Segall Bryant & Hamill LLC Makes New $6.26 Million Investment in BlackLine, Inc. (NASDAQ:BL)

Segall Bryant & Hamill LLC purchased a new stake in BlackLine, Inc. (NASDAQ:BL - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 103,038 shares of the technology company's stock, valued at approximately $6,261,000. Segall Bryant & Hamill LLC owned 0.16% of BlackLine at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Advantage Alpha Capital Partners LP boosted its position in shares of BlackLine by 51.7% during the 4th quarter. Advantage Alpha Capital Partners LP now owns 79,440 shares of the technology company's stock valued at $4,827,000 after acquiring an additional 27,081 shares during the last quarter. LPL Financial LLC raised its stake in BlackLine by 88.5% in the fourth quarter. LPL Financial LLC now owns 17,248 shares of the technology company's stock valued at $1,048,000 after purchasing an additional 8,100 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in BlackLine during the fourth quarter valued at approximately $650,000. Hillsdale Investment Management Inc. grew its stake in BlackLine by 0.9% in the 4th quarter. Hillsdale Investment Management Inc. now owns 46,600 shares of the technology company's stock worth $2,831,000 after buying an additional 400 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in shares of BlackLine by 6.2% in the 4th quarter. Sei Investments Co. now owns 147,381 shares of the technology company's stock worth $8,955,000 after buying an additional 8,558 shares during the last quarter. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

BlackLine Trading Down 0.8 %

Shares of NASDAQ BL traded down $0.39 during mid-day trading on Monday, hitting $48.42. The stock had a trading volume of 655,217 shares, compared to its average volume of 799,868. The business has a 50 day moving average price of $53.85 and a two-hundred day moving average price of $56.86. BlackLine, Inc. has a 1 year low of $43.37 and a 1 year high of $69.09. The company has a debt-to-equity ratio of 2.00, a quick ratio of 2.69 and a current ratio of 2.59. The firm has a market cap of $3.04 billion, a P/E ratio of 33.39, a price-to-earnings-growth ratio of 10.80 and a beta of 1.03.

BlackLine (NASDAQ:BL - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.29). BlackLine had a net margin of 24.67% and a return on equity of 21.63%. On average, equities analysts anticipate that BlackLine, Inc. will post 0.9 EPS for the current fiscal year.

Insider Buying and Selling at BlackLine

In other news, CRO Mark Woodhams sold 9,088 shares of BlackLine stock in a transaction dated 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 of the company's stock, valued at approximately $3,249,113.38. The trade was a 12.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 9.93% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Citigroup reduced their target price on BlackLine from $73.00 to $70.00 and set a "buy" rating on the stock in a research note on Wednesday, February 12th. StockNews.com lowered BlackLine from a "buy" rating to a "hold" rating in a research report on Wednesday, February 26th. JMP Securities reissued a "market outperform" rating and set a $86.00 price objective on shares of BlackLine in a report on Wednesday, January 15th. Piper Sandler cut their target price on BlackLine from $60.00 to $58.00 and set an "underweight" rating for the company in a research note on Wednesday, February 12th. Finally, BMO Capital Markets decreased their price target on shares of BlackLine from $68.00 to $60.00 and set a "market perform" rating on the stock in a research note on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, BlackLine currently has an average rating of "Hold" and an average target price of $66.40.

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.