19,834 Shares in BlackLine, Inc. (NASDAQ:BL) Acquired by Integrated Quantitative Investments LLC

Integrated Quantitative Investments LLC acquired a new position in BlackLine, Inc. (NASDAQ:BL - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 19,834 shares of the technology company's stock, valued at approximately $1,205,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. HighTower Advisors LLC boosted its holdings in shares of BlackLine by 2.5% in the 4th quarter. HighTower Advisors LLC now owns 6,475 shares of the technology company's stock worth $393,000 after purchasing an additional 161 shares in the last quarter. GAMMA Investing LLC lifted its position in BlackLine by 41.2% in the 4th quarter. GAMMA Investing LLC now owns 634 shares of the technology company's stock worth $39,000 after buying an additional 185 shares during the last quarter. Arizona State Retirement System boosted its stake in BlackLine by 1.3% in the fourth quarter. Arizona State Retirement System now owns 15,322 shares of the technology company's stock worth $931,000 after buying an additional 192 shares in the last quarter. Louisiana State Employees Retirement System grew its position in BlackLine by 0.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 25,100 shares of the technology company's stock valued at $1,525,000 after acquiring an additional 200 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised 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 acquiring an additional 209 shares in the last quarter. 95.13% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CRO Mark Woodhams sold 9,088 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $49.67, for a total transaction of $451,400.96. Following the sale, the executive now owns 65,414 shares in the company, valued at $3,249,113.38. This represents a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 9.93% of the company's stock.

BlackLine Trading Up 1.1 %

Shares of NASDAQ:BL traded up $0.47 on Wednesday, hitting $42.74. The company had a trading volume of 380,875 shares, compared to its average volume of 805,416. BlackLine, Inc. has a 1 year low of $40.82 and a 1 year high of $69.09. The company has a quick ratio of 2.69, a current ratio of 2.59 and a debt-to-equity ratio of 2.00. The firm's 50-day simple moving average is $51.55 and its two-hundred day simple moving average is $56.54. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of 29.25, a P/E/G ratio of 10.80 and a beta of 0.97.

BlackLine (NASDAQ:BL - Get Free Report) last posted 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%. Equities analysts anticipate that BlackLine, Inc. will post 0.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BL has been the subject of a number of research reports. Citigroup cut their price objective 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. Truist Financial reduced 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. BMO Capital Markets lowered their target price on BlackLine from $68.00 to $60.00 and set a "market perform" rating for the company in a research note on Wednesday, February 12th. JMP Securities restated a "market outperform" rating and set a $86.00 target price on shares of BlackLine in a report on Wednesday, January 15th. Finally, DA Davidson began coverage on BlackLine in a research note on Tuesday, April 1st. They issued a "buy" rating and a $58.00 price target on the stock. 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. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $64.27.

BlackLine 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.