Canada Pension Plan Investment Board Has $2.32 Million Holdings in BlackLine, Inc. (NASDAQ:BL)

Canada Pension Plan Investment Board lifted its position in BlackLine, Inc. (NASDAQ:BL - Free Report) by 58.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 38,200 shares of the technology company's stock after acquiring an additional 14,100 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.06% of BlackLine worth $2,321,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in shares of BlackLine by 13.6% during the 3rd quarter. Principal Financial Group Inc. now owns 290,775 shares of the technology company's stock valued at $16,033,000 after acquiring an additional 34,919 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of BlackLine by 35.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,666,591 shares of the technology company's stock worth $91,896,000 after purchasing an additional 435,271 shares in the last quarter. Conestoga Capital Advisors LLC lifted its holdings in shares of BlackLine by 20.2% during the 4th quarter. Conestoga Capital Advisors LLC now owns 2,113,882 shares of the technology company's stock valued at $128,439,000 after buying an additional 354,784 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of BlackLine by 154.1% in the 4th quarter. Pacer Advisors Inc. now owns 4,159 shares of the technology company's stock valued at $253,000 after buying an additional 2,522 shares in the last quarter. Finally, Sei Investments Co. raised its position in BlackLine by 6.2% during the fourth quarter. Sei Investments Co. now owns 147,381 shares of the technology company's stock valued at $8,955,000 after acquiring an additional 8,558 shares in the last quarter. Institutional investors and hedge funds own 95.13% of the company's stock.

BlackLine Stock Performance

BL traded up $0.26 during trading on Tuesday, reaching $47.11. 69,091 shares of the company's stock were exchanged, compared to its average volume of 802,110. BlackLine, Inc. has a fifty-two week low of $40.82 and a fifty-two week high of $66.25. The company has a market capitalization of $2.97 billion, a P/E ratio of 32.56, a PEG ratio of 10.80 and a beta of 0.97. 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 business has a 50 day moving average price of $47.46 and a 200 day moving average price of $55.68.

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

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Morgan Stanley dropped their price target on shares of BlackLine from $80.00 to $65.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Citigroup reduced their price target on BlackLine from $73.00 to $70.00 and set a "buy" rating for the company in a research report on Wednesday, February 12th. BMO Capital Markets cut their price objective on BlackLine from $68.00 to $60.00 and set a "market perform" rating on the stock in a research note on Wednesday, February 12th. JMP Securities reaffirmed a "market outperform" rating and set a $86.00 target price on shares of BlackLine in a research report on Wednesday, January 15th. Finally, The Goldman Sachs Group dropped their price target on shares of BlackLine from $51.00 to $43.00 and set a "sell" rating on the stock in a research report on Thursday, April 17th. Two analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $60.00.

Insiders Place Their Bets

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 transaction of $451,400.96. Following the sale, the executive now directly owns 65,414 shares in the company, valued at $3,249,113.38. This represents a 12.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 8.60% of the company's stock.

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.