Xponance Inc. Makes New $215,000 Investment in BlackLine, Inc. (NASDAQ:BL)

Xponance Inc. acquired a new stake in BlackLine, Inc. (NASDAQ:BL) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 3,441 shares of the technology company’s stock, valued at approximately $215,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BL. Meritage Group LP acquired a new position in shares of BlackLine in the 3rd quarter valued at about $59,530,000. UBS Group AG lifted its stake in shares of BlackLine by 855.5% in the 3rd quarter. UBS Group AG now owns 657,004 shares of the technology company’s stock valued at $36,444,000 after purchasing an additional 588,245 shares during the period. Hawk Ridge Capital Management LP bought a new stake in BlackLine in the 3rd quarter valued at about $21,853,000. Vanguard Group Inc. increased its position in BlackLine by 6.1% in the 3rd quarter. Vanguard Group Inc. now owns 6,658,540 shares of the technology company’s stock valued at $369,349,000 after buying an additional 380,614 shares in the last quarter. Finally, Great Lakes Advisors LLC bought a new stake in BlackLine in the 3rd quarter valued at about $13,130,000. 95.13% of the stock is owned by institutional investors and hedge funds.

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 value of $258,750.00. Following the transaction, the director now owns 11,000 shares in the company, valued at approximately $632,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Kevin B. Thompson sold 4,500 shares of the company’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 value of $258,750.00. Following the transaction, the director now owns 11,000 shares in the company, valued at $632,500. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas Unterman sold 750 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $60.00, for a total value of $45,000.00. Following the completion of the transaction, the director now owns 51,470 shares in the company, valued at approximately $3,088,200. The disclosure for this sale can be found here. Company insiders own 9.93% of the company’s stock.

BlackLine Stock Performance

Shares of BL opened at $60.83 on Friday. The company has a debt-to-equity ratio of 4.37, a quick ratio of 2.19 and a current ratio of 2.19. The stock has a 50 day moving average price of $62.10 and a two-hundred day moving average price of $59.34. The firm has a market capitalization of $3.76 billion, a P/E ratio of -608.30, a P/E/G ratio of 10.46 and a beta of 0.86. BlackLine, Inc. has a 52 week low of $47.26 and a 52 week high of $69.31.

BlackLine (NASDAQ:BL) last announced its earnings results on Tuesday, February 13th. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.28. BlackLine had a positive return on equity of 2.15% and a negative net margin of 1.50%. The firm had revenue of $155.73 million for the quarter, compared to the consensus estimate of $154.24 million. Equities analysts forecast that BlackLine, Inc. will post 1.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Citigroup decreased their target price on BlackLine from $66.00 to $63.00 and set a “neutral” rating for the company in a research report on Tuesday, April 23rd. Wolfe Research assumed coverage on BlackLine in a research report on Monday, March 18th. They issued a “peer perform” rating for the company. William Blair lowered BlackLine from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 14th. JPMorgan Chase & Co. decreased their target price on BlackLine from $55.00 to $52.00 and set an “underweight” rating for the company in a research report on Wednesday, February 14th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $81.00 target price on shares of BlackLine in a research report on Wednesday, February 14th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, BlackLine presently has an average rating of “Hold” and a consensus target price of $62.20.

BlackLine 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.