Hel Ved Capital Management Ltd Acquires New Stake in BlackLine, Inc. (NASDAQ:BL)

Hel Ved Capital Management Ltd acquired a new position in shares of BlackLine, Inc. (NASDAQ:BL - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 45,030 shares of the technology company's stock, valued at approximately $2,736,000. Hel Ved Capital Management Ltd owned about 0.07% of BlackLine as of its most recent SEC filing.

Several other large investors have also bought and sold shares of BL. American Century Companies Inc. grew its holdings in shares of BlackLine by 12,538.0% during the 4th quarter. American Century Companies Inc. now owns 896,665 shares of the technology company's stock valued at $54,481,000 after purchasing an additional 889,570 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of BlackLine by 35.3% during the third quarter. JPMorgan Chase & Co. now owns 1,666,591 shares of the technology company's stock worth $91,896,000 after buying an additional 435,271 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of BlackLine during the 4th quarter valued at $23,770,000. Conestoga Capital Advisors LLC grew 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 acquiring an additional 354,784 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of BlackLine during the fourth quarter valued at about $19,392,000. 95.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BL has been the topic of several recent research reports. JMP Securities reiterated a "market outperform" rating and set a $86.00 target price on shares of BlackLine in a research report on Wednesday, January 15th. Bank of America raised shares of BlackLine from an "underperform" rating to a "buy" rating and boosted their price objective for the stock from $50.00 to $75.00 in a research note on Thursday, January 30th. Truist Financial cut their target price on BlackLine from $55.00 to $40.00 and set a "hold" rating on the stock in a report on Monday. StockNews.com cut BlackLine from a "buy" rating to a "hold" rating in a research note on Wednesday, February 26th. Finally, Citigroup cut their price objective on BlackLine from $73.00 to $70.00 and set a "buy" rating on the stock in a research note on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, BlackLine presently has an average rating of "Hold" and an average target price of $64.27.

Insider Buying and Selling

In other BlackLine news, CRO Mark Woodhams sold 9,088 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $49.67, for a total value of $451,400.96. Following the completion of the sale, the executive now directly owns 65,414 shares of the company's stock, valued at approximately $3,249,113.38. This represents a 12.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 9.93% of the stock is currently owned by company insiders.

BlackLine Stock Down 3.8 %

Shares of NASDAQ BL traded down $1.73 during trading on Thursday, hitting $44.40. 486,688 shares of the company traded hands, compared to its average volume of 806,347. The company has a debt-to-equity ratio of 2.00, a quick ratio of 2.69 and a current ratio of 2.59. The business's fifty day moving average is $50.85 and its 200 day moving average is $56.43. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 30.52, a P/E/G ratio of 10.80 and a beta of 0.97. BlackLine, Inc. has a fifty-two week low of $40.82 and a fifty-two week high of $66.48.

BlackLine (NASDAQ:BL - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.21 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%. Equities research analysts predict that BlackLine, Inc. will post 0.9 earnings per share for the current fiscal year.

BlackLine Profile

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.