BlackLine, Inc. (NASDAQ:BL) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its position in BlackLine, Inc. (NASDAQ:BL - Free Report) by 16.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,369 shares of the technology company's stock after acquiring an additional 21,459 shares during the quarter. Envestnet Asset Management Inc. owned 0.24% of BlackLine worth $9,076,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. purchased a new position in BlackLine during the fourth quarter valued at approximately $31,000. Global Retirement Partners LLC lifted its stake 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 during the period. GAMMA Investing LLC grew its holdings in shares of BlackLine by 41.2% during 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. Headlands Technologies LLC acquired a new position in shares of BlackLine in the fourth quarter valued at about $50,000. Finally, Huntington National Bank raised its position in BlackLine by 596.4% during the 4th quarter. Huntington National Bank now owns 968 shares of the technology company's stock worth $59,000 after buying an additional 829 shares during the last quarter. 95.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BL. Morgan Stanley dropped their price objective on shares of BlackLine from $80.00 to $65.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. BMO Capital Markets dropped their price objective on shares of BlackLine from $68.00 to $60.00 and set a "market perform" rating for the company in a report on Wednesday, February 12th. JMP Securities reiterated a "market outperform" rating and set a $86.00 target price on shares of BlackLine in a report on Wednesday, January 15th. DA Davidson dropped their price target on shares of BlackLine from $58.00 to $55.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Bank of America raised BlackLine from an "underperform" rating to a "buy" rating and upped their price objective 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, five have assigned a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $60.00.

Insider Activity

In related news, CRO Mark Woodhams sold 9,088 shares of the company's stock in a transaction on Friday, February 21st. The stock was 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 directly 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 document filed with the SEC, which can be accessed through the SEC website. Company insiders own 8.60% of the company's stock.

BlackLine Stock Up 2.1 %

Shares of BL stock traded up $0.97 on Thursday, reaching $46.53. 64,017 shares of the stock were exchanged, compared to its average volume of 802,895. 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 business's 50 day moving average price is $47.70 and its 200 day moving average price is $55.84. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of 32.13, a PEG ratio of 10.80 and a beta of 0.97. BlackLine, Inc. has a twelve month low of $40.82 and a twelve month high of $66.25.

BlackLine (NASDAQ:BL - Get Free Report) last announced its earnings results 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%. As a group, sell-side analysts expect that BlackLine, Inc. will post 0.9 earnings per share 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.