Edgestream Partners L.P. grew its holdings in shares of BlackLine, Inc. (NASDAQ:BL – Free Report) by 93.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 42,733 shares of the technology company’s stock after acquiring an additional 20,683 shares during the quarter. Edgestream Partners L.P. owned about 0.07% of BlackLine worth $2,300,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in BlackLine by 1.2% during the third quarter. Vanguard Group Inc. now owns 5,222,019 shares of the technology company’s stock worth $312,798,000 after acquiring an additional 62,961 shares during the period. Riverbridge Partners LLC grew its stake in shares of BlackLine by 2.9% in the 2nd quarter. Riverbridge Partners LLC now owns 2,107,046 shares of the technology company’s stock worth $113,401,000 after purchasing an additional 58,688 shares during the last quarter. Brown Advisory Inc. raised its holdings in shares of BlackLine by 5.4% in the 2nd quarter. Brown Advisory Inc. now owns 1,857,021 shares of the technology company’s stock worth $99,945,000 after purchasing an additional 95,099 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in BlackLine by 40.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,296,306 shares of the technology company’s stock valued at $87,203,000 after purchasing an additional 374,813 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in BlackLine by 4.6% during the first quarter. Geode Capital Management LLC now owns 1,069,166 shares of the technology company’s stock worth $71,795,000 after buying an additional 47,067 shares in the last quarter. Institutional investors own 95.13% of the company’s stock.
Analyst Ratings Changes
BL has been the subject of a number of recent analyst reports. JMP Securities decreased their price target on BlackLine from $87.00 to $81.00 and set a “market outperform” rating for the company in a research report on Wednesday, August 9th. Piper Sandler restated a “neutral” rating and set a $53.00 price target on shares of BlackLine in a report on Friday, November 3rd. Citigroup lifted their price objective on shares of BlackLine from $57.00 to $59.00 and gave the stock a “neutral” rating in a research report on Monday, September 18th. StockNews.com assumed coverage on BlackLine in a report on Thursday, October 5th. They issued a “hold” rating for the company. Finally, Morgan Stanley started coverage on BlackLine in a report on Monday, September 18th. They set an “equal weight” rating on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $61.44.
BlackLine Trading Up 0.6 %
NASDAQ:BL opened at $56.40 on Friday. The company’s 50 day moving average is $53.71 and its 200-day moving average is $53.90. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 5.28. BlackLine, Inc. has a 12 month low of $47.26 and a 12 month high of $77.90. The firm has a market cap of $3.46 billion, a price-to-earnings ratio of -235.00, a P/E/G ratio of 1.60 and a beta of 0.83.
Insider Transactions at BlackLine
In other BlackLine news, Director Thomas Unterman sold 750 shares of BlackLine stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $60.00, for a total value of $45,000.00. Following the transaction, the director now directly owns 54,470 shares of the company’s stock, valued at approximately $3,268,200. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other BlackLine news, CRO Mark Woodhams sold 558 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $52.00, for a total value of $29,016.00. Following the completion of the transaction, the executive now owns 94,083 shares of the company’s stock, valued at approximately $4,892,316. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Thomas Unterman sold 750 shares of BlackLine stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $60.00, for a total value of $45,000.00. Following the sale, the director now directly owns 54,470 shares in the company, valued at approximately $3,268,200. The disclosure for this sale can be found here. 9.93% of the stock is currently owned by corporate insiders.
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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