Y Intercept Hong Kong Ltd Acquires New Holdings in BlackLine, Inc. (NASDAQ:BL)

Y Intercept Hong Kong Ltd bought a new position in shares of BlackLine, Inc. (NASDAQ:BL - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,929 shares of the technology company's stock, valued at approximately $713,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP purchased a new position in BlackLine in the second quarter valued at about $32,000. 1620 Investment Advisors Inc. purchased a new position in shares of BlackLine during the 2nd quarter valued at approximately $64,000. Covestor Ltd grew its position in shares of BlackLine by 31.9% during the third quarter. Covestor Ltd now owns 1,392 shares of the technology company's stock worth $77,000 after buying an additional 337 shares in the last quarter. Fifth Third Bancorp grew its position in shares of BlackLine by 13.0% during the second quarter. Fifth Third Bancorp now owns 2,306 shares of the technology company's stock worth $112,000 after buying an additional 266 shares in the last quarter. Finally, nVerses Capital LLC bought a new stake in shares of BlackLine in the second quarter worth $145,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other BlackLine news, CFO Mark Partin sold 5,648 shares of the business's stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $53.00, for a total transaction of $299,344.00. Following the sale, the chief financial officer now owns 226,844 shares in the company, valued at approximately $12,022,732. The trade was a 2.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Karole Morgan-Prager sold 10,000 shares of the firm's stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $55.00, for a total transaction of $550,000.00. Following the completion of the transaction, the insider now owns 113,865 shares of the company's stock, valued at approximately $6,262,575. The trade was a 8.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 134,108 shares of company stock worth $7,488,826. Corporate insiders own 9.93% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. JMP Securities lifted their price target on BlackLine from $81.00 to $86.00 and gave the stock a "market outperform" rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. boosted their price target on BlackLine from $47.00 to $50.00 and gave the company an "underweight" rating in a report on Friday, October 25th. Morgan Stanley upped their price target on BlackLine from $70.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Piper Sandler reaffirmed a "neutral" rating and issued a $60.00 price objective on shares of BlackLine in a report on Wednesday, November 20th. Finally, Truist Financial increased their target price on shares of BlackLine from $55.00 to $60.00 and gave the stock a "hold" rating in a report on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $64.10.

BlackLine Price Performance

BL traded down $0.94 during trading on Friday, reaching $63.86. The stock had a trading volume of 465,511 shares, compared to its average volume of 860,683. The stock has a 50 day moving average of $59.48 and a two-hundred day moving average of $52.52. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 2.42. The firm has a market capitalization of $3.99 billion, a price-to-earnings ratio of 65.16, a price-to-earnings-growth ratio of 15.18 and a beta of 0.90. BlackLine, Inc. has a 1-year low of $43.37 and a 1-year high of $69.31.

BlackLine Company Profile

BlackLine, Inc provides cloud-based solutions to automate and streamline accounting and finance operations worldwide. It offers financial close management solutions, such as account reconciliations that provides a centralized workspace for users to collaborate on account reconciliations; transaction matching that analyzes and reconciles individual transactions; task management to create and manage processes and task lists; and financial reporting analytics that enables analysis and validation of financial data.