Segall Bryant & Hamill LLC Acquires New Position in BlackLine, Inc. (NASDAQ:BL)

Segall Bryant & Hamill LLC bought a new position in shares of BlackLine, Inc. (NASDAQ:BL) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 103,038 shares of the technology company’s stock, valued at approximately $6,261,000. Segall Bryant & Hamill LLC owned about 0.16% of BlackLine at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in shares of BlackLine in the 4th quarter valued at approximately $31,000. Global Retirement Partners LLC lifted its stake in BlackLine by 568.4% in the 4th quarter. Global Retirement Partners LLC now owns 528 shares of the technology company’s stock valued at $32,000 after purchasing an additional 449 shares during the last quarter. GAMMA Investing LLC boosted its position in BlackLine by 41.2% in the fourth quarter. GAMMA Investing LLC now owns 634 shares of the technology company’s stock valued at $39,000 after buying an additional 185 shares in the last quarter. Asset Management One Co. Ltd. grew its stake in shares of BlackLine by 19.8% during the fourth quarter. Asset Management One Co. Ltd. now owns 1,266 shares of the technology company’s stock worth $77,000 after buying an additional 209 shares during the last quarter. Finally, KBC Group NV increased its holdings in shares of BlackLine by 44.0% during the fourth quarter. KBC Group NV now owns 2,180 shares of the technology company’s stock worth $132,000 after buying an additional 666 shares in the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Analyst Ratings Changes

BL has been the topic of several recent research reports. StockNews.com downgraded BlackLine from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th. JMP Securities restated a “market outperform” rating and set a $86.00 price target on shares of BlackLine in a report on Wednesday, January 15th. Piper Sandler dropped their price objective on shares of BlackLine from $60.00 to $58.00 and set an “underweight” rating for the company in a report on Wednesday, February 12th. BMO Capital Markets reduced their target price on shares of BlackLine from $68.00 to $60.00 and set a “market perform” rating on the stock in a report on Wednesday, February 12th. Finally, Citigroup dropped their price target on shares of BlackLine from $73.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, BlackLine currently has a consensus rating of “Hold” and an average target price of $66.40.

BlackLine Stock Performance

Shares of BL opened at $50.52 on Thursday. The firm’s fifty day simple moving average is $54.49 and its two-hundred day simple moving average is $56.79. BlackLine, Inc. has a 12 month low of $43.37 and a 12 month high of $69.09. The company has a current ratio of 2.59, a quick ratio of 2.69 and a debt-to-equity ratio of 2.00. The stock has a market capitalization of $3.17 billion, a P/E ratio of 34.84, a price-to-earnings-growth ratio of 10.80 and a beta of 1.03.

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

Insider Activity

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

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.