Cibc World Markets Corp bought a new stake in BlackLine, Inc. (NASDAQ:BL - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,401 shares of the technology company's stock, valued at approximately $328,000.
Several other institutional investors also recently made changes to their positions in BL. SBI Securities Co. Ltd. acquired a new position in BlackLine in the 4th quarter valued at about $31,000. Global Retirement Partners LLC grew its holdings in shares of BlackLine by 568.4% during the fourth quarter. Global Retirement Partners LLC now owns 528 shares of the technology company's stock worth $32,000 after buying an additional 449 shares in the last quarter. GAMMA Investing LLC raised its position in shares of BlackLine by 41.2% in the fourth quarter. GAMMA Investing LLC now owns 634 shares of the technology company's stock valued at $39,000 after buying 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 buying an additional 209 shares during the period. Finally, KBC Group NV lifted its stake in shares of BlackLine by 44.0% during the fourth quarter. KBC Group NV now owns 2,180 shares of the technology company's stock valued at $132,000 after buying an additional 666 shares during the period. 95.13% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several brokerages have weighed in on BL. BMO Capital Markets cut their price target on BlackLine from $68.00 to $60.00 and set a "market perform" rating for the company in a report on Wednesday, February 12th. Truist Financial reduced their target price on BlackLine from $60.00 to $55.00 and set a "hold" rating on the stock in a research report on Wednesday, February 12th. Citigroup lowered their price target on BlackLine from $73.00 to $70.00 and set a "buy" rating for the company in a report 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, Bank of America raised shares of BlackLine from an "underperform" rating to a "buy" rating and raised their target price for the stock from $50.00 to $75.00 in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, BlackLine presently has an average rating of "Hold" and an average target price of $66.40.
View Our Latest Research Report on BlackLine
BlackLine Stock Down 2.7 %
BL stock traded down $1.38 during midday trading on Friday, hitting $48.81. 382,766 shares of the company's stock were exchanged, compared to its average volume of 799,834. 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 firm has a 50 day moving average price of $54.29 and a 200-day moving average price of $56.75. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of 33.66, a price-to-earnings-growth ratio of 10.80 and a beta of 1.03. BlackLine, Inc. has a 12-month low of $43.37 and a 12-month high of $69.09.
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 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%. On average, analysts anticipate that BlackLine, Inc. will post 0.9 EPS for the current year.
Insider Activity at BlackLine
In other news, CRO Mark Woodhams sold 9,088 shares of the company'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 completion of the transaction, the executive now owns 65,414 shares in the company, valued at approximately $3,249,113.38. This represents a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 9.93% of the company's stock.
About BlackLine
(
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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