Bayesian Capital Management LP Sells 1,644 Shares of BlackLine, Inc. (NASDAQ:BL)

Bayesian Capital Management LP cut its stake in BlackLine, Inc. (NASDAQ:BL) by 24.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,100 shares of the technology company’s stock after selling 1,644 shares during the period. Bayesian Capital Management LP’s holdings in BlackLine were worth $310,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of BL. Ameriprise Financial Inc. lifted its stake in shares of BlackLine by 17.4% in the 4th quarter. Ameriprise Financial Inc. now owns 388,594 shares of the technology company’s stock valued at $23,611,000 after purchasing an additional 57,708 shares during the period. Ananym Capital Management LP bought a new position in BlackLine in the fourth quarter worth $17,497,000. Comerica Bank lifted its position in BlackLine by 18.9% during the fourth quarter. Comerica Bank now owns 168,230 shares of the technology company’s stock valued at $10,222,000 after buying an additional 26,792 shares during the period. Northern Trust Corp grew its position in shares of BlackLine by 14.9% in the 4th quarter. Northern Trust Corp now owns 745,397 shares of the technology company’s stock worth $45,290,000 after buying an additional 96,523 shares during the period. Finally, Tudor Investment Corp ET AL bought a new position in shares of BlackLine in the 4th quarter worth about $280,000. 95.13% of the stock is owned by institutional investors.

Insider Buying and Selling at BlackLine

In related news, CRO Mark Woodhams sold 9,088 shares of the business’s stock in a transaction 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 8.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on BL shares. Morgan Stanley cut their price objective on shares of BlackLine from $80.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. 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. Citigroup cut 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. The Goldman Sachs Group lowered their price target on BlackLine from $51.00 to $43.00 and set a “sell” rating for the company in a research report on Thursday, April 17th. Finally, DA Davidson reduced their price objective on shares of BlackLine from $58.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $60.33.

BlackLine Trading Up 8.7 %

Shares of BL stock opened at $50.70 on Thursday. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.59 and a quick ratio of 2.69. The company has a market cap of $3.20 billion, a price-to-earnings ratio of 34.97, a PEG ratio of 10.80 and a beta of 0.94. BlackLine, Inc. has a 1 year low of $40.82 and a 1 year high of $66.25. The firm has a fifty day moving average price of $47.30 and a 200-day moving average price of $55.21.

BlackLine (NASDAQ:BL) last released 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%. As a group, equities analysts predict that BlackLine, Inc. will post 0.9 earnings per share for the current year.

About BlackLine

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.