BlackLine, Inc. (NASDAQ:BL) Shares Bought by Schwartz Investment Counsel Inc.

Schwartz Investment Counsel Inc. increased its position in shares of BlackLine, Inc. (NASDAQ:BL - Free Report) by 17.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 480,000 shares of the technology company's stock after purchasing an additional 70,000 shares during the period. Schwartz Investment Counsel Inc. owned 0.77% of BlackLine worth $29,165,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Louisiana State Employees Retirement System increased its position in shares of 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. Stratos Wealth Partners LTD. acquired a new stake in shares of BlackLine during the fourth quarter valued at about $263,000. Conestoga Capital Advisors LLC increased its position in shares of BlackLine by 20.2% during the fourth quarter. Conestoga Capital Advisors LLC now owns 2,113,882 shares of the technology company's stock valued at $128,439,000 after acquiring an additional 354,784 shares during the last quarter. Rheos Capital Works Inc. acquired a new stake in shares of BlackLine during the fourth quarter valued at about $6,076,000. Finally, Gagnon Securities LLC increased its position in shares of BlackLine by 6.6% during the fourth quarter. Gagnon Securities LLC now owns 197,278 shares of the technology company's stock valued at $11,987,000 after acquiring an additional 12,292 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors and hedge funds.

BlackLine Stock Down 1.7 %

Shares of NASDAQ:BL traded down $0.89 during trading on Friday, hitting $51.37. 913,448 shares of the company were exchanged, compared to its average volume of 516,899. The stock has a market capitalization of $3.21 billion, a P/E ratio of 52.42, a PEG ratio of 9.14 and a beta of 0.92. The company has a debt-to-equity ratio of 2.42, a current ratio of 2.69 and a quick ratio of 2.69. BlackLine, Inc. has a 12-month low of $43.37 and a 12-month high of $69.31. The firm's 50 day moving average price is $61.15 and its 200-day moving average price is $56.77.

BlackLine (NASDAQ:BL - Get Free Report) last issued 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 return on equity of 31.02% and a net margin of 19.83%. On average, research analysts predict that BlackLine, Inc. will post 1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BL. Piper Sandler dropped their price objective on shares of BlackLine from $60.00 to $58.00 and set an "underweight" rating for the company in a report on Wednesday. Bank of America upgraded shares of BlackLine from an "underperform" rating to a "buy" rating and lifted their price objective for the company from $50.00 to $75.00 in a report on Thursday, January 30th. StockNews.com upgraded shares of BlackLine from a "hold" rating to a "buy" rating in a report on Thursday. JMP Securities restated a "market outperform" rating and issued a $86.00 price objective on shares of BlackLine in a report on Wednesday, January 15th. Finally, Truist Financial dropped their price objective on shares of BlackLine from $60.00 to $55.00 and set a "hold" rating for the company in a report on Wednesday. Two research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $66.40.

Insider Activity

In other BlackLine news, CRO Mark Woodhams sold 24,408 shares of the business's stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $64.32, for a total value of $1,569,922.56. Following the transaction, the executive now directly owns 72,920 shares of the company's stock, valued at approximately $4,690,214.40. The trade was a 25.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 9.93% of the company's stock.

About BlackLine

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.