Oppenheimer Asset Management Inc. Has $2.12 Million Stock Holdings in BlackLine, Inc. (NASDAQ:BL)

Oppenheimer Asset Management Inc. cut its holdings in shares of BlackLine, Inc. (NASDAQ:BL) by 8.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 34,888 shares of the technology company’s stock after selling 3,075 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in BlackLine were worth $2,120,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. FMR LLC boosted its position in BlackLine by 1.3% during the 3rd quarter. FMR LLC now owns 5,153,275 shares of the technology company’s stock worth $284,152,000 after buying an additional 64,435 shares during the period. Conestoga Capital Advisors LLC boosted its position in BlackLine by 20.2% during the 4th quarter. Conestoga Capital Advisors LLC now owns 2,113,882 shares of the technology company’s stock worth $128,439,000 after buying an additional 354,784 shares during the period. JPMorgan Chase & Co. raised its holdings in BlackLine by 35.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,666,591 shares of the technology company’s stock worth $91,896,000 after purchasing an additional 435,271 shares during the last quarter. Geode Capital Management LLC raised its holdings in BlackLine by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,282,017 shares of the technology company’s stock worth $70,704,000 after purchasing an additional 3,498 shares during the last quarter. Finally, Geneva Capital Management LLC raised its holdings in BlackLine by 2.8% during the 3rd quarter. Geneva Capital Management LLC now owns 895,810 shares of the technology company’s stock worth $49,395,000 after purchasing an additional 24,446 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors and hedge funds.

BlackLine Stock Performance

NASDAQ:BL opened at $48.30 on Monday. The company has a fifty day moving average of $58.29 and a 200-day moving average of $56.92. The firm has a market capitalization of $3.03 billion, a P/E ratio of 33.31, a P/E/G ratio of 10.80 and a beta of 0.92. The company has a quick ratio of 2.69, a current ratio of 2.59 and a debt-to-equity ratio of 2.00. BlackLine, Inc. has a twelve month low of $43.37 and a twelve month high of $69.31.

BlackLine (NASDAQ:BL) last posted 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, sell-side analysts anticipate that BlackLine, Inc. will post 0.9 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on BL shares. BMO Capital Markets lowered their price target on shares of BlackLine from $68.00 to $60.00 and set a “market perform” rating for the company in a report on Wednesday, February 12th. JMP Securities restated a “market outperform” rating and set a $86.00 price target on shares of BlackLine in a report on Wednesday, January 15th. Piper Sandler lowered their price target on shares of BlackLine from $60.00 to $58.00 and set an “underweight” rating for the company in a report on Wednesday, February 12th. Morgan Stanley raised their price target on shares of BlackLine from $70.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, StockNews.com lowered shares of BlackLine from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $66.40.

Insider Activity at BlackLine

In other BlackLine news, CRO Mark Woodhams sold 9,088 shares of BlackLine stock in a transaction on Friday, February 21st. The shares were sold at an average price of $49.67, for a total transaction of $451,400.96. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.93% of the stock is currently owned by insiders.

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.