44,143 Shares in BlackLine, Inc. (NASDAQ:BL) Purchased by Trexquant Investment LP

Trexquant Investment LP acquired a new stake in shares of BlackLine, Inc. (NASDAQ:BLFree Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 44,143 shares of the technology company’s stock, valued at approximately $2,756,000.

Several other institutional investors also recently modified their holdings of the stock. Meritage Group LP purchased a new stake in BlackLine in the 3rd quarter valued at about $59,530,000. UBS Group AG increased its position in shares of BlackLine by 855.5% in the third quarter. UBS Group AG now owns 657,004 shares of the technology company’s stock valued at $36,444,000 after acquiring an additional 588,245 shares during the period. Hawk Ridge Capital Management LP purchased a new position in shares of BlackLine in the third quarter valued at about $21,853,000. Vanguard Group Inc. increased its position in shares of BlackLine by 6.1% during the third 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 during the period. Finally, Norges Bank bought a new stake in BlackLine during the fourth quarter worth about $16,927,000. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at BlackLine

In other BlackLine news, CRO Mark Woodhams sold 2,877 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $58.00, for a total transaction of $166,866.00. Following the sale, the executive now directly owns 104,682 shares in the company, valued at approximately $6,071,556. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CRO Mark Woodhams sold 2,877 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $58.00, for a total value of $166,866.00. Following the transaction, the executive now directly owns 104,682 shares in the company, valued at $6,071,556. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kevin B. Thompson sold 4,500 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $57.50, for a total transaction of $258,750.00. Following the sale, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $632,500. The disclosure for this sale can be found here. Corporate insiders own 9.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BL. Citigroup reduced their target price on shares of BlackLine from $66.00 to $63.00 and set a “neutral” rating for the company in a report on Tuesday, April 23rd. William Blair upgraded shares of BlackLine to a “hold” rating in a report on Tuesday, May 7th. JPMorgan Chase & Co. decreased their price objective 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. Robert W. Baird boosted their price target on shares of BlackLine from $61.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. Finally, Wolfe Research initiated coverage on shares of BlackLine in a report on Monday, March 18th. They issued a “peer perform” rating for the company. 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.com, the stock currently has an average rating of “Hold” and an average target price of $64.56.

View Our Latest Analysis on BL

BlackLine Trading Down 1.9 %

Shares of BL stock traded down $0.98 during trading hours on Friday, reaching $49.64. 1,066,588 shares of the stock traded hands, compared to its average volume of 1,113,815. The company has a quick ratio of 2.30, a current ratio of 2.30 and a debt-to-equity ratio of 4.08. The firm has a market capitalization of $3.07 billion, a PE ratio of 215.83, a PEG ratio of 5.84 and a beta of 0.87. BlackLine, Inc. has a 1-year low of $47.26 and a 1-year high of $69.31. The business has a fifty day moving average price of $60.75 and a 200 day moving average price of $60.01.

BlackLine Profile

(Free Report)

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.

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Institutional Ownership by Quarter for BlackLine (NASDAQ:BL)

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