BlackLine, Inc. (NASDAQ:BL) Shares Bought by FourThought Financial LLC

FourThought Financial LLC grew its position in shares of BlackLine, Inc. (NASDAQ:BL – Get Rating) by 12.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,229 shares of the technology company’s stock after purchasing an additional 925 shares during the period. FourThought Financial LLC’s holdings in BlackLine were worth $493,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. First Growth Investment Manager LP boosted its stake in shares of BlackLine by 0.7% during the 3rd quarter. First Growth Investment Manager LP now owns 70,096 shares of the technology company’s stock worth $4,199,000 after purchasing an additional 500 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in shares of BlackLine by 1.7% during the 3rd quarter. Macquarie Group Ltd. now owns 652,437 shares of the technology company’s stock worth $39,127,000 after acquiring an additional 10,646 shares during the period. Versor Investments LP purchased a new position in shares of BlackLine during the 3rd quarter worth about $946,000. Bessemer Group Inc. lifted its holdings in shares of BlackLine by 44.7% during the 3rd quarter. Bessemer Group Inc. now owns 101,507 shares of the technology company’s stock worth $6,081,000 after acquiring an additional 31,365 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in shares of BlackLine by 23.3% during the 3rd quarter. California Public Employees Retirement System now owns 129,359 shares of the technology company’s stock worth $7,749,000 after acquiring an additional 24,459 shares during the period. 99.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BL. Robert W. Baird increased their price objective on shares of BlackLine from $72.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, February 15th. BMO Capital Markets cut their price target on shares of BlackLine from $76.00 to $71.00 and set a “market perform” rating on the stock in a report on Wednesday, February 15th. Citigroup raised their price target on shares of BlackLine from $63.00 to $65.00 and gave the company a “sell” rating in a report on Wednesday, February 15th. Truist Financial raised their price target on shares of BlackLine from $55.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, February 15th. Finally, StockNews.com initiated coverage on shares of BlackLine in a report on Thursday. They issued a “hold” rating on the stock. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $70.67.

BlackLine Stock Up 3.4 %

Shares of NASDAQ:BL opened at $66.15 on Friday. The company has a quick ratio of 3.40, a current ratio of 3.40 and a debt-to-equity ratio of 12.38. BlackLine, Inc. has a 52-week low of $48.73 and a 52-week high of $79.23. The company has a 50 day moving average of $70.08 and a two-hundred day moving average of $65.60. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of -129.71 and a beta of 0.91.

BlackLine (NASDAQ:BL – Get Rating) last issued its quarterly earnings data on Tuesday, February 14th. The technology company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.22. BlackLine had a negative net margin of 5.62% and a negative return on equity of 35.01%. The company had revenue of $139.96 million during the quarter, compared to the consensus estimate of $139.17 million. As a group, analysts forecast that BlackLine, Inc. will post -0.2 earnings per share for the current fiscal year.

Insider Buying and Selling at BlackLine

In other news, Director Thomas Unterman sold 448 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $68.31, for a total transaction of $30,602.88. Following the completion of the sale, the director now owns 52,583 shares of the company’s stock, valued at $3,591,944.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Thomas Unterman sold 448 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $68.31, for a total transaction of $30,602.88. Following the completion of the sale, the director now owns 52,583 shares of the company’s stock, valued at $3,591,944.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc Huffman sold 19,650 shares of the firm’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $70.85, for a total transaction of $1,392,202.50. Following the sale, the chief executive officer now directly owns 304,516 shares of the company’s stock, valued at approximately $21,574,958.60. The disclosure for this sale can be found here. Insiders sold 61,275 shares of company stock valued at $4,317,716 over the last 90 days. 9.71% of the stock is owned by corporate insiders.

About BlackLine

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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.