3,431 Shares in BlackLine, Inc. (NASDAQ:BL) Bought by Mackenzie Financial Corp

Mackenzie Financial Corp bought a new position in BlackLine, Inc. (NASDAQ:BL) in the 4th quarter, Holdings Channel.com reports. The firm bought 3,431 shares of the technology company’s stock, valued at approximately $214,000.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of BlackLine by 6.1% during the third quarter. Vanguard Group Inc. now owns 6,658,540 shares of the technology company’s stock valued at $369,349,000 after purchasing an additional 380,614 shares during the period. Conestoga Capital Advisors LLC increased its stake in BlackLine by 3.5% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,414,835 shares of the technology company’s stock worth $88,342,000 after buying an additional 47,420 shares during the period. Meritage Group LP purchased a new stake in BlackLine during the 3rd quarter worth $59,530,000. Northern Trust Corp lifted its holdings in BlackLine by 16.7% in the 3rd quarter. Northern Trust Corp now owns 787,289 shares of the technology company’s stock worth $43,671,000 after buying an additional 112,684 shares in the last quarter. Finally, UBS Group AG grew its stake in shares of BlackLine by 855.5% during the third quarter. UBS Group AG now owns 657,004 shares of the technology company’s stock valued at $36,444,000 after acquiring an additional 588,245 shares in the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

BlackLine Price Performance

Shares of NASDAQ BL opened at $60.28 on Tuesday. BlackLine, Inc. has a 1-year low of $47.26 and a 1-year high of $69.31. The firm has a market capitalization of $3.73 billion, a PE ratio of -602.80, a P/E/G ratio of 10.81 and a beta of 0.86. The company has a debt-to-equity ratio of 4.37, a current ratio of 2.19 and a quick ratio of 2.19. The business’s fifty day moving average price is $62.16 and its two-hundred day moving average price is $59.41.

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on BL. JMP Securities reiterated a “market outperform” rating and issued a $81.00 price target on shares of BlackLine in a research note on Wednesday, February 14th. Citigroup decreased 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. Wolfe Research started coverage on shares of BlackLine in a report on Monday, March 18th. They set a “peer perform” rating for the company. Piper Sandler raised shares of BlackLine from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $55.00 to $62.00 in a research report on Tuesday, April 23rd. Finally, The Goldman Sachs Group boosted their price objective on BlackLine from $49.00 to $54.00 and gave the company a “sell” rating in a report on Tuesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $62.20.

Insider Buying and Selling at BlackLine

In other news, Director Thomas Unterman sold 750 shares of the stock in a transaction 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 transaction, the director now owns 51,470 shares of the company’s stock, valued at $3,088,200. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Thomas Unterman sold 750 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 51,470 shares of the company’s stock, valued at approximately $3,088,200. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kevin B. Thompson sold 4,500 shares of the firm’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 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. 9.93% of the stock is owned by company insiders.

BlackLine 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.