UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 38,463 Shares of BlackLine, Inc. (NASDAQ:BL)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of BlackLine, Inc. (NASDAQ:BL) by 32.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 157,535 shares of the technology company’s stock after purchasing an additional 38,463 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in BlackLine were worth $9,572,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in BL. SBI Securities Co. Ltd. bought a new position in shares of BlackLine during the fourth quarter worth approximately $31,000. Global Retirement Partners LLC increased its stake in BlackLine by 568.4% in the fourth quarter. Global Retirement Partners LLC now owns 528 shares of the technology company’s stock valued at $32,000 after acquiring an additional 449 shares during the last quarter. Quadrant Capital Group LLC increased its stake in BlackLine by 243.5% in the fourth quarter. Quadrant Capital Group LLC now owns 584 shares of the technology company’s stock valued at $35,000 after acquiring an additional 414 shares during the last quarter. Headlands Technologies LLC bought a new position in BlackLine in the fourth quarter valued at approximately $50,000. Finally, Huntington National Bank increased its stake in BlackLine by 596.4% in the fourth quarter. Huntington National Bank now owns 968 shares of the technology company’s stock valued at $59,000 after acquiring an additional 829 shares during the last quarter. 95.13% of the stock is owned by institutional investors.

Insider Transactions at BlackLine

In other news, CRO Mark Woodhams sold 1,856 shares of BlackLine stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $54.65, for a total transaction of $101,430.40. Following the transaction, the executive now owns 61,390 shares in the company, valued at approximately $3,354,963.50. The trade was a 2.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Michelle D. Stalick sold 795 shares of BlackLine stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $55.14, for a total transaction of $43,836.30. Following the transaction, the chief accounting officer now owns 25,235 shares in the company, valued at approximately $1,391,457.90. This trade represents a 3.05% decrease in their position. The disclosure for this sale can be found here. 8.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

BL has been the topic of a number of recent analyst reports. Wall Street Zen cut shares of BlackLine from a “buy” rating to a “hold” rating in a research note on Thursday, May 15th. Truist Financial lifted their price objective on shares of BlackLine from $40.00 to $45.00 and gave the company a “hold” rating in a research note on Thursday, May 8th. Piper Sandler lifted their price objective on shares of BlackLine from $46.00 to $50.00 and gave the company a “neutral” rating in a research note on Wednesday, May 7th. The Goldman Sachs Group cut their target price on shares of BlackLine from $51.00 to $43.00 and set a “sell” rating on the stock in a research report on Thursday, April 17th. Finally, DA Davidson cut their target price on shares of BlackLine from $58.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, BlackLine has a consensus rating of “Hold” and a consensus target price of $60.75.

BlackLine Price Performance

Shares of NASDAQ:BL opened at $55.32 on Friday. The firm has a market cap of $3.45 billion, a PE ratio of 38.15, a price-to-earnings-growth ratio of 10.80 and a beta of 0.94. The firm’s fifty day moving average is $49.22 and its 200-day moving average is $54.81. The company has a debt-to-equity ratio of 2.00, a quick ratio of 2.69 and a current ratio of 2.59. BlackLine, Inc. has a 52 week low of $40.82 and a 52 week high of $66.25.

About BlackLine

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.