BlackLine, Inc. (NASDAQ:BL) Shares Bought by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP grew its position in shares of BlackLine, Inc. (NASDAQ:BL) by 51.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 79,440 shares of the technology company’s stock after buying an additional 27,081 shares during the quarter. Advantage Alpha Capital Partners LP’s holdings in BlackLine were worth $4,827,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. LPL Financial LLC boosted its holdings in shares of BlackLine by 88.5% during the fourth quarter. LPL Financial LLC now owns 17,248 shares of the technology company’s stock worth $1,048,000 after purchasing an additional 8,100 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in BlackLine in the 4th quarter worth about $650,000. Hillsdale Investment Management Inc. grew its holdings in BlackLine by 0.9% in the 4th quarter. Hillsdale Investment Management Inc. now owns 46,600 shares of the technology company’s stock valued at $2,831,000 after buying an additional 400 shares during the period. Sei Investments Co. increased its stake in shares of BlackLine by 6.2% during the 4th quarter. Sei Investments Co. now owns 147,381 shares of the technology company’s stock valued at $8,955,000 after acquiring an additional 8,558 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of BlackLine by 12,538.0% during the 4th quarter. American Century Companies Inc. now owns 896,665 shares of the technology company’s stock valued at $54,481,000 after acquiring an additional 889,570 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Wall Street Analyst Weigh In

BL has been the subject of a number of recent analyst reports. Citigroup lowered their target price on shares of BlackLine from $73.00 to $70.00 and set a “buy” rating for the company 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 for the company in a report on Wednesday, February 12th. Bank of America upgraded BlackLine from an “underperform” rating to a “buy” rating and lifted their target price for the company from $50.00 to $75.00 in a report on Thursday, January 30th. Truist Financial dropped their price target on BlackLine from $60.00 to $55.00 and set a “hold” rating for the company in a research note on Wednesday, February 12th. Finally, StockNews.com lowered 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, four have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $66.40.

BlackLine Stock Performance

Shares of NASDAQ:BL opened at $50.29 on Monday. The business’s 50-day simple moving average is $54.93 and its 200 day simple moving average is $56.80. The company has a market cap of $3.16 billion, a P/E ratio of 34.68, a PEG ratio of 10.80 and a beta of 1.03. The company has a debt-to-equity ratio of 2.00, a quick ratio of 2.69 and a current ratio of 2.59. BlackLine, Inc. has a one year low of $43.37 and a one year high of $69.09.

BlackLine (NASDAQ:BL) last posted 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%. On average, sell-side analysts forecast that BlackLine, Inc. will post 0.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BlackLine news, CRO Mark Woodhams sold 9,088 shares of the firm’s stock in a transaction that occurred 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 sale, the executive now 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 9.93% of the stock is currently owned by company insiders.

About BlackLine

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.