Baillie Gifford & Co. Sells 13,687 Shares of BlackLine, Inc. (NASDAQ:BL)

Baillie Gifford & Co. decreased its position in BlackLine, Inc. (NASDAQ:BL) by 3.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 398,796 shares of the technology company’s stock after selling 13,687 shares during the quarter. Baillie Gifford & Co. owned approximately 0.64% of BlackLine worth $21,990,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of BL. Quarry LP purchased a new stake in BlackLine in the second quarter worth $32,000. EntryPoint Capital LLC purchased a new stake in shares of BlackLine in the 1st quarter worth about $36,000. 1620 Investment Advisors Inc. bought a new stake in shares of BlackLine during the 2nd quarter valued at about $64,000. Covestor Ltd increased its position in shares of BlackLine by 31.9% during the third quarter. Covestor Ltd now owns 1,392 shares of the technology company’s stock valued at $77,000 after buying an additional 337 shares during the period. Finally, Fifth Third Bancorp raised its stake in BlackLine by 13.0% in the second quarter. Fifth Third Bancorp now owns 2,306 shares of the technology company’s stock worth $112,000 after buying an additional 266 shares in the last quarter. 95.13% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CRO Mark Woodhams sold 1,387 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $51.70, for a total transaction of $71,707.90. Following the sale, the executive now owns 97,582 shares of the company’s stock, valued at $5,044,989.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CRO Mark Woodhams sold 1,387 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $51.70, for a total transaction of $71,707.90. Following the transaction, the executive now directly owns 97,582 shares of the company’s stock, valued at $5,044,989.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Karole Morgan-Prager sold 10,000 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $55.00, for a total value of $550,000.00. Following the completion of the transaction, the insider now owns 113,865 shares in the company, valued at approximately $6,262,575. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 135,495 shares of company stock valued at $7,560,534. 9.93% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. BTIG Research reduced their target price on BlackLine from $71.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Piper Sandler upped their price target on BlackLine from $51.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Morgan Stanley raised BlackLine from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $60.00 to $70.00 in a research report on Monday, September 30th. JPMorgan Chase & Co. upped their target price on shares of BlackLine from $47.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Finally, Truist Financial lifted their price target on shares of BlackLine from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $62.60.

BlackLine Stock Down 2.2 %

BL stock opened at $61.15 on Wednesday. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.95 and a quick ratio of 1.95. BlackLine, Inc. has a 1-year low of $43.37 and a 1-year high of $69.31. The stock has a market capitalization of $3.80 billion, a P/E ratio of 62.40, a P/E/G ratio of 14.79 and a beta of 0.90. The business has a fifty day moving average price of $54.42 and a 200-day moving average price of $51.62.

BlackLine Profile

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.