DF Dent & Co. Inc. Has $13.57 Million Position in BlackLine, Inc. (NASDAQ:BL)

DF Dent & Co. Inc. cut its stake in BlackLine, Inc. (NASDAQ:BL) by 8.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 223,320 shares of the technology company’s stock after selling 19,657 shares during the period. DF Dent & Co. Inc. owned approximately 0.36% of BlackLine worth $13,569,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Conestoga Capital Advisors LLC increased its stake in shares of BlackLine by 20.2% in the 4th quarter. Conestoga Capital Advisors LLC now owns 2,113,882 shares of the technology company’s stock valued at $128,439,000 after purchasing an additional 354,784 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in BlackLine by 35.3% in the third quarter. JPMorgan Chase & Co. now owns 1,666,591 shares of the technology company’s stock valued at $91,896,000 after buying an additional 435,271 shares in the last quarter. Geode Capital Management LLC grew its position in BlackLine by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,282,017 shares of the technology company’s stock valued at $70,704,000 after acquiring an additional 3,498 shares during the last quarter. American Century Companies Inc. raised its stake in BlackLine by 12,538.0% during the fourth quarter. American Century Companies Inc. now owns 896,665 shares of the technology company’s stock worth $54,481,000 after acquiring an additional 889,570 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of BlackLine by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 501,699 shares of the technology company’s stock worth $30,483,000 after acquiring an additional 6,477 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on BL. Truist Financial decreased their price target on shares of BlackLine from $60.00 to $55.00 and set a “hold” rating on the stock in a report on Wednesday, February 12th. Bank of America raised shares of BlackLine from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $50.00 to $75.00 in a research note on Thursday, January 30th. StockNews.com cut BlackLine from a “buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Piper Sandler reduced their price objective on BlackLine from $60.00 to $58.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 12th. Finally, DA Davidson started coverage on BlackLine in a research report on Tuesday. They issued a “buy” rating and a $58.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, BlackLine currently has a consensus rating of “Hold” and a consensus price target of $65.64.

Insiders Place Their Bets

In related news, CRO Mark Woodhams sold 9,088 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $49.67, for a total value 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 $3,249,113.38. The trade was a 12.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 9.93% of the company’s stock.

BlackLine Price Performance

BL stock opened at $49.44 on Thursday. 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 firm has a market cap of $3.11 billion, a price-to-earnings ratio of 34.10, a PEG ratio of 10.80 and a beta of 1.03. The company’s fifty day simple moving average is $53.40 and its 200 day simple moving average is $56.80. BlackLine, Inc. has a 12-month low of $43.37 and a 12-month high of $69.09.

BlackLine (NASDAQ:BL) last announced its quarterly earnings data 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%. On average, analysts expect that BlackLine, Inc. will post 0.9 earnings per share for the current year.

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.