BlackLine, Inc. (NASDAQ:BL) Stock Holdings Increased by Swiss National Bank

Swiss National Bank increased its holdings in BlackLine, Inc. (NASDAQ:BLGet Rating) by 6.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,600 shares of the technology company’s stock after purchasing an additional 7,800 shares during the quarter. Swiss National Bank owned 0.22% of BlackLine worth $8,831,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. San Luis Wealth Advisors LLC acquired a new stake in shares of BlackLine during the first quarter valued at approximately $25,000. Quadrant Capital Group LLC grew its position in BlackLine by 3,036.4% during the first quarter. Quadrant Capital Group LLC now owns 345 shares of the technology company’s stock valued at $25,000 after purchasing an additional 334 shares in the last quarter. Ellevest Inc. grew its position in BlackLine by 458.5% in the second quarter. Ellevest Inc. now owns 754 shares of the technology company’s stock worth $50,000 after acquiring an additional 619 shares in the last quarter. Benjamin Edwards Inc. grew its position in BlackLine by 9,762.5% in the first quarter. Benjamin Edwards Inc. now owns 789 shares of the technology company’s stock worth $58,000 after acquiring an additional 781 shares in the last quarter. Finally, Castle Wealth Management LLC bought a new stake in BlackLine in the second quarter worth approximately $72,000.

BlackLine Stock Performance

Shares of NASDAQ:BL opened at $60.48 on Tuesday. The company has a market capitalization of $3.62 billion, a price-to-earnings ratio of -45.82 and a beta of 0.76. The firm’s 50 day simple moving average is $60.14 and its 200 day simple moving average is $65.37. The company has a debt-to-equity ratio of 17.76, a current ratio of 3.74 and a quick ratio of 3.74. BlackLine, Inc. has a fifty-two week low of $48.73 and a fifty-two week high of $119.99.

BlackLine (NASDAQ:BLGet Rating) last announced its quarterly earnings results on Thursday, November 3rd. The technology company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.12. The business had revenue of $134.27 million for the quarter, compared to the consensus estimate of $133.73 million. BlackLine had a negative net margin of 15.59% and a negative return on equity of 35.49%. As a group, sell-side analysts forecast that BlackLine, Inc. will post -0.62 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on BL shares. Berenberg Bank cut shares of BlackLine from a “buy” rating to a “hold” rating and set a $60.00 price objective for the company. in a research note on Wednesday, October 19th. StockNews.com upgraded shares of BlackLine from a “sell” rating to a “hold” rating in a research note on Friday, November 4th. Piper Sandler lowered their target price on shares of BlackLine from $85.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, October 20th. Credit Suisse Group initiated coverage on shares of BlackLine in a report on Friday, September 23rd. They set a “neutral” rating and a $75.00 price objective on the stock. Finally, The Goldman Sachs Group decreased their price objective on shares of BlackLine from $57.00 to $50.00 and set a “sell” rating on the stock in a report on Friday, November 4th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four 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 price target of $71.25.

Insider Activity at BlackLine

In related news, CRO Mark Woodhams sold 3,941 shares of the stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $57.82, for a total value of $227,868.62. Following the sale, the executive now directly owns 54,288 shares in the company, valued at approximately $3,138,932.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other BlackLine news, CRO Mark Woodhams sold 3,941 shares of the firm’s stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $57.82, for a total transaction of $227,868.62. Following the sale, the executive now directly owns 54,288 shares in the company, valued at approximately $3,138,932.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Peter Hirsch sold 1,997 shares of the firm’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $59.75, for a total transaction of $119,320.75. Following the sale, the chief technology officer now owns 30,463 shares in the company, valued at $1,820,164.25. The disclosure for this sale can be found here. Insiders have sold 7,453 shares of company stock worth $436,861 in the last ninety days. Company insiders own 9.71% of the company’s stock.

About BlackLine

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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 high volumes of individual transactions; and task management to create and manage processes and task lists.

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Institutional Ownership by Quarter for BlackLine (NASDAQ:BL)

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