XTX Topco Ltd Makes New Investment in BlackLine, Inc. (NASDAQ:BL)

XTX Topco Ltd bought a new stake in BlackLine, Inc. (NASDAQ:BL - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 19,932 shares of the technology company's stock, valued at approximately $1,099,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Weiss Asset Management LP bought a new position in BlackLine during the third quarter valued at approximately $1,506,000. Point72 Asset Management L.P. grew its position in BlackLine by 63.0% during the third quarter. Point72 Asset Management L.P. now owns 317,991 shares of the technology company's stock valued at $17,534,000 after acquiring an additional 122,849 shares during the last quarter. Centiva Capital LP bought a new position in BlackLine during the third quarter valued at approximately $336,000. Atom Investors LP bought a new position in BlackLine during the third quarter valued at approximately $285,000. Finally, Scalar Gauge Management LLC grew its position in BlackLine by 44.4% during the third quarter. Scalar Gauge Management LLC now owns 65,000 shares of the technology company's stock valued at $3,584,000 after acquiring an additional 20,000 shares during the last quarter. 95.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on BL. Morgan Stanley increased their price target on shares of BlackLine from $70.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. JPMorgan Chase & Co. raised their target price on shares of BlackLine from $47.00 to $50.00 and gave the stock an "underweight" rating in a report on Friday, October 25th. JMP Securities raised their target price on shares of BlackLine from $81.00 to $86.00 and gave the stock a "market outperform" rating in a report on Friday, November 22nd. Truist Financial raised their target price on shares of BlackLine from $55.00 to $60.00 and gave the stock a "hold" rating in a report on Monday, November 11th. Finally, Piper Sandler restated a "neutral" rating and issued a $60.00 target price on shares of BlackLine in a report on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $64.10.

BlackLine Trading Down 0.2 %

BL stock traded down $0.10 on Tuesday, reaching $63.33. The company's stock had a trading volume of 333,149 shares, compared to its average volume of 864,676. The business has a fifty day simple moving average of $58.87 and a two-hundred day simple moving average of $52.22. BlackLine, Inc. has a 12-month low of $43.37 and a 12-month high of $69.31. The firm has a market cap of $3.96 billion, a PE ratio of 64.62, a PEG ratio of 15.08 and a beta of 0.90. The company has a debt-to-equity ratio of 2.42, a quick ratio of 2.69 and a current ratio of 2.69.

Insider Buying and Selling at BlackLine

In other news, insider Karole Morgan-Prager sold 10,000 shares of BlackLine stock in a transaction dated 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 of the company's stock, valued at $6,262,575. The trade was a 8.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Partin sold 5,648 shares of BlackLine stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $53.00, for a total value of $299,344.00. Following the completion of the sale, the chief financial officer now owns 226,844 shares of the company's stock, valued at $12,022,732. The trade was a 2.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 134,108 shares of company stock valued at $7,488,826. 9.53% of the stock is currently owned by company insiders.

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.