Alberta Investment Management Corp Takes Position in BlackLine, Inc. (NASDAQ:BL)

Alberta Investment Management Corp bought a new position in shares of BlackLine, Inc. (NASDAQ:BL - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 49,535 shares of the technology company's stock, valued at approximately $3,010,000. Alberta Investment Management Corp owned 0.08% of BlackLine at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Global Retirement Partners LLC boosted its position in shares of BlackLine by 568.4% during the 4th quarter. Global Retirement Partners LLC now owns 528 shares of the technology company's stock worth $32,000 after purchasing an additional 449 shares during the period. GAMMA Investing LLC boosted 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 worth $39,000 after buying an additional 185 shares during the period. Asset Management One Co. Ltd. grew its stake 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 valued at $77,000 after buying an additional 209 shares in the last quarter. Covestor Ltd raised its holdings in shares of BlackLine by 31.9% in the 3rd quarter. Covestor Ltd now owns 1,392 shares of the technology company's stock valued at $77,000 after buying an additional 337 shares during the period. Finally, KBC Group NV lifted its stake in BlackLine by 44.0% during the 4th quarter. KBC Group NV now owns 2,180 shares of the technology company's stock worth $132,000 after acquiring an additional 666 shares in the last quarter. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at BlackLine

In related news, CRO Mark Woodhams sold 24,408 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $64.32, for a total transaction of $1,569,922.56. Following the completion of the sale, the executive now owns 72,920 shares in the company, valued at $4,690,214.40. This represents a 25.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 9.93% of the company's stock.

BlackLine Stock Down 0.3 %

BL stock traded down $0.15 during trading on Friday, hitting $49.17. 1,711,126 shares of the company's stock were exchanged, compared to its average volume of 784,705. The business has a 50-day moving average price of $59.77 and a two-hundred day moving average price of $56.91. The company has a current ratio of 2.59, a quick ratio of 2.69 and a debt-to-equity ratio of 2.00. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of 33.91, a PEG ratio of 10.64 and a beta of 0.92. BlackLine, Inc. has a 52-week low of $43.37 and a 52-week high of $69.31.

BlackLine (NASDAQ:BL - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.29). BlackLine had a return on equity of 21.63% and a net margin of 24.67%. As a group, equities research analysts expect that BlackLine, Inc. will post 0.93 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on BL shares. JPMorgan Chase & Co. lifted their target price on BlackLine from $47.00 to $50.00 and gave the company an "underweight" rating in a research report on Friday, October 25th. JMP Securities restated a "market outperform" rating and issued a $86.00 price objective on shares of BlackLine in a report on Wednesday, January 15th. StockNews.com upgraded shares of BlackLine from a "hold" rating to a "buy" rating in a report on Thursday, February 13th. Truist Financial reduced their price objective on BlackLine from $60.00 to $55.00 and set a "hold" rating on the stock in a research note on Wednesday, February 12th. Finally, Morgan Stanley upped their price target on BlackLine from $70.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, BlackLine currently has a consensus rating of "Hold" and a consensus target price of $66.40.

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.