Advantage Alpha Capital Partners LP Purchases 27,081 Shares of BlackLine, Inc. (NASDAQ:BL)

Advantage Alpha Capital Partners LP boosted its position in BlackLine, Inc. (NASDAQ:BL - Free Report) by 51.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,440 shares of the technology company's stock after buying an additional 27,081 shares during the period. Advantage Alpha Capital Partners LP owned approximately 0.13% of BlackLine worth $4,827,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in BL. HighTower Advisors LLC grew its stake in BlackLine by 2.5% in the fourth quarter. HighTower Advisors LLC now owns 6,475 shares of the technology company's stock valued at $393,000 after acquiring an additional 161 shares during the period. GAMMA Investing LLC lifted its holdings in shares of BlackLine by 41.2% in the 4th quarter. GAMMA Investing LLC now owns 634 shares of the technology company's stock worth $39,000 after purchasing an additional 185 shares in the last quarter. Arizona State Retirement System grew its position in BlackLine by 1.3% in the 4th quarter. Arizona State Retirement System now owns 15,322 shares of the technology company's stock valued at $931,000 after purchasing an additional 192 shares during the period. Louisiana State Employees Retirement System increased its stake in BlackLine by 0.8% during the 4th quarter. Louisiana State Employees Retirement System now owns 25,100 shares of the technology company's stock valued at $1,525,000 after purchasing an additional 200 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in BlackLine by 19.8% during 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 during the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

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BlackLine Stock Performance

BL traded down $1.38 during trading on Friday, hitting $48.81. 382,766 shares of the company traded hands, compared to its average volume of 800,447. BlackLine, Inc. has a one year low of $43.37 and a one year high of $69.09. The stock's fifty day moving average is $54.08 and its 200 day moving average is $56.75. The company has a quick ratio of 2.69, a current ratio of 2.59 and a debt-to-equity ratio of 2.00. The firm has a market cap of $3.07 billion, a P/E ratio of 33.66, a price-to-earnings-growth ratio of 10.80 and a beta of 1.03.

BlackLine (NASDAQ:BL - Get Free Report) last released its earnings results on Tuesday, February 11th. The technology company reported $0.21 earnings per share for the quarter, missing analysts' consensus estimates 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, equities analysts predict that BlackLine, Inc. will post 0.9 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on BL shares. Bank of America upgraded shares of BlackLine from an "underperform" rating to a "buy" rating and lifted their price objective for the company from $50.00 to $75.00 in a report on Thursday, January 30th. Citigroup cut their price target on BlackLine from $73.00 to $70.00 and set a "buy" rating for the company in a research note on Wednesday, February 12th. BMO Capital Markets lowered their price objective on BlackLine from $68.00 to $60.00 and set a "market perform" rating for the company in a research note on Wednesday, February 12th. StockNews.com cut BlackLine from a "buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Finally, Piper Sandler lowered their price target on BlackLine from $60.00 to $58.00 and set an "underweight" rating for the company in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $66.40.

Insiders Place Their Bets

In other news, CRO Mark Woodhams sold 9,088 shares of BlackLine stock in a transaction dated 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 in the company, valued at approximately $3,249,113.38. The trade was a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 9.93% of the company's stock.

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.