Intech Investment Management LLC Increases Stock Holdings in BlackLine, Inc. (NASDAQ:BL)

Intech Investment Management LLC lifted its stake in shares of BlackLine, Inc. (NASDAQ:BL) by 36.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 20,201 shares of the technology company’s stock after buying an additional 5,360 shares during the quarter. Intech Investment Management LLC’s holdings in BlackLine were worth $1,227,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of BL. SBI Securities Co. Ltd. purchased a new stake in shares of BlackLine during the 4th quarter valued at about $31,000. Global Retirement Partners LLC raised its holdings in shares of BlackLine by 568.4% during the 4th quarter. Global Retirement Partners LLC now owns 528 shares of the technology company’s stock valued at $32,000 after buying an additional 449 shares during the period. GAMMA Investing LLC raised its holdings in shares of BlackLine by 41.2% during the 4th quarter. GAMMA Investing LLC now owns 634 shares of the technology company’s stock valued at $39,000 after buying an additional 185 shares during the period. Asset Management One Co. Ltd. raised its holdings in shares of BlackLine by 19.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 1,266 shares of the technology company’s stock valued at $77,000 after buying an additional 209 shares during the period. Finally, KBC Group NV raised its holdings in shares of BlackLine by 44.0% during the 4th quarter. KBC Group NV now owns 2,180 shares of the technology company’s stock valued at $132,000 after buying an additional 666 shares during the period. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other BlackLine news, CRO Mark Woodhams sold 9,088 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $49.67, for a total transaction of $451,400.96. Following the completion of the transaction, the executive now owns 65,414 shares in the company, valued at approximately $3,249,113.38. The trade was a 12.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 9.93% of the stock is currently owned by insiders.

BlackLine Trading Up 1.0 %

NASDAQ:BL opened at $50.29 on Friday. BlackLine, Inc. has a 12-month low of $43.37 and a 12-month high of $69.09. The firm has a market capitalization of $3.16 billion, a P/E ratio of 34.68, a P/E/G ratio of 10.80 and a beta of 1.03. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.59 and a quick ratio of 2.69. The business has a 50 day simple moving average of $54.93 and a 200 day simple moving average of $56.75.

BlackLine (NASDAQ:BL) last released its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.29). BlackLine had a net margin of 24.67% and a return on equity of 21.63%. Equities research analysts predict that BlackLine, Inc. will post 0.9 EPS for the current year.

Wall Street Analyst Weigh In

BL has been the topic of several analyst reports. Truist Financial dropped their price objective on BlackLine from $60.00 to $55.00 and set a “hold” rating on the stock in a report on Wednesday, February 12th. JMP Securities restated a “market outperform” rating and set a $86.00 price objective on shares of BlackLine in a report on Wednesday, January 15th. BMO Capital Markets dropped their price objective on BlackLine from $68.00 to $60.00 and set a “market perform” rating on the stock in a report on Wednesday, February 12th. Piper Sandler dropped their price objective on BlackLine from $60.00 to $58.00 and set an “underweight” rating on the stock in a report on Wednesday, February 12th. Finally, StockNews.com downgraded BlackLine from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, BlackLine has an average rating of “Hold” and an average price target of $66.40.

BlackLine Company Profile

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.