Geneva Capital Management LLC Purchases 24,446 Shares of BlackLine, Inc. (NASDAQ:BL)

Geneva Capital Management LLC increased its position in BlackLine, Inc. (NASDAQ:BL - Free Report) by 2.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 895,810 shares of the technology company's stock after acquiring an additional 24,446 shares during the period. Geneva Capital Management LLC owned approximately 1.44% of BlackLine worth $49,395,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Janney Montgomery Scott LLC increased its position in BlackLine by 7.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 21,119 shares of the technology company's stock worth $1,364,000 after purchasing an additional 1,491 shares in the last quarter. SG Americas Securities LLC raised its position in shares of BlackLine by 60.4% in the first quarter. SG Americas Securities LLC now owns 4,746 shares of the technology company's stock valued at $306,000 after buying an additional 1,787 shares during the last quarter. Swiss National Bank lifted its stake in shares of BlackLine by 0.7% during the first quarter. Swiss National Bank now owns 102,800 shares of the technology company's stock valued at $6,639,000 after buying an additional 700 shares during the period. ProShare Advisors LLC boosted its position in BlackLine by 19.7% during the first quarter. ProShare Advisors LLC now owns 11,917 shares of the technology company's stock worth $770,000 after acquiring an additional 1,959 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System grew its stake in BlackLine by 11.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 17,944 shares of the technology company's stock worth $1,205,000 after acquiring an additional 1,850 shares during the period. Institutional investors and hedge funds own 95.13% of the company's stock.

Insider Buying and Selling at BlackLine

In other BlackLine news, insider Karole Morgan-Prager sold 27,079 shares of the company's stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $60.06, for a total transaction of $1,626,364.74. Following the completion of the sale, the insider now owns 113,865 shares of the company's stock, valued at $6,838,731.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other BlackLine news, insider Karole Morgan-Prager sold 27,079 shares of BlackLine stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $60.06, for a total value of $1,626,364.74. Following the transaction, the insider now directly owns 113,865 shares of the company's stock, valued at $6,838,731.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Mark Partin sold 5,648 shares of the stock in a transaction dated Friday, September 27th. The shares were 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 owns 226,844 shares of the company's stock, valued at approximately $12,022,732. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 135,495 shares of company stock worth $7,560,534 over the last three months. Corporate insiders own 9.93% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Morgan Stanley raised shares of BlackLine from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $60.00 to $70.00 in a research note on Monday, September 30th. JPMorgan Chase & Co. lifted their target price on shares of BlackLine from $47.00 to $50.00 and gave the company an "underweight" rating in a report on Friday, October 25th. Piper Sandler upped their target price on shares of BlackLine from $51.00 to $60.00 and gave the company a "neutral" rating in a research note on Friday, November 8th. Truist Financial raised their price target on shares of BlackLine from $55.00 to $60.00 and gave the stock a "hold" rating in a research report on Monday. Finally, Robert W. Baird reduced their price objective on shares of BlackLine from $72.00 to $65.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $62.60.

BlackLine Stock Up 2.4 %

NASDAQ BL traded up $1.47 on Wednesday, reaching $62.62. The stock had a trading volume of 283,139 shares, compared to its average volume of 884,479. BlackLine, Inc. has a 1 year low of $43.37 and a 1 year high of $69.31. The business has a 50 day moving average price of $54.42 and a 200 day moving average price of $51.62. The company has a current ratio of 2.69, a quick ratio of 1.95 and a debt-to-equity ratio of 2.42. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of 63.86, a P/E/G ratio of 14.98 and a beta of 0.90.

About BlackLine

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.