BlackLine, Inc. (NASDAQ:BL) Holdings Raised by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board increased its stake in BlackLine, Inc. (NASDAQ:BL) by 58.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,200 shares of the technology company’s stock after purchasing an additional 14,100 shares during the quarter. Canada Pension Plan Investment Board’s holdings in BlackLine were worth $2,321,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. SBI Securities Co. Ltd. acquired a new stake in shares of BlackLine in the fourth quarter worth $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 worth $32,000 after acquiring an additional 449 shares in the last quarter. Quadrant Capital Group LLC boosted its position in BlackLine by 243.5% during the 4th quarter. Quadrant Capital Group LLC now owns 584 shares of the technology company’s stock worth $35,000 after acquiring an additional 414 shares during the period. GAMMA Investing LLC grew its stake in 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 acquiring an additional 185 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of BlackLine in the 4th quarter valued at about $50,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

BlackLine Trading Up 1.1 %

Shares of BL stock opened at $45.56 on Thursday. BlackLine, Inc. has a 12 month low of $40.82 and a 12 month high of $66.25. The company has a market cap of $2.87 billion, a PE ratio of 31.42, a price-to-earnings-growth ratio of 10.80 and a beta of 0.97. The company has a quick ratio of 2.69, a current ratio of 2.59 and a debt-to-equity ratio of 2.00. The business’s 50 day moving average is $47.70 and its two-hundred day moving average is $55.84.

BlackLine (NASDAQ:BL) last posted 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 net margin of 24.67% and a return on equity of 21.63%. Equities analysts predict that BlackLine, Inc. will post 0.9 EPS for the current year.

Insider Buying and Selling

In other news, CRO Mark Woodhams sold 9,088 shares of the firm’s stock in a transaction 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 sale, the executive now owns 65,414 shares in the company, valued at approximately $3,249,113.38. This trade represents a 12.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 8.60% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on BL shares. Bank of America raised shares of BlackLine from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $50.00 to $75.00 in a research report on Thursday, January 30th. StockNews.com cut shares of BlackLine from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th. Citigroup cut their price objective on BlackLine from $73.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Morgan Stanley lowered their target price on BlackLine from $80.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $86.00 price target on shares of BlackLine in a research note on Wednesday, January 15th. Two analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $60.00.

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.