OLD National Bancorp IN Purchases New Stake in BlackLine, Inc. (NASDAQ:BL)

OLD National Bancorp IN purchased a new stake in BlackLine, Inc. (NASDAQ:BL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,237 shares of the technology company’s stock, valued at approximately $202,000.

Several other hedge funds have also recently bought and sold shares of BL. CWM LLC raised its stake in shares of BlackLine by 94.8% during the fourth quarter. CWM LLC now owns 452 shares of the technology company’s stock valued at $28,000 after purchasing an additional 220 shares during the period. CVA Family Office LLC purchased a new stake in shares of BlackLine during the fourth quarter valued at approximately $38,000. Federated Hermes Inc. raised its stake in shares of BlackLine by 505.2% during the third quarter. Federated Hermes Inc. now owns 926 shares of the technology company’s stock valued at $51,000 after purchasing an additional 773 shares during the period. Operose Advisors LLC raised its stake in shares of BlackLine by 291.2% during the third quarter. Operose Advisors LLC now owns 978 shares of the technology company’s stock valued at $54,000 after purchasing an additional 728 shares during the period. Finally, Cutler Group LLC CA bought a new stake in shares of BlackLine in the third quarter worth $74,000. Hedge funds and other institutional investors own 95.13% of the company’s stock.

BlackLine Stock Performance

BlackLine stock opened at $60.83 on Friday. The company has a market cap of $3.76 billion, a PE ratio of -608.30, a P/E/G ratio of 10.65 and a beta of 0.86. The company has a fifty day moving average price of $62.10 and a two-hundred day moving average price of $59.31. The company has a debt-to-equity ratio of 4.37, a current ratio of 2.19 and a quick ratio of 2.19. BlackLine, Inc. has a 12 month low of $47.26 and a 12 month high of $69.31.

BlackLine (NASDAQ:BL) last released its quarterly earnings data on Tuesday, February 13th. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $155.73 million during the quarter, compared to the consensus estimate of $154.24 million. Research analysts expect that BlackLine, Inc. will post 1.02 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BL. JPMorgan Chase & Co. dropped their price target on shares of BlackLine from $55.00 to $52.00 and set an “underweight” rating for the company in a research note on Wednesday, February 14th. JMP Securities restated a “market outperform” rating and issued a $81.00 price target on shares of BlackLine in a research note on Wednesday, February 14th. Piper Sandler upgraded shares of BlackLine from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $55.00 to $62.00 in a research note on Tuesday. The Goldman Sachs Group lifted their price target on shares of BlackLine from $49.00 to $54.00 and gave the stock a “sell” rating in a research note on Tuesday, January 23rd. Finally, Citigroup dropped their price target on shares of BlackLine from $66.00 to $63.00 and set a “neutral” rating for the company in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $62.20.

Insider Transactions at BlackLine

In other news, Director Kevin B. Thompson sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $57.50, for a total transaction of $258,750.00. Following the completion of the transaction, the director now directly owns 11,000 shares in the company, valued at $632,500. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Kevin B. Thompson sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $57.50, for a total transaction of $258,750.00. Following the completion of the transaction, the director now directly owns 11,000 shares in the company, valued at $632,500. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Thomas Unterman sold 750 shares of the business’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 transaction, the director now owns 51,470 shares of the company’s stock, valued at $3,088,200. The disclosure for this sale can be found here. Insiders own 9.93% 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.