FourThought Financial LLC Raises Stock Position in BlackLine, Inc. (NASDAQ:BL)

FourThought Financial LLC boosted its position in shares of BlackLine, Inc. (NASDAQ:BL – Get Rating) by 12.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,229 shares of the technology company’s stock after purchasing an additional 925 shares during the period. FourThought Financial LLC’s holdings in BlackLine were worth $493,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Advisors Capital Management LLC raised its stake in BlackLine by 40.8% during the third quarter. Advisors Capital Management LLC now owns 41,051 shares of the technology company’s stock worth $2,606,000 after purchasing an additional 11,901 shares during the period. Captrust Financial Advisors raised its stake in shares of BlackLine by 16.4% in the 3rd quarter. Captrust Financial Advisors now owns 6,582 shares of the technology company’s stock valued at $394,000 after acquiring an additional 927 shares during the period. Kensington Investment Counsel LLC raised its stake in shares of BlackLine by 28.8% in the 3rd quarter. Kensington Investment Counsel LLC now owns 39,389 shares of the technology company’s stock valued at $2,359,000 after acquiring an additional 8,812 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of BlackLine by 25.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 14,308 shares of the technology company’s stock valued at $857,000 after acquiring an additional 2,878 shares during the period. Finally, Twinbeech Capital LP purchased a new stake in shares of BlackLine in the 3rd quarter valued at approximately $3,194,000. 99.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Citigroup boosted their price target on shares of BlackLine from $63.00 to $65.00 and gave the company a “sell” rating in a research note on Wednesday, February 15th. BMO Capital Markets reduced their price target on shares of BlackLine from $76.00 to $71.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 15th. Truist Financial boosted their price target on shares of BlackLine from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, February 15th. Robert W. Baird lifted their price objective on shares of BlackLine from $72.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, February 15th. Finally, StockNews.com began coverage on shares of BlackLine in a report on Thursday. They issued a “hold” rating for the company. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $70.67.

BlackLine Trading Up 3.4 %

NASDAQ BL opened at $66.15 on Friday. The company has a quick ratio of 3.40, a current ratio of 3.40 and a debt-to-equity ratio of 12.38. BlackLine, Inc. has a 52 week low of $48.73 and a 52 week high of $79.23. The stock has a market capitalization of $3.97 billion, a PE ratio of -129.71 and a beta of 0.91. The firm has a 50 day moving average of $70.08 and a two-hundred day moving average of $65.60.

BlackLine (NASDAQ:BL – Get Rating) last posted its quarterly earnings results on Tuesday, February 14th. The technology company reported $0.10 EPS for the quarter, topping the consensus estimate of ($0.12) by $0.22. BlackLine had a negative net margin of 5.62% and a negative return on equity of 35.01%. The company had revenue of $139.96 million during the quarter, compared to analysts’ expectations of $139.17 million. As a group, research analysts expect that BlackLine, Inc. will post -0.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other BlackLine news, Director Thomas Unterman sold 448 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $68.31, for a total transaction of $30,602.88. Following the completion of the transaction, the director now owns 52,583 shares in the company, valued at approximately $3,591,944.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Mark Partin sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $69.16, for a total transaction of $691,600.00. Following the completion of the sale, the chief financial officer now owns 164,539 shares in the company, valued at approximately $11,379,517.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas Unterman sold 448 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $68.31, for a total transaction of $30,602.88. Following the sale, the director now owns 52,583 shares of the company’s stock, valued at approximately $3,591,944.73. The disclosure for this sale can be found here. Insiders sold 61,275 shares of company stock worth $4,317,716 in the last 90 days. Corporate insiders own 9.71% of the company’s stock.

About BlackLine

(Get Rating)

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.