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

Bessemer Group Inc. cut its stake in shares of BlackLine, Inc. (NASDAQ:BL) by 63.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 466 shares of the technology company’s stock after selling 812 shares during the period. Bessemer Group Inc.’s holdings in BlackLine were worth $28,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in BL. American Century Companies Inc. boosted its stake in BlackLine by 12,538.0% in the 4th quarter. American Century Companies Inc. now owns 896,665 shares of the technology company’s stock valued at $54,481,000 after purchasing an additional 889,570 shares during the period. JPMorgan Chase & Co. grew its stake in shares of 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 acquiring an additional 435,271 shares in the last quarter. Raymond James Financial Inc. bought a new position in BlackLine during the fourth quarter worth about $23,770,000. Conestoga Capital Advisors LLC raised its stake in BlackLine by 20.2% in the 4th quarter. Conestoga Capital Advisors LLC now owns 2,113,882 shares of the technology company’s stock worth $128,439,000 after purchasing an additional 354,784 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in BlackLine in the 4th quarter valued at about $19,392,000. Institutional investors own 95.13% of the company’s stock.

BlackLine Stock Performance

Shares of BL stock opened at $44.44 on Friday. The business’s 50-day moving average price is $48.13 and its 200-day moving average price is $56.04. BlackLine, Inc. has a 12 month low of $40.82 and a 12 month high of $66.25. The company has a current ratio of 2.59, a quick ratio of 2.69 and a debt-to-equity ratio of 2.00. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 30.65, a PEG ratio of 10.80 and a beta of 0.97.

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

Insiders Place Their Bets

In other news, CRO Mark Woodhams sold 9,088 shares of the business’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 transaction, the executive now owns 65,414 shares in the company, valued at approximately $3,249,113.38. The trade was a 12.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BL shares. Citigroup dropped their price target on shares of BlackLine from $73.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. DA Davidson decreased their price target on BlackLine from $58.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. JMP Securities reaffirmed a “market outperform” rating and set a $86.00 price objective on shares of BlackLine in a research report on Wednesday, January 15th. Bank of America raised shares of BlackLine from an “underperform” rating to a “buy” rating and raised their target price for the company from $50.00 to $75.00 in a report on Thursday, January 30th. Finally, StockNews.com lowered shares of BlackLine from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price 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.