BlackLine, Inc. (NASDAQ:BL) Shares Acquired by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. boosted its position in BlackLine, Inc. (NASDAQ:BL) by 0.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 46,600 shares of the technology company’s stock after purchasing an additional 400 shares during the quarter. Hillsdale Investment Management Inc. owned about 0.07% of BlackLine worth $2,831,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in shares of BlackLine during the fourth quarter worth $31,000. Global Retirement Partners LLC boosted 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 buying an additional 449 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of 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 during the last quarter. Asset Management One Co. Ltd. lifted its holdings 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 worth $77,000 after acquiring an additional 209 shares during the period. Finally, KBC Group NV boosted its position in shares of BlackLine by 44.0% in the fourth quarter. KBC Group NV now owns 2,180 shares of the technology company’s stock worth $132,000 after acquiring an additional 666 shares during the last quarter. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at BlackLine

In related news, CRO Mark Woodhams sold 9,088 shares of the business’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 transaction, the executive now owns 65,414 shares in the company, valued at $3,249,113.38. The trade was a 12.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 9.93% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on BL. 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. BMO Capital Markets cut their price objective on BlackLine from $68.00 to $60.00 and set a “market perform” rating on the stock in a report on Wednesday, February 12th. Piper Sandler decreased their target price on BlackLine from $60.00 to $58.00 and set an “underweight” rating for the company in a report on Wednesday, February 12th. Citigroup cut their target price on shares of BlackLine from $73.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Finally, StockNews.com lowered BlackLine from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $66.40.

BlackLine Stock Up 1.0 %

Shares of BlackLine stock opened at $50.29 on Friday. 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 has a 50-day moving average price of $54.93 and a 200 day moving average price of $56.75. BlackLine, Inc. has a fifty-two week low of $43.37 and a fifty-two week high of $69.09. The firm has a market cap of $3.16 billion, a P/E ratio of 34.68, a P/E/G ratio of 10.80 and a beta of 1.03.

BlackLine (NASDAQ:BL) last posted its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.21 earnings per share (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%. On average, sell-side analysts forecast that BlackLine, Inc. will post 0.9 earnings per share for the current fiscal year.

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.