104,301 Shares in BlackLine, Inc. (NASDAQ:BL) Bought by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC acquired a new stake in shares of BlackLine, Inc. (NASDAQ:BL) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 104,301 shares of the technology company’s stock, valued at approximately $6,337,000.

A number of other institutional investors and hedge funds have also made changes to their positions in BL. Topline Capital Management LLC purchased a new position in shares of BlackLine in the 4th quarter worth approximately $60,572,000. Stifel Financial Corp lifted its position in BlackLine by 60.2% in the fourth quarter. Stifel Financial Corp now owns 6,561 shares of the technology company’s stock worth $399,000 after buying an additional 2,465 shares during the last quarter. MYDA Advisors LLC purchased a new position in BlackLine during the fourth quarter worth $1,458,000. MetLife Investment Management LLC increased its position in BlackLine by 4.5% during the fourth quarter. MetLife Investment Management LLC now owns 34,812 shares of the technology company’s stock valued at $2,115,000 after acquiring an additional 1,509 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of BlackLine by 8.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 721,831 shares of the technology company’s stock valued at $43,858,000 after acquiring an additional 58,365 shares during the period. 95.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. BMO Capital Markets cut their price target on shares of BlackLine from $68.00 to $60.00 and set a “market perform” rating on the stock in a report on Wednesday, February 12th. StockNews.com cut BlackLine from a “buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Bank of America raised BlackLine from an “underperform” rating to a “buy” rating and raised their price target for the stock from $50.00 to $75.00 in a research note on Thursday, January 30th. Morgan Stanley cut their price target on shares of BlackLine from $80.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Finally, DA Davidson decreased their price objective on shares of BlackLine from $58.00 to $55.00 and set a “buy” rating for the company in a report on Monday, April 14th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $60.00.

Insider Buying and Selling at BlackLine

In other news, CRO Mark Woodhams sold 9,088 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $49.67, for a total value of $451,400.96. Following the sale, the executive now owns 65,414 shares in the company, valued at $3,249,113.38. This represents a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.60% of the company’s stock.

BlackLine Price Performance

Shares of NASDAQ BL opened at $47.22 on Monday. BlackLine, Inc. has a fifty-two week low of $40.82 and a fifty-two week high of $66.25. The company has a debt-to-equity ratio of 2.00, a quick ratio of 2.69 and a current ratio of 2.59. The company has a market cap of $2.98 billion, a PE ratio of 32.57, a P/E/G ratio of 10.80 and a beta of 0.97. The business has a 50-day simple moving average of $47.52 and a two-hundred day simple moving average of $55.74.

BlackLine (NASDAQ:BL) last issued its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.29). BlackLine had a net margin of 24.67% and a return on equity of 21.63%. As a group, equities analysts expect that BlackLine, Inc. will post 0.9 EPS for the current fiscal year.

BlackLine Profile

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.