Charles Schwab Investment Management Inc. raised its holdings in BlackLine, Inc. (NASDAQ:BL - Free Report) by 4.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 495,222 shares of the technology company's stock after buying an additional 20,027 shares during the period. Charles Schwab Investment Management Inc. owned 0.80% of BlackLine worth $27,307,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cetera Investment Advisers acquired a new position in shares of BlackLine during the 1st quarter worth about $1,572,000. Teachers Retirement System of The State of Kentucky acquired a new position in shares of BlackLine during the 1st quarter worth about $907,000. Point72 DIFC Ltd acquired a new position in shares of BlackLine during the 2nd quarter worth about $537,000. Susquehanna Fundamental Investments LLC grew its stake in BlackLine by 430.5% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 90,403 shares of the technology company's stock valued at $4,380,000 after buying an additional 73,362 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in BlackLine by 61.9% in the 3rd quarter. Victory Capital Management Inc. now owns 25,677 shares of the technology company's stock valued at $1,416,000 after buying an additional 9,820 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other BlackLine news, insider Karole Morgan-Prager sold 5,773 shares of BlackLine stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $55.14, for a total value of $318,323.22. Following the sale, the insider now owns 113,865 shares of the company's stock, valued at approximately $6,278,516.10. The trade was a 4.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mark Partin sold 5,648 shares of BlackLine stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $53.00, for a total transaction of $299,344.00. Following the completion of the sale, the chief financial officer now directly owns 226,844 shares in the company, valued at approximately $12,022,732. This represents a 2.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 134,108 shares of company stock worth $7,488,826 over the last three months. 9.93% of the stock is currently owned by insiders.
BlackLine Stock Down 0.9 %
BL traded down $0.59 during midday trading on Thursday, hitting $62.91. The company had a trading volume of 321,370 shares, compared to its average volume of 870,921. BlackLine, Inc. has a 52 week low of $43.37 and a 52 week high of $69.31. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 2.42. The company has a market capitalization of $3.93 billion, a price-to-earnings ratio of 64.80, a PEG ratio of 14.74 and a beta of 0.90. The stock's 50 day moving average price is $58.08 and its 200 day moving average price is $51.92.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on BL shares. Robert W. Baird cut their price objective on shares of BlackLine from $72.00 to $65.00 and set an "outperform" rating for the company in a report on Wednesday, August 7th. Truist Financial boosted their price objective on shares of BlackLine from $55.00 to $60.00 and gave the company a "hold" rating in a report on Monday, November 11th. BTIG Research cut their price objective on shares of BlackLine from $71.00 to $65.00 and set a "buy" rating for the company in a report on Wednesday, August 7th. Morgan Stanley boosted their price objective on shares of BlackLine from $70.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, November 15th. Finally, Piper Sandler reissued a "neutral" rating and issued a $60.00 price objective on shares of BlackLine in a report on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, BlackLine has a consensus rating of "Hold" and an average target price of $64.10.
View Our Latest Research Report on BlackLine
About BlackLine
(
Free Report)
BlackLine, Inc provides cloud-based solutions to automate and streamline accounting and finance operations worldwide. It offers financial close management solutions, such as account reconciliations that provides a centralized workspace for users to collaborate on account reconciliations; transaction matching that analyzes and reconciles individual transactions; task management to create and manage processes and task lists; and financial reporting analytics that enables analysis and validation of financial data.
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