Ceera Investments LLC Acquires 11,345 Shares of BlackLine, Inc. (NASDAQ:BL)

Ceera Investments LLC grew its position in shares of BlackLine, Inc. (NASDAQ:BL - Free Report) by 160.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,414 shares of the technology company's stock after buying an additional 11,345 shares during the period. Ceera Investments LLC's holdings in BlackLine were worth $1,119,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in BL. Engaged Capital LLC purchased a new position in shares of BlackLine during the 3rd quarter valued at $33,620,000. 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 valued at $91,896,000 after purchasing an additional 435,271 shares during the period. Raymond James Financial Inc. bought a new stake in shares of BlackLine during the 4th quarter valued at $23,770,000. Conestoga Capital Advisors LLC raised its stake 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 purchasing an additional 354,784 shares during the period. Finally, Point72 Asset Management L.P. raised its stake in shares of BlackLine by 63.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 317,991 shares of the technology company's stock valued at $17,534,000 after purchasing an additional 122,849 shares during the period. Hedge funds and other institutional investors own 95.13% of the company's stock.

Wall Street Analyst Weigh In

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

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Insider Buying and Selling

In related news, CRO Mark Woodhams sold 9,088 shares of the firm's 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 transaction, the executive now directly owns 65,414 shares in the company, valued at $3,249,113.38. This trade represents a 12.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.93% of the stock is owned by corporate insiders.

BlackLine Price Performance

Shares of NASDAQ BL traded up $0.15 during trading hours on Wednesday, reaching $48.20. 703,838 shares of the stock traded hands, compared to its average volume of 826,472. The company has a market capitalization of $3.03 billion, a P/E ratio of 33.24, a price-to-earnings-growth 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, Inc. has a 52-week low of $43.37 and a 52-week high of $69.31. The company's 50-day simple moving average is $56.17 and its two-hundred day simple moving average is $56.75.

BlackLine (NASDAQ:BL - Get Free Report) last announced its quarterly earnings data 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%. Equities research analysts forecast that BlackLine, Inc. will post 0.9 EPS for the current 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.