Strs Ohio Buys 600 Shares of BlackLine, Inc. (NASDAQ:BL)

Strs Ohio increased its position in BlackLine, Inc. (NASDAQ:BL) by 19.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,700 shares of the technology company’s stock after purchasing an additional 600 shares during the period. Strs Ohio’s holdings in BlackLine were worth $231,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in BlackLine by 6.1% during the 3rd 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 last quarter. Conestoga Capital Advisors LLC lifted its holdings in shares of BlackLine by 3.5% during the fourth quarter. Conestoga Capital Advisors LLC now owns 1,414,835 shares of the technology company’s stock valued at $88,342,000 after purchasing an additional 47,420 shares in the last quarter. Meritage Group LP purchased a new stake in shares of BlackLine during the third quarter valued at $59,530,000. Northern Trust Corp increased 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 increased its holdings in BlackLine by 855.5% in the 3rd quarter. UBS Group AG now owns 657,004 shares of the technology company’s stock worth $36,444,000 after buying an additional 588,245 shares in the last quarter. 95.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BL. Robert W. Baird lowered 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. Wolfe Research started coverage on shares of BlackLine in a research report on Monday, March 18th. They issued a “peer perform” rating for the company. JMP Securities reissued a “market outperform” rating and set a $81.00 price target on shares of BlackLine in a report on Wednesday, February 14th. JPMorgan Chase & Co. dropped their price target on BlackLine from $55.00 to $52.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 14th. Finally, William Blair cut BlackLine from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 14th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $62.20.

Insider Transactions at BlackLine

In other BlackLine news, Director Thomas Unterman sold 750 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $60.00, for a total transaction of $45,000.00. Following the sale, the director now directly owns 51,470 shares of the company’s stock, valued at $3,088,200. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 transaction, the director now directly owns 51,470 shares in the company, valued at approximately $3,088,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $258,750.00. Following the sale, 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.

BlackLine Stock Down 0.9 %

NASDAQ BL opened at $60.28 on Tuesday. BlackLine, Inc. has a 52 week low of $47.26 and a 52 week high of $69.31. 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 company has a market capitalization of $3.73 billion, a P/E ratio of -602.80, a price-to-earnings-growth ratio of 10.81 and a beta of 0.86. The stock’s 50-day moving average price is $62.16 and its 200-day moving average price is $59.41.

BlackLine (NASDAQ:BL) last released its earnings results on Tuesday, February 13th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $155.73 million during the quarter, compared to analyst estimates of $154.24 million. On average, equities research analysts predict that BlackLine, Inc. will post 1.02 earnings per share for the current year.

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.