Creative Planning Purchases 3,758 Shares of BlackLine, Inc. (NASDAQ:BL)

Creative Planning grew its holdings in shares of BlackLine, Inc. (NASDAQ:BL) by 88.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,984 shares of the technology company’s stock after buying an additional 3,758 shares during the period. Creative Planning’s holdings in BlackLine were worth $440,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Procyon Advisors LLC raised its position in shares of BlackLine by 52.8% in the 3rd quarter. Procyon Advisors LLC now owns 6,673 shares of the technology company’s stock worth $368,000 after acquiring an additional 2,305 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in shares of BlackLine by 40.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 404,400 shares of the technology company’s stock valued at $22,299,000 after purchasing an additional 116,900 shares during the period. SG Americas Securities LLC purchased a new position in shares of BlackLine in the 3rd quarter valued at approximately $2,286,000. Sanctuary Advisors LLC purchased a new position in shares of BlackLine in the 2nd quarter valued at approximately $220,000. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in shares of BlackLine by 39.6% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 19,600 shares of the technology company’s stock valued at $949,000 after purchasing an additional 5,563 shares during the period. 95.13% of the stock is currently owned by institutional investors.

BlackLine Stock Performance

Shares of BL opened at $58.63 on Thursday. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.95 and a quick ratio of 1.95. BlackLine, Inc. has a one year low of $43.37 and a one year high of $69.31. The firm has a market capitalization of $3.65 billion, a P/E ratio of 65.14, a PEG ratio of 13.60 and a beta of 0.90. The business has a fifty day moving average of $53.50 and a 200 day moving average of $51.65.

BlackLine (NASDAQ:BL) last issued its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.50 by $0.08. BlackLine had a return on equity of 33.96% and a net margin of 19.46%. The company had revenue of $160.51 million during the quarter, compared to analyst estimates of $158.21 million. During the same quarter in the previous year, the company posted ($0.69) earnings per share. BlackLine’s revenue was up 11.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that BlackLine, Inc. will post 0.96 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Piper Sandler lowered their price objective on BlackLine from $55.00 to $51.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Morgan Stanley upgraded BlackLine from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $60.00 to $70.00 in a research note on Monday, September 30th. BTIG Research lowered their price objective on BlackLine from $71.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Robert W. Baird lowered their price objective on BlackLine from $72.00 to $65.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Finally, JMP Securities reiterated a “market outperform” rating and set a $81.00 price objective on shares of BlackLine in a research note on Monday, July 15th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $61.20.

Insider Buying and Selling at BlackLine

In other BlackLine news, CRO Mark Woodhams sold 1,387 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $51.70, for a total transaction of $71,707.90. Following the completion of the sale, the executive now owns 97,582 shares of the company’s stock, valued at approximately $5,044,989.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CRO Mark Woodhams sold 1,387 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $51.70, for a total value of $71,707.90. Following the transaction, the executive now directly owns 97,582 shares in the company, valued at $5,044,989.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Barbara Whye sold 5,378 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $52.01, for a total value of $279,709.78. Following the completion of the transaction, the director now owns 6,777 shares in the company, valued at $352,471.77. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 140,873 shares of company stock valued at $7,840,243. Company insiders own 9.53% of the company’s stock.

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.