Raymond James Financial Inc. Takes Position in BlackLine, Inc. (NASDAQ:BL)

Raymond James Financial Inc. purchased a new position in shares of BlackLine, Inc. (NASDAQ:BL) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 391,208 shares of the technology company’s stock, valued at approximately $23,770,000.

Other large investors have also modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in shares of BlackLine during the fourth quarter worth about $31,000. Global Retirement Partners LLC lifted its position in shares of BlackLine by 568.4% during the fourth quarter. Global Retirement Partners LLC now owns 528 shares of the technology company’s stock worth $32,000 after purchasing an additional 449 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of BlackLine by 41.2% during the fourth quarter. GAMMA Investing LLC now owns 634 shares of the technology company’s stock worth $39,000 after purchasing an additional 185 shares during the last quarter. Asset Management One Co. Ltd. lifted its holdings in BlackLine by 19.8% in the fourth quarter. Asset Management One Co. Ltd. now owns 1,266 shares of the technology company’s stock worth $77,000 after acquiring an additional 209 shares during the last quarter. Finally, KBC Group NV lifted its holdings in BlackLine by 44.0% in the fourth quarter. KBC Group NV now owns 2,180 shares of the technology company’s stock worth $132,000 after acquiring an additional 666 shares during the last quarter. Institutional investors own 95.13% of the company’s stock.

BlackLine Price Performance

NASDAQ BL opened at $49.89 on Friday. BlackLine, Inc. has a 12 month low of $43.37 and a 12 month high of $69.09. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.59 and a quick ratio of 2.69. The firm has a market capitalization of $3.13 billion, a PE ratio of 34.41, a P/E/G ratio of 10.80 and a beta of 1.03. The company’s 50 day simple moving average is $55.68 and its 200 day simple moving average is $56.73.

BlackLine (NASDAQ:BL) last posted its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.21 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 research analysts forecast that BlackLine, Inc. will post 0.9 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on BL shares. Piper Sandler cut their target price on shares of BlackLine from $60.00 to $58.00 and set an “underweight” rating on the stock in a report on Wednesday, February 12th. JMP Securities reissued a “market outperform” rating and issued a $86.00 target price on shares of BlackLine in a report on Wednesday, January 15th. BMO Capital Markets cut their target price 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. Bank of America raised shares of BlackLine from an “underperform” rating to a “buy” rating and raised their target price for the stock from $50.00 to $75.00 in a report on Thursday, January 30th. Finally, StockNews.com cut shares of BlackLine from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, BlackLine has an average rating of “Hold” and a consensus target price of $66.40.

Insider Activity at BlackLine

In other BlackLine news, CRO Mark Woodhams sold 9,088 shares of BlackLine stock in a transaction that occurred 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 transaction, the executive now owns 65,414 shares in the company, valued at approximately $3,249,113.38. The trade was a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 9.93% of the company’s stock.

BlackLine Company 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.