4,335 Shares in BlackLine, Inc. (NASDAQ:BL) Bought by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. purchased a new position in BlackLine, Inc. (NASDAQ:BL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,335 shares of the technology company’s stock, valued at approximately $263,000.

A number of other institutional investors also recently modified their holdings of BL. GAMMA Investing LLC increased its holdings in shares of BlackLine by 41.2% during the fourth quarter. GAMMA Investing LLC now owns 634 shares of the technology company’s stock valued at $39,000 after acquiring an additional 185 shares in the last quarter. Covestor Ltd grew its holdings in BlackLine by 31.9% during the third quarter. Covestor Ltd now owns 1,392 shares of the technology company’s stock worth $77,000 after buying an additional 337 shares in the last quarter. KBC Group NV raised its holdings in shares of BlackLine by 44.0% in the fourth quarter. KBC Group NV now owns 2,180 shares of the technology company’s stock valued at $132,000 after purchasing an additional 666 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of BlackLine during the second quarter valued at about $220,000. Finally, Hardy Reed LLC bought a new position in shares of BlackLine in the third quarter valued at approximately $244,000. 95.13% of the stock is owned by institutional investors.

Insider Transactions at BlackLine

In related news, CRO Mark Woodhams sold 24,408 shares of BlackLine stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $64.32, for a total value of $1,569,922.56. Following the completion of the sale, the executive now directly owns 72,920 shares in the company, valued at approximately $4,690,214.40. This trade represents a 25.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.93% of the stock is owned by insiders.

BlackLine Trading Up 0.6 %

NASDAQ:BL opened at $52.26 on Friday. BlackLine, Inc. has a 12 month low of $43.37 and a 12 month high of $69.31. The company has a 50-day moving average price of $61.62 and a 200-day moving average price of $56.77. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 2.42. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 53.33, a P/E/G ratio of 9.14 and a beta of 0.92.

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 19.83% and a return on equity of 31.02%. Equities analysts predict that BlackLine, Inc. will post 1 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on BL. Morgan Stanley upped their price objective on BlackLine from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. BMO Capital Markets dropped their price objective on BlackLine from $68.00 to $60.00 and set a “market perform” rating on the stock in a report on Wednesday. Truist Financial cut their price target on shares of BlackLine from $60.00 to $55.00 and set a “hold” rating for the company in a report on Wednesday. StockNews.com raised shares of BlackLine from a “hold” rating to a “buy” rating in a report on Thursday. Finally, JMP Securities reissued a “market outperform” rating and set a $86.00 price target on shares of BlackLine in a research note on Wednesday, January 15th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, BlackLine currently has a consensus rating of “Hold” and an average price target of $66.40.

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.