Intech Investment Management LLC boosted its holdings in BlackLine, Inc. (NASDAQ:BL - Free Report) by 36.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,201 shares of the technology company's stock after purchasing an additional 5,360 shares during the quarter. Intech Investment Management LLC's holdings in BlackLine were worth $1,227,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new stake in shares of BlackLine in the fourth quarter valued at approximately $31,000. Global Retirement Partners LLC grew its position in BlackLine by 568.4% during the 4th quarter. Global Retirement Partners LLC now owns 528 shares of the technology company's stock worth $32,000 after purchasing an additional 449 shares during the last quarter. GAMMA Investing LLC raised its holdings 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. boosted 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 worth $77,000 after buying an additional 209 shares during the period. Finally, KBC Group NV grew its holdings 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 worth $132,000 after buying an additional 666 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors and hedge funds.
BlackLine Price Performance
Shares of BL stock traded down $0.14 during midday trading on Wednesday, reaching $50.52. 427,645 shares of the company traded hands, compared to its average volume of 773,151. The firm has a market cap of $3.17 billion, a PE ratio of 34.84, a price-to-earnings-growth ratio of 10.80 and a beta of 1.03. 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's 50 day simple moving average is $54.65 and its two-hundred day simple moving average is $56.84. BlackLine, Inc. has a 1-year low of $43.37 and a 1-year high of $69.09.
BlackLine (NASDAQ:BL - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.21 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, equities research analysts expect that BlackLine, Inc. will post 0.9 EPS for the current fiscal year.
Analysts Set New Price Targets
BL has been the topic of several analyst reports. Piper Sandler lowered their target price on BlackLine from $60.00 to $58.00 and set an "underweight" rating on the stock in a research note on Wednesday, February 12th. BMO Capital Markets lowered their price objective on shares of BlackLine from $68.00 to $60.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 12th. JMP Securities restated a "market outperform" rating and set a $86.00 price objective on shares of BlackLine in a research report on Wednesday, January 15th. Citigroup lowered their target price on shares of BlackLine from $73.00 to $70.00 and set a "buy" rating on the stock in a report on Wednesday, February 12th. Finally, Truist Financial cut their price target on shares of BlackLine from $60.00 to $55.00 and set a "hold" rating for the company in a report on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, BlackLine currently has a consensus rating of "Hold" and a consensus price target of $66.40.
View Our Latest Research Report on BL
Insider Transactions at BlackLine
In related news, CRO Mark Woodhams sold 9,088 shares of the business's stock in a transaction dated Friday, February 21st. The shares were 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 9.93% of the company's stock.
BlackLine Profile
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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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