BlackLine, Inc. (NASDAQ:BL) Stock Position Boosted by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. grew its stake in shares of BlackLine, Inc. (NASDAQ:BL) by 0.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,600 shares of the technology company’s stock after buying an additional 400 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in BlackLine were worth $2,831,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. SBI Securities Co. Ltd. acquired a new stake in shares of BlackLine in the fourth quarter valued at $31,000. Global Retirement Partners LLC raised its position in BlackLine by 568.4% in the fourth quarter. Global Retirement Partners LLC now owns 528 shares of the technology company’s stock worth $32,000 after acquiring an additional 449 shares in the last quarter. GAMMA Investing LLC lifted its holdings in BlackLine by 41.2% in the 4th quarter. GAMMA Investing LLC now owns 634 shares of the technology company’s stock valued at $39,000 after acquiring an additional 185 shares during the last quarter. Asset Management One Co. Ltd. boosted its position 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 purchasing an additional 209 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of BlackLine by 44.0% in the 4th quarter. KBC Group NV now owns 2,180 shares of the technology company’s stock worth $132,000 after purchasing an additional 666 shares during the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

BlackLine Price Performance

Shares of BL opened at $50.29 on Friday. The business’s 50-day moving average is $54.93 and its 200-day moving average is $56.75. 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 has a market capitalization of $3.16 billion, a price-to-earnings ratio of 34.68, a P/E/G ratio of 10.80 and a beta of 1.03. BlackLine, Inc. has a fifty-two week low of $43.37 and a fifty-two week high of $69.09.

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

Insider Activity at BlackLine

In other BlackLine news, CRO Mark Woodhams sold 9,088 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were 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 of the company’s stock, valued at $3,249,113.38. The trade was a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 9.93% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on BL. Piper Sandler cut their target price on shares of BlackLine from $60.00 to $58.00 and set an “underweight” rating for the company in a research note on Wednesday, February 12th. JMP Securities reiterated a “market outperform” rating and set a $86.00 price objective on shares of BlackLine in a research report on Wednesday, January 15th. Citigroup decreased their target price on BlackLine from $73.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Truist Financial reduced their target price on BlackLine from $60.00 to $55.00 and set a “hold” rating for the company in a report on Wednesday, February 12th. Finally, BMO Capital Markets dropped their price target on BlackLine from $68.00 to $60.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus 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.