Mackenzie Financial Corp Makes New $214,000 Investment in BlackLine, Inc. (NASDAQ:BL)

Mackenzie Financial Corp acquired a new stake in BlackLine, Inc. (NASDAQ:BL) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,431 shares of the technology company’s stock, valued at approximately $214,000.

Several other institutional investors have also recently modified their holdings of BL. Vanguard Group Inc. raised its holdings in shares of BlackLine by 6.1% during the third quarter. Vanguard Group Inc. now owns 6,658,540 shares of the technology company’s stock worth $369,349,000 after purchasing an additional 380,614 shares during the last quarter. Conestoga Capital Advisors LLC raised its stake in shares of BlackLine by 3.5% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,414,835 shares of the technology company’s stock valued at $88,342,000 after buying an additional 47,420 shares during the last quarter. Meritage Group LP acquired a new position in shares of BlackLine in the 3rd quarter valued at about $59,530,000. Northern Trust Corp boosted its stake in shares of BlackLine by 16.7% in the third quarter. Northern Trust Corp now owns 787,289 shares of the technology company’s stock worth $43,671,000 after buying an additional 112,684 shares during the last quarter. Finally, UBS Group AG grew its holdings in BlackLine by 855.5% during the third quarter. UBS Group AG now owns 657,004 shares of the technology company’s stock worth $36,444,000 after acquiring an additional 588,245 shares during the period. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

BlackLine Trading Down 0.9 %

BL stock opened at $60.28 on Tuesday. The business’s 50-day moving average is $62.16 and its 200 day moving average is $59.41. BlackLine, Inc. has a 12-month low of $47.26 and a 12-month high of $69.31. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of -602.80, a PEG ratio of 10.81 and a beta of 0.86. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 4.37.

BlackLine (NASDAQ:BL) last issued its quarterly earnings results on Tuesday, February 13th. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.26 by $0.28. BlackLine had a positive return on equity of 2.15% and a negative net margin of 1.50%. The firm had revenue of $155.73 million during the quarter, compared to analysts’ expectations of $154.24 million. On average, sell-side analysts anticipate that BlackLine, Inc. will post 1.02 EPS for the current fiscal year.

Insider Activity

In other BlackLine news, Director Thomas Unterman sold 750 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $60.00, for a total value of $45,000.00. Following the transaction, the director now directly owns 51,470 shares of the company’s stock, valued at approximately $3,088,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other BlackLine news, Director Thomas Unterman sold 750 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $60.00, for a total value of $45,000.00. Following the completion of the sale, the director now directly owns 51,470 shares in the company, valued at approximately $3,088,200. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kevin B. Thompson sold 4,500 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $57.50, for a total value of $258,750.00. Following the completion of the sale, the director now directly owns 11,000 shares of the company’s stock, valued at $632,500. The disclosure for this sale can be found here. Company insiders own 9.93% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on BL. Robert W. Baird decreased their price target on BlackLine from $65.00 to $61.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. William Blair lowered shares of BlackLine from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 14th. JMP Securities reiterated a “market outperform” rating and issued a $81.00 price objective on shares of BlackLine in a research report on Wednesday, February 14th. JPMorgan Chase & Co. lowered their target price on shares of BlackLine from $55.00 to $52.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 14th. Finally, The Goldman Sachs Group upped their price target on BlackLine from $49.00 to $54.00 and gave the stock a “sell” rating in a report on Tuesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $62.20.

About BlackLine

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.