Stratos Wealth Partners LTD. Has $697,000 Stock Position in BlackLine, Inc. (NASDAQ:BL)

Stratos Wealth Partners LTD. increased its position in shares of BlackLine, Inc. (NASDAQ:BL) by 8.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,156 shares of the technology company’s stock after purchasing an additional 907 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in BlackLine were worth $697,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. CVA Family Office LLC bought a new stake in BlackLine during the 4th quarter worth about $38,000. Quarry LP grew its holdings in BlackLine by 1,101.9% during the 1st quarter. Quarry LP now owns 625 shares of the technology company’s stock worth $42,000 after acquiring an additional 573 shares during the last quarter. Federated Hermes Inc. grew its holdings in BlackLine by 505.2% during the 3rd quarter. Federated Hermes Inc. now owns 926 shares of the technology company’s stock worth $51,000 after acquiring an additional 773 shares during the last quarter. Operose Advisors LLC grew its holdings in BlackLine by 291.2% during the 3rd quarter. Operose Advisors LLC now owns 978 shares of the technology company’s stock worth $54,000 after acquiring an additional 728 shares during the last quarter. Finally, Cutler Group LLC CA bought a new stake in BlackLine during the 3rd quarter worth about $74,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

Insider Activity

In other news, Director Kevin B. Thompson sold 4,500 shares of BlackLine stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $57.50, for a total value of $258,750.00. Following the sale, the director now directly owns 11,000 shares in the company, valued at $632,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Thomas Unterman sold 750 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $60.00, for a total value of $45,000.00. Following the completion of the transaction, the director now directly owns 51,470 shares of the company’s stock, valued at $3,088,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kevin B. Thompson sold 4,500 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $57.50, for a total transaction of $258,750.00. Following the completion of the transaction, the director now directly owns 11,000 shares of the company’s stock, valued at $632,500. The disclosure for this sale can be found here. 9.53% of the stock is owned by corporate insiders.

BlackLine Stock Performance

Shares of BL stock opened at $64.71 on Friday. The company has a debt-to-equity ratio of 4.37, a quick ratio of 2.19 and a current ratio of 2.19. The company has a market capitalization of $4.00 billion, a P/E ratio of -647.10, a price-to-earnings-growth ratio of 11.55 and a beta of 0.86. The company’s 50 day moving average price is $62.11 and its two-hundred day moving average price is $58.85. BlackLine, Inc. has a 52 week low of $47.26 and a 52 week high of $69.31.

BlackLine (NASDAQ:BL) last announced its earnings results on Tuesday, February 13th. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.26 by $0.28. The firm had revenue of $155.73 million for the quarter, compared to the consensus estimate of $154.24 million. BlackLine had a negative net margin of 1.50% and a positive return on equity of 2.15%. On average, analysts expect that BlackLine, Inc. will post 1.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BL. Citigroup increased their price objective on shares of BlackLine from $57.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, March 27th. Robert W. Baird reduced their target price on shares of BlackLine from $65.00 to $61.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 14th. JMP Securities reaffirmed a “market outperform” rating and issued a $81.00 target price on shares of BlackLine in a research note on Wednesday, February 14th. JPMorgan Chase & Co. reduced their target price on shares of BlackLine from $55.00 to $52.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 14th. Finally, Piper Sandler reduced their target price on shares of BlackLine from $60.00 to $55.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 14th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $61.80.

About 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.