Mirae Asset Global Investments Co. Ltd. Raises Stake in BlackLine, Inc. (NASDAQ:BL)

Mirae Asset Global Investments Co. Ltd. increased its stake in BlackLine, Inc. (NASDAQ:BL) by 4.6% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 26,257 shares of the technology company’s stock after buying an additional 1,150 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in BlackLine were worth $1,639,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CVA Family Office LLC purchased a new position in shares of BlackLine in the 4th quarter worth about $38,000. Quarry LP raised its stake in BlackLine by 1,101.9% in the 1st quarter. Quarry LP now owns 625 shares of the technology company’s stock valued at $42,000 after acquiring an additional 573 shares during the period. Federated Hermes Inc. raised its stake in BlackLine by 505.2% in the 3rd quarter. Federated Hermes Inc. now owns 926 shares of the technology company’s stock valued at $51,000 after acquiring an additional 773 shares during the period. Operose Advisors LLC raised its stake in BlackLine by 291.2% in the 3rd quarter. Operose Advisors LLC now owns 978 shares of the technology company’s stock valued at $54,000 after acquiring an additional 728 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in BlackLine by 90.3% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,218 shares of the technology company’s stock valued at $82,000 after acquiring an additional 578 shares during the period. 95.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on BL shares. William Blair cut BlackLine from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 14th. Wolfe Research started coverage on BlackLine in a research note on Monday, March 18th. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. lowered their price objective on BlackLine from $55.00 to $52.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 14th. Citigroup boosted their price objective on BlackLine from $57.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, March 27th. Finally, JMP Securities reiterated a “market outperform” rating and set a $81.00 price target on shares of BlackLine in a research report on Wednesday, February 14th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, BlackLine presently has a consensus rating of “Hold” and an average target price of $61.80.

BlackLine Trading Down 0.8 %

Shares of BL opened at $57.37 on Friday. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 4.37. The business’s 50-day moving average price is $62.02 and its 200-day moving average price is $59.09. The stock has a market cap of $3.55 billion, a PE ratio of -573.70, a P/E/G ratio of 10.28 and a beta of 0.86. BlackLine, Inc. has a twelve month low of $47.26 and a twelve month high of $69.31.

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

Insider Buying and Selling

In related news, Director Kevin B. Thompson sold 4,500 shares of the company’s 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 transaction, the director now directly owns 11,000 shares in the company, valued at $632,500. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other BlackLine news, Director Thomas Unterman sold 750 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $60.00, for a total value of $45,000.00. Following the completion of the sale, the director now owns 51,470 shares of the company’s stock, valued at $3,088,200. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kevin B. Thompson sold 4,500 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $57.50, for a total value of $258,750.00. Following the completion of the sale, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $632,500. The disclosure for this sale can be found here. 9.93% of the stock is owned by company insiders.

BlackLine Company Profile

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.