Assenagon Asset Management S.A. Purchases 217,751 Shares of BlackLine, Inc. (NASDAQ:BL)

Assenagon Asset Management S.A. raised its holdings in BlackLine, Inc. (NASDAQ:BL - Free Report) by 3,027.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 224,944 shares of the technology company's stock after buying an additional 217,751 shares during the quarter. Assenagon Asset Management S.A. owned 0.36% of BlackLine worth $12,403,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in BL. State of Alaska Department of Revenue bought a new position in BlackLine during the first quarter worth about $2,000,000. Norden Group LLC lifted its holdings in shares of BlackLine by 2,200.0% during the first quarter. Norden Group LLC now owns 116,909 shares of the technology company's stock valued at $7,550,000 after acquiring an additional 111,826 shares during the period. Maryland State Retirement & Pension System acquired a new stake in shares of BlackLine in the 1st quarter valued at $1,086,000. Diversify Advisory Services LLC bought a new stake in shares of BlackLine in the 1st quarter worth about $371,000. Finally, Janney Montgomery Scott LLC increased its position in shares of BlackLine by 7.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 21,119 shares of the technology company's stock worth $1,364,000 after purchasing an additional 1,491 shares in the last quarter. 95.13% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other BlackLine news, insider Karole Morgan-Prager sold 10,000 shares of BlackLine stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $50.00, for a total value of $500,000.00. Following the sale, the insider now owns 115,424 shares of the company's stock, valued at $5,771,200. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Karole Morgan-Prager sold 10,000 shares of BlackLine 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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Mark Woodhams sold 1,387 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $51.70, for a total transaction of $71,707.90. Following the transaction, the executive now owns 97,582 shares of the company's stock, valued at $5,044,989.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 150,873 shares of company stock worth $8,340,243. Company insiders own 9.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BL shares. Truist Financial cut their price objective on BlackLine from $60.00 to $45.00 and set a "hold" rating for the company in a research report on Wednesday, August 7th. Robert W. Baird lowered their price objective on shares of BlackLine from $72.00 to $65.00 and set an "outperform" rating for the company in a research report on Wednesday, August 7th. BTIG Research reduced their target price on shares of BlackLine from $71.00 to $65.00 and set a "buy" rating on the stock in a research report on Wednesday, August 7th. Morgan Stanley raised shares of BlackLine from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $60.00 to $70.00 in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. upped their price objective on BlackLine from $47.00 to $50.00 and gave the stock an "underweight" rating in a report on Friday. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, BlackLine currently has a consensus rating of "Hold" and a consensus target price of $60.20.

BlackLine Trading Up 0.8 %

BlackLine stock traded up $0.47 during midday trading on Monday, hitting $57.04. 822,307 shares of the stock were exchanged, compared to its average volume of 895,587. The company has a fifty day simple moving average of $52.57 and a two-hundred day simple moving average of $51.81. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 2.74. The stock has a market capitalization of $3.53 billion, a PE ratio of 248.78, a P/E/G ratio of 13.57 and a beta of 0.90. BlackLine, Inc. has a 52 week low of $43.37 and a 52 week high of $69.31.

BlackLine (NASDAQ:BL - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.58 EPS for the quarter, beating 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 business had revenue of $160.51 million during the quarter, compared to analysts' expectations of $158.21 million. During the same quarter in the prior year, the company earned ($0.69) EPS. The firm's quarterly revenue was up 11.0% on a year-over-year basis. Equities research analysts anticipate that BlackLine, Inc. will post 0.96 EPS for the current fiscal year.

BlackLine 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.