PEAK6 Investments LLC Increases Stock Holdings in BlackLine, Inc. (NASDAQ:BL)

PEAK6 Investments LLC increased its holdings in BlackLine, Inc. (NASDAQ:BL) by 385.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,484 shares of the technology company’s stock after buying an additional 47,233 shares during the period. PEAK6 Investments LLC’s holdings in BlackLine were worth $3,714,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. CWM LLC raised its position in BlackLine by 94.8% during the fourth quarter. CWM LLC now owns 452 shares of the technology company’s stock worth $28,000 after acquiring an additional 220 shares during the last quarter. CVA Family Office LLC acquired a new position in shares of BlackLine during the 4th quarter worth approximately $38,000. Federated Hermes Inc. lifted its stake in BlackLine by 505.2% in the 3rd quarter. Federated Hermes Inc. now owns 926 shares of the technology company’s stock valued at $51,000 after buying an additional 773 shares in the last quarter. Operose Advisors LLC increased its position in BlackLine by 291.2% during the third quarter. Operose Advisors LLC now owns 978 shares of the technology company’s stock worth $54,000 after buying an additional 728 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of BlackLine in the third quarter worth $79,000. 95.13% of the stock is owned by institutional investors and hedge funds.

BlackLine Trading Down 2.4 %

Shares of NASDAQ:BL traded down $1.13 during trading on Friday, reaching $46.01. 826,709 shares of the stock were exchanged, compared to its average volume of 1,244,201. The firm’s 50-day moving average price is $57.26 and its 200 day moving average price is $59.51. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of 200.04, a price-to-earnings-growth ratio of 5.43 and a beta of 0.86. BlackLine, Inc. has a 12-month low of $45.63 and a 12-month high of $69.31. The company has a debt-to-equity ratio of 4.08, a quick ratio of 2.30 and a current ratio of 2.30.

BlackLine (NASDAQ:BL) last released its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.10. The company had revenue of $157.46 million during the quarter, compared to analyst estimates of $155.05 million. BlackLine had a net margin of 2.30% and a return on equity of 9.07%. On average, sell-side analysts anticipate that BlackLine, Inc. will post 1.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BL. Wolfe Research assumed coverage on BlackLine in a research note on Monday, March 18th. They set a “peer perform” rating on the stock. JPMorgan Chase & Co. cut their price objective on shares of BlackLine from $55.00 to $52.00 and set an “underweight” rating for the company in a research report on Wednesday, February 14th. William Blair upgraded shares of BlackLine to a “hold” rating in a research report on Tuesday, May 7th. BMO Capital Markets lifted their target price on shares of BlackLine from $65.00 to $67.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 8th. Finally, Citigroup reduced their price target on BlackLine from $66.00 to $63.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 23rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $64.56.

Insider Transactions at BlackLine

In related news, CRO Mark Woodhams sold 2,877 shares of BlackLine stock in a transaction 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 owns 104,682 shares of the company’s stock, valued at approximately $6,071,556. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other BlackLine news, CRO Mark Woodhams sold 2,877 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive now directly owns 104,682 shares of the company’s stock, valued at approximately $6,071,556. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jimmy C. Duan acquired 2,000 shares of the stock in a transaction that occurred on Friday, May 31st. The stock was purchased at an average cost of $47.73 per share, with a total value of $95,460.00. Following the completion of the acquisition, the insider now owns 50,360 shares of the company’s stock, valued at $2,403,682.80. The disclosure for this purchase can be found here. Company insiders own 9.93% of the company’s stock.

BlackLine Company 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.