101,439 Shares in BlackLine, Inc. (NASDAQ:BL) Acquired by WINTON GROUP Ltd

WINTON GROUP Ltd bought a new position in shares of BlackLine, Inc. (NASDAQ:BL - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 101,439 shares of the technology company's stock, valued at approximately $6,163,000. WINTON GROUP Ltd owned 0.16% of BlackLine at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in BL. Thrivent Financial for Lutherans grew its stake in BlackLine by 4.8% during the third quarter. Thrivent Financial for Lutherans now owns 44,639 shares of the technology company's stock worth $2,462,000 after purchasing an additional 2,046 shares during the period. Intech Investment Management LLC acquired a new stake in shares of BlackLine during the 3rd quarter worth approximately $818,000. Charles Schwab Investment Management Inc. increased its stake in shares of BlackLine by 4.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 495,222 shares of the technology company's stock valued at $27,307,000 after acquiring an additional 20,027 shares in the last quarter. FMR LLC increased its stake in shares of BlackLine by 1.3% in the 3rd quarter. FMR LLC now owns 5,153,275 shares of the technology company's stock valued at $284,152,000 after acquiring an additional 64,435 shares in the last quarter. Finally, Hardy Reed LLC acquired a new position in shares of BlackLine during the 3rd quarter valued at $244,000. Institutional investors own 95.13% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on BL. Piper Sandler reduced their price target on shares of BlackLine from $60.00 to $58.00 and set an "underweight" rating for the company in a report on Wednesday, February 12th. StockNews.com lowered BlackLine from a "buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Citigroup cut their price target on BlackLine from $73.00 to $70.00 and set a "buy" rating on the stock in a report on Wednesday, February 12th. Bank of America upgraded BlackLine from an "underperform" rating to a "buy" rating and boosted their price objective for the company from $50.00 to $75.00 in a report on Thursday, January 30th. Finally, JMP Securities reissued a "market outperform" rating and issued a $86.00 price target on shares of BlackLine in a research report on Wednesday, January 15th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $66.40.

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BlackLine Stock Down 1.3 %

BL stock traded down $0.65 during trading on Monday, reaching $48.16. The stock had a trading volume of 105,757 shares, compared to its average volume of 797,706. The company has a quick ratio of 2.69, a current ratio of 2.59 and a debt-to-equity ratio of 2.00. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of 33.22, a P/E/G ratio of 10.80 and a beta of 1.03. BlackLine, Inc. has a one year low of $43.37 and a one year high of $69.09. The company's 50 day moving average is $54.08 and its two-hundred day moving average is $56.87.

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

Insider Transactions at BlackLine

In related news, CRO Mark Woodhams sold 9,088 shares of the company's stock in a transaction that occurred 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 transaction, the executive now owns 65,414 shares in the company, valued at approximately $3,249,113.38. This represents a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.93% of the company's stock.

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.