American Century Companies Inc. Has $54.48 Million Holdings in BlackLine, Inc. (NASDAQ:BL)

American Century Companies Inc. grew its position in shares of BlackLine, Inc. (NASDAQ:BL - Free Report) by 12,538.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 896,665 shares of the technology company's stock after buying an additional 889,570 shares during the quarter. American Century Companies Inc. owned approximately 1.43% of BlackLine worth $54,481,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in shares of BlackLine in the fourth quarter worth about $31,000. Global Retirement Partners LLC boosted its position in BlackLine by 568.4% in 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 during 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 worth $39,000 after acquiring an additional 185 shares during the last quarter. Asset Management One Co. Ltd. lifted its stake in shares of BlackLine by 19.8% during the fourth quarter. Asset Management One Co. Ltd. now owns 1,266 shares of the technology company's stock valued at $77,000 after acquiring an additional 209 shares during the period. Finally, KBC Group NV boosted its holdings in BlackLine by 44.0% in the fourth quarter. KBC Group NV now owns 2,180 shares of the technology company's stock valued at $132,000 after acquiring an additional 666 shares during the last quarter. Institutional investors own 95.13% of the company's stock.

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BlackLine Stock Down 2.7 %

Shares of NASDAQ:BL traded down $1.38 during mid-day trading on Friday, reaching $48.81. 382,766 shares of the stock were exchanged, compared to its average volume of 800,447. The stock's 50 day simple moving average is $54.08 and its 200-day simple moving average is $56.81. BlackLine, Inc. has a one year low of $43.37 and a one year high of $69.09. The company has a market cap of $3.07 billion, a P/E ratio of 33.66, a P/E/G 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 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 predict that BlackLine, Inc. will post 0.9 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BL. BMO Capital Markets cut their target price on shares of BlackLine from $68.00 to $60.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 12th. Citigroup lowered their target price on shares of BlackLine from $73.00 to $70.00 and set a "buy" rating for the company in a report on Wednesday, February 12th. Truist Financial cut their price target on BlackLine from $60.00 to $55.00 and set a "hold" rating on the stock in a research note on Wednesday, February 12th. JMP Securities reaffirmed a "market outperform" rating and set a $86.00 price objective on shares of BlackLine in a research note on Wednesday, January 15th. Finally, StockNews.com lowered BlackLine from a "buy" rating to a "hold" rating in a research note on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, BlackLine has a consensus rating of "Hold" and an average target price of $66.40.

Insider Buying and Selling

In other news, CRO Mark Woodhams sold 9,088 shares of the business's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $49.67, for a total transaction of $451,400.96. Following the transaction, the executive now directly owns 65,414 shares in the company, valued at $3,249,113.38. The trade was a 12.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 9.93% of the stock is currently owned by corporate insiders.

BlackLine Company 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.