Xponance Inc. Makes New Investment in BlackLine, Inc. (NASDAQ:BL)

Xponance Inc. acquired a new position in BlackLine, Inc. (NASDAQ:BL) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,441 shares of the technology company’s stock, valued at approximately $215,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. CVA Family Office LLC purchased a new position in shares of BlackLine during the fourth quarter valued at approximately $38,000. Federated Hermes Inc. lifted its holdings in shares of BlackLine by 505.2% during the third quarter. Federated Hermes Inc. now owns 926 shares of the technology company’s stock valued at $51,000 after purchasing an additional 773 shares during the last quarter. Operose Advisors LLC lifted its holdings in shares of BlackLine by 291.2% during the third quarter. Operose Advisors LLC now owns 978 shares of the technology company’s stock valued at $54,000 after purchasing an additional 728 shares during the last quarter. Cutler Group LLC CA purchased a new position in shares of BlackLine during the third quarter valued at approximately $74,000. Finally, Headlands Technologies LLC purchased a new position in shares of BlackLine during the third quarter valued at approximately $79,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

BlackLine Trading Up 3.3 %

NASDAQ:BL opened at $60.83 on Friday. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 4.37. BlackLine, Inc. has a 12 month low of $47.26 and a 12 month high of $69.31. The company has a market cap of $3.76 billion, a PE ratio of -608.30, a price-to-earnings-growth ratio of 10.46 and a beta of 0.86. The company has a 50 day simple moving average of $62.10 and a two-hundred day simple moving average of $59.34.

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

Insider Transactions at BlackLine

In other news, Director Thomas Unterman sold 750 shares of BlackLine stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $60.00, for a total transaction of $45,000.00. Following the transaction, the director now owns 51,470 shares in the company, valued at approximately $3,088,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Thomas Unterman sold 750 shares of BlackLine stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $60.00, for a total transaction of $45,000.00. Following the transaction, the director now owns 51,470 shares in the company, valued at approximately $3,088,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kevin B. Thompson sold 4,500 shares of BlackLine stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $57.50, for a total transaction of $258,750.00. Following the transaction, the director now owns 11,000 shares in the company, valued at approximately $632,500. The disclosure for this sale can be found here. Corporate insiders own 9.93% of the company’s stock.

Analyst Ratings Changes

BL has been the subject of several analyst reports. Wolfe Research initiated coverage on shares of BlackLine in a research report on Monday, March 18th. They set a “peer perform” rating for the company. JPMorgan Chase & Co. reduced their price target on shares of BlackLine from $55.00 to $52.00 and set an “underweight” rating for the company in a research report on Wednesday, February 14th. Piper Sandler raised shares of BlackLine from an “underweight” rating to a “neutral” rating and raised their price target for the company from $55.00 to $62.00 in a research report on Tuesday, April 23rd. Citigroup reduced their price target on shares of BlackLine from $66.00 to $63.00 and set a “neutral” rating for the company in a research report on Tuesday, April 23rd. Finally, Robert W. Baird reduced their price target on shares of BlackLine from $65.00 to $61.00 and set an “outperform” rating for the company in a research report on Wednesday, February 14th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, BlackLine has a consensus rating of “Hold” and a consensus price target of $62.20.

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.