Xponance Inc. Has $214,000 Holdings in BlackLine (NASDAQ:BL)

Xponance Inc. lifted its holdings in shares of BlackLine (NASDAQ:BL) by 6.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,422 shares of the technology company’s stock after purchasing an additional 280 shares during the quarter. Xponance Inc.’s holdings in BlackLine were worth $214,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its stake in BlackLine by 243.5% in the fourth quarter. Quadrant Capital Group LLC now owns 584 shares of the technology company’s stock valued at $35,000 after purchasing an additional 414 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of BlackLine during the 4th quarter valued at approximately $50,000. Huntington National Bank lifted its stake in BlackLine by 596.4% in the 4th quarter. Huntington National Bank now owns 968 shares of the technology company’s stock worth $59,000 after purchasing an additional 829 shares in the last quarter. Johnson Financial Group Inc. purchased a new stake in BlackLine in the 4th quarter worth approximately $73,000. Finally, Covestor Ltd increased its holdings in shares of BlackLine by 20.1% in the 4th quarter. Covestor Ltd now owns 1,672 shares of the technology company’s stock worth $102,000 after buying an additional 280 shares during the last quarter. 95.13% of the stock is owned by institutional investors.

BlackLine Stock Performance

Shares of BlackLine stock opened at $56.56 on Friday. The firm has a market capitalization of $3.52 billion, a P/E ratio of 40.99, a P/E/G ratio of 9.34 and a beta of 0.93. BlackLine has a 52 week low of $40.82 and a 52 week high of $66.25. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.59. The firm’s 50 day moving average is $55.83 and its two-hundred day moving average is $53.37.

Analyst Ratings Changes

Several equities research analysts have recently commented on BL shares. Citigroup reaffirmed a “buy” rating and issued a $67.00 target price (up from $58.00) on shares of BlackLine in a research report on Wednesday. Truist Financial lifted their price target on shares of BlackLine from $40.00 to $45.00 and gave the company a “hold” rating in a report on Thursday, May 8th. Wall Street Zen downgraded shares of BlackLine from a “buy” rating to a “hold” rating in a report on Thursday, May 15th. Cantor Fitzgerald assumed coverage on shares of BlackLine in a research report on Tuesday, June 3rd. They issued a “neutral” rating and a $58.00 price target on the stock. Finally, The Goldman Sachs Group reduced their price target on shares of BlackLine from $51.00 to $43.00 and set a “sell” rating on the stock in a research report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $60.31.

Insider Activity

In other BlackLine news, CAO Michelle D. Stalick sold 795 shares of the company’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $55.14, for a total value of $43,836.30. Following the transaction, the chief accounting officer directly owned 25,235 shares of the company’s stock, valued at $1,391,457.90. This represents a 3.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO Mark Woodhams sold 1,856 shares of the business’s stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $54.65, for a total value of $101,430.40. Following the completion of the sale, the executive owned 61,390 shares of the company’s stock, valued at $3,354,963.50. This trade represents a 2.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.60% of the stock is owned by insiders.

About BlackLine

BlackLine, Inc operates a cloud-based software platform which is designed to transform accounting and finance operations for organizations of all types and sizes. Its scalable platform supports critical accounting processes such as the financial close, account reconciliations, intercompany accounting, and controls assurance.