Y Intercept Hong Kong Ltd acquired a new position in BlackLine, Inc. (NASDAQ:BL - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 12,929 shares of the technology company's stock, valued at approximately $713,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. FMR LLC increased its position in BlackLine by 1.3% in the third quarter. FMR LLC now owns 5,153,275 shares of the technology company's stock worth $284,152,000 after buying an additional 64,435 shares in the last quarter. Conestoga Capital Advisors LLC grew its stake in shares of BlackLine by 24.9% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,759,098 shares of the technology company's stock valued at $96,997,000 after acquiring an additional 350,143 shares during the period. Geneva Capital Management LLC increased its holdings in BlackLine by 2.8% in the 3rd quarter. Geneva Capital Management LLC now owns 895,810 shares of the technology company's stock worth $49,395,000 after acquiring an additional 24,446 shares in the last quarter. Engaged Capital LLC bought a new stake in BlackLine during the 3rd quarter worth approximately $33,620,000. Finally, Dimensional Fund Advisors LP lifted its holdings in BlackLine by 65.4% during the second quarter. Dimensional Fund Advisors LP now owns 579,481 shares of the technology company's stock valued at $28,076,000 after purchasing an additional 229,151 shares in the last quarter. Hedge funds and other institutional investors own 95.13% of the company's stock.
In other BlackLine news, CFO Mark Partin sold 5,648 shares of the business's stock in a transaction on Friday, September 27th. The shares were sold at an average price of $53.00, for a total transaction of $299,344.00. Following the transaction, the chief financial officer now owns 226,844 shares in the company, valued at $12,022,732. The trade was a 2.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Karole Morgan-Prager sold 27,079 shares of the firm's stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $60.06, for a total transaction of $1,626,364.74. Following the completion of the sale, the insider now owns 113,865 shares of the company's stock, valued at $6,838,731.90. This trade represents a 19.21 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 134,108 shares of company stock valued at $7,488,826. Insiders own 9.93% of the company's stock.
BL stock opened at $63.86 on Friday. BlackLine, Inc. has a 52 week low of $43.37 and a 52 week high of $69.31. The firm has a market capitalization of $3.99 billion, a P/E ratio of 65.16, a price-to-earnings-growth ratio of 15.18 and a beta of 0.90. The company has a fifty day simple moving average of $59.48 and a two-hundred day simple moving average of $52.49. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 2.42.
BL has been the subject of a number of analyst reports. JMP Securities increased their price objective on shares of BlackLine from $81.00 to $86.00 and gave the stock a "market outperform" rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. increased their price target on BlackLine from $47.00 to $50.00 and gave the stock an "underweight" rating in a research note on Friday, October 25th. Truist Financial boosted their price objective on BlackLine from $55.00 to $60.00 and gave the company a "hold" rating in a research report on Monday, November 11th. Piper Sandler reiterated a "neutral" rating and set a $60.00 target price on shares of BlackLine in a research report on Wednesday, November 20th. Finally, Morgan Stanley boosted their price target on BlackLine from $70.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $64.10.
Check Out Our Latest Stock Report on BlackLine
BlackLine, Inc provides cloud-based solutions to automate and streamline accounting and finance operations worldwide. It offers financial close management solutions, such as account reconciliations that provides a centralized workspace for users to collaborate on account reconciliations; transaction matching that analyzes and reconciles individual transactions; task management to create and manage processes and task lists; and financial reporting analytics that enables analysis and validation of financial data.
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