Raymond James Financial Inc. acquired a new stake in shares of BlackLine, Inc. (NASDAQ:BL - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 391,208 shares of the technology company's stock, valued at approximately $23,770,000. Raymond James Financial Inc. owned approximately 0.63% of BlackLine as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in shares of BlackLine during the fourth quarter worth about $31,000. Global Retirement Partners LLC grew its holdings in BlackLine by 568.4% during the 4th quarter. Global Retirement Partners LLC now owns 528 shares of the technology company's stock valued at $32,000 after buying an additional 449 shares in the last quarter. GAMMA Investing LLC raised its position in shares of BlackLine by 41.2% during the fourth quarter. GAMMA Investing LLC now owns 634 shares of the technology company's stock valued at $39,000 after buying an additional 185 shares during the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of BlackLine by 19.8% in the fourth quarter. Asset Management One Co. Ltd. now owns 1,266 shares of the technology company's stock worth $77,000 after buying an additional 209 shares in the last quarter. Finally, KBC Group NV boosted its position in shares of BlackLine by 44.0% during the fourth quarter. KBC Group NV now owns 2,180 shares of the technology company's stock worth $132,000 after acquiring an additional 666 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several analysts have commented on the stock. BMO Capital Markets decreased their price target on shares of BlackLine from $68.00 to $60.00 and set a "market perform" rating on the stock in a research note on Wednesday, February 12th. StockNews.com downgraded BlackLine from a "buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Piper Sandler reduced their price objective on BlackLine from $60.00 to $58.00 and set an "underweight" rating on the stock in a research note on Wednesday, February 12th. Truist Financial lowered their target price on BlackLine from $60.00 to $55.00 and set a "hold" rating for the company in a research report on Wednesday, February 12th. Finally, JMP Securities restated a "market outperform" rating and issued a $86.00 price target on shares of BlackLine in a research report on Wednesday, January 15th. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, BlackLine presently has a consensus rating of "Hold" and an average target price of $66.40.
Read Our Latest Research Report on BlackLine
BlackLine Trading Up 1.2 %
BlackLine stock traded up $0.59 during midday trading on Wednesday, reaching $50.17. The stock had a trading volume of 325,048 shares, compared to its average volume of 776,384. BlackLine, Inc. has a 52-week low of $43.37 and a 52-week high of $69.09. The company has a fifty day moving average of $55.32 and a 200 day moving average of $56.78. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of 34.60, a price-to-earnings-growth ratio of 10.80 and a beta of 1.03. 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 (NASDAQ:BL - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.29). BlackLine had a return on equity of 21.63% and a net margin of 24.67%. On average, analysts anticipate that BlackLine, Inc. will post 0.9 earnings per share for the current fiscal year.
Insider Transactions at BlackLine
In related news, CRO Mark Woodhams sold 9,088 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was 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 of the company's stock, valued at $3,249,113.38. This represents a 12.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 9.93% of the company's stock.
BlackLine Company Profile
(
Free Report)
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.
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