BlackLine, Inc. (NASDAQ:BL) Shares Bought by Ceera Investments LLC

Ceera Investments LLC boosted its stake in shares of BlackLine, Inc. (NASDAQ:BL) by 160.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 18,414 shares of the technology company’s stock after purchasing an additional 11,345 shares during the quarter. Ceera Investments LLC’s holdings in BlackLine were worth $1,119,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its stake in shares of BlackLine by 13.6% during the 3rd quarter. Principal Financial Group Inc. now owns 290,775 shares of the technology company’s stock worth $16,033,000 after acquiring an additional 34,919 shares in the last quarter. Icon Wealth Advisors LLC boosted its stake in shares of BlackLine by 307.5% during the 3rd quarter. Icon Wealth Advisors LLC now owns 16,452 shares of the technology company’s stock worth $907,000 after acquiring an additional 12,415 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of BlackLine by 61.9% during the 3rd quarter. Victory Capital Management Inc. now owns 25,677 shares of the technology company’s stock worth $1,416,000 after acquiring an additional 9,820 shares in the last quarter. Weiss Asset Management LP purchased a new stake in shares of BlackLine during the 3rd quarter worth about $1,506,000. Finally, Eagle Asset Management Inc. boosted its stake in shares of BlackLine by 74.0% during the 3rd quarter. Eagle Asset Management Inc. now owns 204,328 shares of the technology company’s stock worth $12,335,000 after acquiring an additional 86,931 shares in the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at BlackLine

In other news, CRO Mark Woodhams sold 24,408 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $64.32, for a total transaction of $1,569,922.56. Following the sale, the executive now owns 72,920 shares of the company’s stock, valued at approximately $4,690,214.40. This represents a 25.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.53% of the stock is owned by corporate insiders.

BlackLine Trading Up 0.0 %

BL opened at $48.88 on Friday. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of 33.71, a price-to-earnings-growth 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 company’s 50 day simple moving average is $56.91 and its two-hundred day simple moving average is $56.80. BlackLine, Inc. has a 1-year low of $43.37 and a 1-year high of $69.31.

BlackLine (NASDAQ:BL) last released its quarterly 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 net margin of 24.67% and a return on equity of 21.63%. Analysts expect that BlackLine, Inc. will post 0.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on BL shares. Bank of America raised shares of BlackLine from an “underperform” rating to a “buy” rating and increased their target price for the stock from $50.00 to $75.00 in a research note on Thursday, January 30th. Truist Financial decreased their price target on shares of BlackLine from $60.00 to $55.00 and set a “hold” rating on the stock in a research note on Wednesday, February 12th. BMO Capital Markets decreased their price target on shares of BlackLine from $68.00 to $60.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 12th. Piper Sandler decreased their price target on shares of BlackLine from $60.00 to $58.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 12th. Finally, StockNews.com lowered shares of BlackLine from a “buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $66.40.

BlackLine 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.