Charles Schwab Investment Management Inc. lifted its position in shares of BlackLine, Inc. (NASDAQ:BL - Free Report) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 501,699 shares of the technology company's stock after purchasing an additional 6,477 shares during the period. Charles Schwab Investment Management Inc. owned 0.80% of BlackLine worth $30,483,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of BL. SBI Securities Co. Ltd. bought a new position in BlackLine in the 4th quarter valued at about $31,000. Global Retirement Partners LLC lifted its holdings in 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 last quarter. GAMMA Investing LLC boosted its stake in BlackLine by 41.2% in the 4th quarter. GAMMA Investing LLC now owns 634 shares of the technology company's stock valued at $39,000 after purchasing an additional 185 shares during the period. Asset Management One Co. Ltd. grew its holdings in BlackLine by 19.8% in the 4th 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. Finally, KBC Group NV increased its position 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 buying an additional 666 shares during the period. 95.13% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on the stock. Bank of America upgraded shares of BlackLine from an "underperform" rating to a "buy" rating and upped their price target for the company from $50.00 to $75.00 in a research note on Thursday, January 30th. Truist Financial decreased their target price on shares of BlackLine from $60.00 to $55.00 and set a "hold" rating on the stock in a research report on Wednesday, February 12th. Piper Sandler dropped their price target on shares of BlackLine from $60.00 to $58.00 and set an "underweight" rating for the company in a research report on Wednesday, February 12th. StockNews.com downgraded BlackLine from a "buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Finally, BMO Capital Markets dropped their price objective on BlackLine from $68.00 to $60.00 and set a "market perform" rating for the company in a report on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, BlackLine presently has a consensus rating of "Hold" and an average target price of $66.40.
Get Our Latest Research Report on BlackLine
BlackLine Price Performance
BlackLine stock traded down $0.35 during midday trading on Thursday, reaching $49.81. The company's stock had a trading volume of 338,977 shares, compared to its average volume of 774,979. 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 cap of $3.13 billion, a PE ratio of 34.41, a price-to-earnings-growth ratio of 10.80 and a beta of 1.03. BlackLine, Inc. has a 52 week low of $43.37 and a 52 week high of $69.09. The business has a 50-day moving average price of $55.18 and a 200-day moving average price of $56.73.
BlackLine (NASDAQ:BL - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.29). BlackLine had a net margin of 24.67% and a return on equity of 21.63%. On average, sell-side analysts predict that BlackLine, Inc. will post 0.9 EPS for the current year.
Insider Activity
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 shares were sold at an average price of $49.67, for a total value of $451,400.96. Following the completion of the transaction, the executive now owns 65,414 shares in the company, valued at $3,249,113.38. This trade represents a 12.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.93% of the stock is owned by corporate insiders.
BlackLine Company Profile
(
Free Report)
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.
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