Senvest Management LLC Makes New Investment in BlackLine, Inc. (NASDAQ:BL)

Senvest Management LLC bought a new stake in shares of BlackLine, Inc. (NASDAQ:BL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 27,400 shares of the technology company's stock, valued at approximately $1,665,000.

A number of other large investors also recently added to or reduced their stakes in BL. Principal Financial Group Inc. raised its holdings in BlackLine by 13.6% during the 3rd quarter. Principal Financial Group Inc. now owns 290,775 shares of the technology company's stock valued at $16,033,000 after buying an additional 34,919 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of BlackLine by 35.3% in the third quarter. JPMorgan Chase & Co. now owns 1,666,591 shares of the technology company's stock worth $91,896,000 after purchasing an additional 435,271 shares during the last quarter. Conestoga Capital Advisors LLC grew its stake in shares of BlackLine by 20.2% in the fourth quarter. Conestoga Capital Advisors LLC now owns 2,113,882 shares of the technology company's stock worth $128,439,000 after purchasing an additional 354,784 shares during the last quarter. Pacer Advisors Inc. raised its position in BlackLine by 154.1% during the 4th quarter. Pacer Advisors Inc. now owns 4,159 shares of the technology company's stock valued at $253,000 after purchasing an additional 2,522 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in 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 period. Hedge funds and other institutional investors own 95.13% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Piper Sandler decreased their target price on BlackLine from $60.00 to $58.00 and set an "underweight" rating for the company in a report on Wednesday, February 12th. Morgan Stanley dropped their target price on shares of BlackLine from $80.00 to $65.00 and set an "overweight" rating for the company in a research report on Wednesday. The Goldman Sachs Group reduced their price target on shares of BlackLine from $51.00 to $43.00 and set a "sell" rating on the stock in a research 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 reduced their target price on BlackLine from $55.00 to $40.00 and set a "hold" rating on the stock in a report on Monday, April 7th. Three investment 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. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $61.00.

BlackLine Stock Down 0.4 %

NASDAQ BL traded down $0.18 during mid-day trading on Friday, reaching $44.44. The stock had a trading volume of 412,256 shares, compared to its average volume of 806,481. The company has a fifty day moving average price of $48.13 and a 200 day moving average price of $56.04. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.59 and a quick ratio of 2.69. BlackLine, Inc. has a 1 year low of $40.82 and a 1 year high of $66.25. The stock has a market cap of $2.80 billion, a PE ratio of 30.65, a price-to-earnings-growth ratio of 10.80 and a beta of 0.97.

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

Insider Buying and Selling at BlackLine

In other news, CRO Mark Woodhams sold 9,088 shares of the company's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $49.67, for a total value of $451,400.96. Following the completion of the sale, the executive now directly owns 65,414 shares in the company, valued at $3,249,113.38. This represents a 12.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 8.60% of the stock is owned by corporate insiders.

BlackLine Company 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.