shares of NASDAQ:BL opened at $58.39 on Tuesday. The stock has a market cap of $3.61 billion, a PE ratio of -583.90, a P/E/G ratio of 10.19 and a beta of 0.86. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 4.37. BlackLine, Inc. has a 12-month low of $47.26 and a 12-month high of $69.31. The business has a 50 day moving average of $61.97 and a 200-day moving average of $59.21.

BlackLine (NASDAQ:BL) last issued its quarterly earnings data on Tuesday, February 13th. The technology company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.28. The firm had revenue of $155.73 million for the quarter, compared to analyst estimates of $154.24 million. BlackLine had a positive return on equity of 2.15% and a negative net margin of 1.50%. As a group, equities research analysts forecast that BlackLine, Inc. will post 1.02 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Piper Sandler lowered their price target on shares of BlackLine from $60.00 to $55.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 14th. JPMorgan Chase & Co. reduced their price target on BlackLine from $55.00 to $52.00 and set an “underweight” rating for the company in a research report on Wednesday, February 14th. Citigroup boosted their price target on BlackLine from $57.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 27th. The Goldman Sachs Group upped their price objective on BlackLine from $49.00 to $54.00 and gave the stock a “sell” rating in a research note on Tuesday, January 23rd. Finally, JMP Securities reissued a “market outperform” rating and issued a $81.00 target price on shares of BlackLine in a research note on Wednesday, February 14th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $61.80.

About BlackLine

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.