Dynamic Technology Lab Private Ltd Takes $352,000 Position in BlackLine, Inc. (NASDAQ:BL)

Dynamic Technology Lab Private Ltd purchased a new stake in BlackLine, Inc. (NASDAQ:BL - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 5,796 shares of the technology company's stock, valued at approximately $352,000.

A number of other institutional investors have also recently modified their holdings of BL. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of BlackLine by 0.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 119,072 shares of the technology company's stock worth $6,566,000 after acquiring an additional 753 shares during the period. Centiva Capital LP purchased a new position in shares of BlackLine in the third quarter valued at $336,000. Y Intercept Hong Kong Ltd acquired a new position in shares of BlackLine during the 3rd quarter worth $713,000. Geode Capital Management LLC grew its stake in BlackLine by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,282,017 shares of the technology company's stock valued at $70,704,000 after acquiring an additional 3,498 shares during the last quarter. Finally, Tidal Investments LLC grew its stake in BlackLine by 1.6% in the 3rd quarter. Tidal Investments LLC now owns 13,539 shares of the technology company's stock valued at $747,000 after acquiring an additional 219 shares during the last quarter. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Bank of America raised 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 report on Thursday, January 30th. DA Davidson lowered their target price on BlackLine from $58.00 to $55.00 and set a "buy" rating on the stock in a report on Monday. Piper Sandler cut their price target on BlackLine from $60.00 to $58.00 and set an "underweight" rating for the company in a report on Wednesday, February 12th. Truist Financial decreased their price objective on BlackLine from $55.00 to $40.00 and set a "hold" rating on the stock in a research note on Monday, April 7th. Finally, Citigroup cut their target price on shares of BlackLine from $73.00 to $70.00 and set a "buy" rating for the company in a research note on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $64.00.

Insider Activity

In related news, CRO Mark Woodhams sold 9,088 shares of the business'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 of the company's stock, valued at approximately $3,249,113.38. The trade was a 12.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 9.93% of the company's stock.

BlackLine Trading Down 0.6 %

Shares of BL traded down $0.29 during mid-day trading on Tuesday, reaching $45.76. The company had a trading volume of 150,939 shares, compared to its average volume of 808,515. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 31.50, a price-to-earnings-growth ratio of 10.80 and a beta of 0.97. 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 fifty day simple moving average of $49.71 and a 200-day simple moving average of $56.33. BlackLine, Inc. has a fifty-two week low of $40.82 and a fifty-two week high of $66.25.

BlackLine (NASDAQ:BL - Get Free Report) last released 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 net margin of 24.67% and a return on equity of 21.63%. On average, sell-side analysts anticipate that BlackLine, Inc. will post 0.9 EPS for the current fiscal year.

About BlackLine

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.