Teacher Retirement System of Texas Grows Stock Position in BlackLine, Inc. (NASDAQ:BL)

Teacher Retirement System of Texas boosted its position in shares of BlackLine, Inc. (NASDAQ:BL - Free Report) by 87.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 11,740 shares of the technology company's stock after acquiring an additional 5,467 shares during the quarter. Teacher Retirement System of Texas' holdings in BlackLine were worth $713,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in BL. Charles Schwab Investment Management Inc. increased its stake in shares of BlackLine by 4.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 495,222 shares of the technology company's stock worth $27,307,000 after acquiring an additional 20,027 shares during the period. FMR LLC boosted its holdings in BlackLine by 1.3% in the third quarter. FMR LLC now owns 5,153,275 shares of the technology company's stock valued at $284,152,000 after purchasing an additional 64,435 shares during the last quarter. Glenmede Trust Co. NA grew its position in BlackLine by 21.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 17,801 shares of the technology company's stock worth $982,000 after purchasing an additional 3,151 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of BlackLine by 0.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 119,072 shares of the technology company's stock valued at $6,566,000 after buying an additional 753 shares during the last quarter. Finally, Atom Investors LP acquired a new position in shares of BlackLine in the 3rd quarter valued at about $285,000. Hedge funds and other institutional investors own 95.13% of the company's stock.

Insider Buying and Selling at BlackLine

In other news, CRO Mark Woodhams sold 9,088 shares of BlackLine stock in a transaction on Friday, February 21st. The stock was sold at an average price of $49.67, for a total transaction of $451,400.96. Following the transaction, the executive now owns 65,414 shares in the company, valued at $3,249,113.38. The trade was a 12.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.93% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on BL shares. JMP Securities reaffirmed a "market outperform" rating and set a $86.00 target price on shares of BlackLine in a report on Wednesday, January 15th. Bank of America raised shares of BlackLine from an "underperform" rating to a "buy" rating and lifted their target price for the company from $50.00 to $75.00 in a report on Thursday, January 30th. Citigroup lowered their price target on shares of BlackLine from $73.00 to $70.00 and set a "buy" rating on the stock in a report on Wednesday, February 12th. StockNews.com cut shares of BlackLine from a "buy" rating to a "hold" rating in a report on Wednesday, February 26th. Finally, BMO Capital Markets lowered their target price 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 investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, BlackLine currently has an average rating of "Hold" and an average price target of $65.64.

BlackLine Price Performance

Shares of NASDAQ:BL traded down $3.36 during trading on Thursday, reaching $46.08. The stock had a trading volume of 936,851 shares, compared to its average volume of 797,168. The company has a debt-to-equity ratio of 2.00, a quick ratio of 2.69 and a current ratio of 2.59. BlackLine, Inc. has a 1-year low of $43.37 and a 1-year high of $69.09. The stock has a market cap of $2.91 billion, a PE ratio of 31.78, a PEG ratio of 10.80 and a beta of 0.97. The business has a fifty day moving average price of $53.12 and a 200-day moving average price of $56.73.

BlackLine (NASDAQ:BL - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.21 earnings per share 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 forecast that BlackLine, Inc. will post 0.9 earnings per share for the current fiscal year.

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.