Handelsbanken Fonder AB Increases Stake in BlackLine, Inc. (NASDAQ:BL)

Handelsbanken Fonder AB grew its stake in shares of BlackLine, Inc. (NASDAQ:BL - Free Report) by 40.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 404,400 shares of the technology company's stock after buying an additional 116,900 shares during the quarter. Handelsbanken Fonder AB owned 0.65% of BlackLine worth $22,299,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Hawk Ridge Capital Management LP raised its holdings in shares of BlackLine by 85.4% during the 4th quarter. Hawk Ridge Capital Management LP now owns 730,259 shares of the technology company's stock valued at $45,597,000 after buying an additional 336,298 shares in the last quarter. Vancity Investment Management Ltd raised its stake in shares of BlackLine by 24.1% during the fourth quarter. Vancity Investment Management Ltd now owns 14,631 shares of the technology company's stock worth $914,000 after acquiring an additional 2,837 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of BlackLine by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 6,738,189 shares of the technology company's stock worth $420,733,000 after acquiring an additional 79,649 shares during the last quarter. Quadrature Capital Ltd boosted its stake in shares of BlackLine by 42.9% in the 4th quarter. Quadrature Capital Ltd now owns 7,133 shares of the technology company's stock valued at $445,000 after purchasing an additional 2,140 shares in the last quarter. Finally, Overbrook Management Corp bought a new position in shares of BlackLine during the first quarter valued at about $275,000. 95.13% of the stock is owned by institutional investors.

Insider Buying and Selling at BlackLine

In related news, insider Karole Morgan-Prager sold 5,773 shares of the firm's stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $55.14, for a total value of $318,323.22. Following the transaction, the insider now owns 113,865 shares of the company's stock, valued at approximately $6,278,516.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Karole Morgan-Prager sold 5,773 shares of BlackLine stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $55.14, for a total transaction of $318,323.22. Following the transaction, the insider now directly owns 113,865 shares in the company, valued at approximately $6,278,516.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Barbara Whye sold 5,378 shares of the business's stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $52.01, for a total value of $279,709.78. Following the sale, the director now directly owns 6,777 shares of the company's stock, valued at $352,471.77. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 123,494 shares of company stock valued at $6,697,376. 9.93% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on BL shares. Morgan Stanley upgraded shares of BlackLine from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $60.00 to $70.00 in a report on Monday, September 30th. Robert W. Baird cut their target price on BlackLine from $72.00 to $65.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 7th. JMP Securities reaffirmed a "market outperform" rating and set a $81.00 price target on shares of BlackLine in a research report on Monday, July 15th. Piper Sandler cut their price objective on BlackLine from $55.00 to $51.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 7th. Finally, Citigroup reduced their target price on BlackLine from $62.00 to $54.00 and set a "neutral" rating on the stock in a research note on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $59.90.

BlackLine Stock Down 0.3 %

NASDAQ BL traded down $0.16 during mid-day trading on Monday, reaching $54.35. The stock had a trading volume of 385,976 shares, compared to its average volume of 919,672. The stock has a market cap of $3.36 billion, a PE ratio of 237.00, a price-to-earnings-growth ratio of 12.80 and a beta of 0.90. BlackLine, Inc. has a 1 year low of $43.37 and a 1 year high of $69.31. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.95 and a quick ratio of 1.95. The company has a fifty day moving average price of $50.21 and a 200 day moving average price of $52.57.

BlackLine (NASDAQ:BL - Get Free Report) last issued its earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.08. The business had revenue of $160.51 million during the quarter, compared to analyst estimates of $158.21 million. BlackLine had a return on equity of 33.96% and a net margin of 19.46%. BlackLine's revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.69) EPS. On average, research analysts expect that BlackLine, Inc. will post 0.94 earnings per share for the current year.

BlackLine Company Profile

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.