BlackLine, Inc. (NASDAQ:BL) Shares Bought by Eagle Asset Management Inc.

Eagle Asset Management Inc. increased its position in BlackLine, Inc. (NASDAQ:BL) by 74.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 204,328 shares of the technology company’s stock after acquiring an additional 86,931 shares during the period. Eagle Asset Management Inc. owned approximately 0.33% of BlackLine worth $12,335,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its stake in BlackLine by 4.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 495,222 shares of the technology company’s stock valued at $27,307,000 after acquiring an additional 20,027 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of BlackLine in the third quarter valued at approximately $818,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of BlackLine by 214.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 128,149 shares of the technology company’s stock worth $7,066,000 after purchasing an additional 87,431 shares during the last quarter. Quest Partners LLC purchased a new stake in BlackLine in the 3rd quarter valued at approximately $485,000. Finally, Thrivent Financial for Lutherans grew its holdings in BlackLine by 4.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 44,639 shares of the technology company’s stock valued at $2,462,000 after buying an additional 2,046 shares during the last quarter. 95.13% of the stock is owned by hedge funds and other institutional investors.

BlackLine Stock Performance

Shares of NASDAQ:BL opened at $62.70 on Friday. The firm has a market capitalization of $3.92 billion, a PE ratio of 63.98, a P/E/G ratio of 14.48 and a beta of 0.90. BlackLine, Inc. has a 12 month low of $43.37 and a 12 month high of $69.31. The company has a debt-to-equity ratio of 2.42, a current ratio of 2.69 and a quick ratio of 2.69. The business has a 50-day moving average of $56.26 and a two-hundred day moving average of $51.76.

Insider Buying and Selling at BlackLine

In other news, CFO Mark Partin sold 5,648 shares of BlackLine stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $53.00, for a total transaction of $299,344.00. Following the sale, the chief financial officer now owns 226,844 shares in the company, valued at $12,022,732. This trade represents a 2.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Karole Morgan-Prager sold 5,773 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $55.14, for a total transaction of $318,323.22. Following the transaction, the insider now directly owns 113,865 shares in the company, valued at approximately $6,278,516.10. The trade was a 4.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 134,108 shares of company stock valued at $7,488,826 over the last ninety days. Corporate insiders own 9.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on BlackLine from $47.00 to $50.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Truist Financial raised their price target on shares of BlackLine from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. BTIG Research cut their price objective on shares of BlackLine from $71.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Morgan Stanley lifted their target price on shares of BlackLine from $70.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Robert W. Baird reduced their price target on BlackLine from $72.00 to $65.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $64.10.

About BlackLine

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.