1,311 Shares in BlackLine, Inc. (NASDAQ:BL) Acquired by 1620 Investment Advisors Inc.

1620 Investment Advisors Inc. purchased a new stake in BlackLine, Inc. (NASDAQ:BL) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,311 shares of the technology company’s stock, valued at approximately $64,000.

Several other large investors also recently made changes to their positions in BL. Los Angeles Capital Management LLC boosted its position in BlackLine by 44.5% during the 4th quarter. Los Angeles Capital Management LLC now owns 58,476 shares of the technology company’s stock worth $3,651,000 after acquiring an additional 18,014 shares during the last quarter. Quadrature Capital Ltd grew its position in BlackLine by 346.5% in the first quarter. Quadrature Capital Ltd now owns 31,846 shares of the technology company’s stock valued at $2,055,000 after purchasing an additional 24,713 shares in the last quarter. Cetera Investment Advisers acquired a new stake in BlackLine in the 1st quarter valued at $1,572,000. Comerica Bank increased its stake in BlackLine by 11.8% in the 1st quarter. Comerica Bank now owns 124,266 shares of the technology company’s stock valued at $8,025,000 after buying an additional 13,066 shares during the last quarter. Finally, State of Alaska Department of Revenue bought a new stake in BlackLine during the 1st quarter worth about $2,000,000. Institutional investors own 95.13% of the company’s stock.

Insider Buying and Selling at BlackLine

In other news, CRO Mark Woodhams sold 1,387 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $51.70, for a total transaction of $71,707.90. Following the transaction, the executive now owns 97,582 shares in the company, valued at $5,044,989.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CRO Mark Woodhams sold 1,387 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $51.70, for a total transaction of $71,707.90. Following the transaction, the executive now directly owns 97,582 shares of the company’s stock, valued at $5,044,989.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Mark Partin sold 50,000 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $47.38, for a total transaction of $2,369,000.00. Following the completion of the sale, the chief financial officer now directly owns 229,341 shares of the company’s stock, valued at approximately $10,866,176.58. The disclosure for this sale can be found here. Insiders have sold a total of 66,765 shares of company stock valued at $3,220,418 in the last three months. 9.93% of the stock is currently owned by company insiders.

BlackLine Stock Down 2.8 %

BL opened at $49.50 on Friday. The stock’s fifty day simple moving average is $48.00 and its 200 day simple moving average is $54.96. BlackLine, Inc. has a 1-year low of $43.37 and a 1-year high of $69.31. The stock has a market cap of $3.06 billion, a PE ratio of 215.22, a price-to-earnings-growth ratio of 5.32 and a beta of 0.86. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 4.08.

BlackLine (NASDAQ:BL) last issued its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.08. The company had revenue of $160.51 million for the quarter, compared to analyst estimates of $158.21 million. BlackLine had a net margin of 2.30% and a return on equity of 9.07%. The company’s revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.69) earnings per share. As a group, research analysts expect that BlackLine, Inc. will post 1.1 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their target price on BlackLine from $50.00 to $47.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 7th. Truist Financial lowered their price target on BlackLine from $60.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. Robert W. Baird dropped their price objective on BlackLine from $72.00 to $65.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. BMO Capital Markets raised their target price on shares of BlackLine from $65.00 to $67.00 and gave the company a “market perform” rating in a research note on Wednesday, May 8th. Finally, William Blair raised shares of BlackLine to a “hold” rating in a research report on Tuesday, May 7th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $58.78.

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.