41,466 Shares in BlackLine, Inc. (NASDAQ:BL) Acquired by SG Americas Securities LLC

SG Americas Securities LLC acquired a new stake in BlackLine, Inc. (NASDAQ:BL - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 41,466 shares of the technology company's stock, valued at approximately $2,286,000. SG Americas Securities LLC owned 0.07% of BlackLine at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BL. Fifth Third Bancorp raised its holdings in shares of BlackLine by 13.0% during the second quarter. Fifth Third Bancorp now owns 2,306 shares of the technology company's stock valued at $112,000 after purchasing an additional 266 shares during the period. Arizona State Retirement System boosted its holdings in BlackLine by 2.3% in the second quarter. Arizona State Retirement System now owns 14,638 shares of the technology company's stock worth $709,000 after acquiring an additional 325 shares in the last quarter. Covestor Ltd grew its stake in BlackLine by 29.4% in the first quarter. Covestor Ltd now owns 1,495 shares of the technology company's stock valued at $97,000 after acquiring an additional 340 shares during the period. Whittier Trust Co. increased its holdings in shares of BlackLine by 9.7% during the first quarter. Whittier Trust Co. now owns 4,699 shares of the technology company's stock valued at $303,000 after acquiring an additional 414 shares in the last quarter. Finally, YHB Investment Advisors Inc. acquired a new position in shares of BlackLine during the first quarter worth approximately $33,000. 95.13% of the stock is owned by institutional investors and hedge funds.

BlackLine Price Performance

NASDAQ BL traded up $0.20 during trading on Tuesday, reaching $54.55. The company's stock had a trading volume of 516,827 shares, compared to its average volume of 917,596. The firm has a fifty day moving average of $50.35 and a 200 day moving average of $52.50. BlackLine, Inc. has a one year low of $43.37 and a one year high of $69.31. The stock has a market capitalization of $3.37 billion, a PE ratio of 236.87, a P/E/G ratio of 12.80 and a beta of 0.90. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.95 and a quick ratio of 1.95.

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

Insider Buying and Selling

In other BlackLine news, insider Karole Morgan-Prager sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $50.00, for a total value of $500,000.00. Following the completion of the sale, the insider now owns 115,424 shares in the company, valued at approximately $5,771,200. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other BlackLine news, CFO Mark Partin sold 85,308 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $54.84, for a total value of $4,678,290.72. Following the completion of the sale, the chief financial officer now owns 226,844 shares in the company, valued at approximately $12,440,124.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Karole Morgan-Prager sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $50.00, for a total value of $500,000.00. Following the transaction, the insider now directly owns 115,424 shares in the company, valued at $5,771,200. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 123,494 shares of company stock worth $6,697,376 in the last 90 days. 9.93% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Morgan Stanley raised shares of BlackLine from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $60.00 to $70.00 in a research report on Monday, September 30th. Robert W. Baird lowered their price objective on BlackLine from $72.00 to $65.00 and set an "outperform" rating for the company in a research note on Wednesday, August 7th. Truist Financial cut their target price on BlackLine from $60.00 to $45.00 and set a "hold" rating on the stock in a research report on Wednesday, August 7th. JMP Securities reissued a "market outperform" rating and issued a $81.00 price target on shares of BlackLine in a research report on Monday, July 15th. Finally, BTIG Research dropped their price objective on BlackLine from $71.00 to $65.00 and set a "buy" 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 assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $59.90.

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.