BlackLine, Inc. (NASDAQ:BL) Stock Holdings Increased by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its stake in BlackLine, Inc. (NASDAQ:BL - Free Report) by 21.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 489,200 shares of the technology company's stock after acquiring an additional 84,800 shares during the period. Handelsbanken Fonder AB owned 0.78% of BlackLine worth $29,724,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. FMR LLC grew its position in shares of BlackLine by 1.3% during the third quarter. FMR LLC now owns 5,153,275 shares of the technology company's stock worth $284,152,000 after acquiring an additional 64,435 shares during the last quarter. Conestoga Capital Advisors LLC boosted its stake in BlackLine by 20.2% during the 4th quarter. Conestoga Capital Advisors LLC now owns 2,113,882 shares of the technology company's stock valued at $128,439,000 after purchasing an additional 354,784 shares during the period. JPMorgan Chase & Co. grew its position in BlackLine by 35.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,666,591 shares of the technology company's stock worth $91,896,000 after purchasing an additional 435,271 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of BlackLine by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,282,017 shares of the technology company's stock valued at $70,704,000 after purchasing an additional 3,498 shares during the period. Finally, Geneva Capital Management LLC increased its stake in shares of BlackLine by 2.8% in the third quarter. Geneva Capital Management LLC now owns 895,810 shares of the technology company's stock valued at $49,395,000 after purchasing an additional 24,446 shares during the period. 95.13% of the stock is owned by institutional investors.

Insider Transactions at BlackLine

In other news, CRO Mark Woodhams sold 24,408 shares of BlackLine stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $64.32, for a total value of $1,569,922.56. Following the transaction, the executive now directly owns 72,920 shares of the company's stock, valued at $4,690,214.40. This trade represents a 25.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 9.93% of the stock is owned by insiders.

BlackLine Price Performance

Shares of BL traded down $0.15 during mid-day trading on Friday, hitting $49.17. The company's stock had a trading volume of 1,711,126 shares, compared to its average volume of 784,705. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.59 and a quick ratio of 2.69. The firm has a 50-day moving average price of $59.77 and a 200 day moving average price of $56.91. BlackLine, Inc. has a fifty-two week low of $43.37 and a fifty-two week high of $69.31. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of 33.91, a PEG ratio of 10.64 and a beta of 0.92.

BlackLine (NASDAQ:BL - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.21 earnings per share (EPS) 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, research analysts predict that BlackLine, Inc. will post 0.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BL has been the subject of several analyst reports. StockNews.com upgraded BlackLine from a "hold" rating to a "buy" rating in a research report on Thursday, February 13th. BMO Capital Markets reduced their price target on BlackLine from $68.00 to $60.00 and set a "market perform" rating for the company in a research report on Wednesday, February 12th. JMP Securities reissued a "market outperform" rating and set a $86.00 price target on shares of BlackLine in a report on Wednesday, January 15th. Bank of America raised shares of 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 report on Thursday, January 30th. Finally, Morgan Stanley increased their target price on shares of BlackLine from $70.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $66.40.

BlackLine Company Profile

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.