Los Angeles Capital Management LLC Has $3.65 Million Holdings in BlackLine, Inc. (NASDAQ:BL)

Los Angeles Capital Management LLC boosted its holdings in BlackLine, Inc. (NASDAQ:BL) by 44.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 58,476 shares of the technology company’s stock after purchasing an additional 18,014 shares during the quarter. Los Angeles Capital Management LLC’s holdings in BlackLine were worth $3,651,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. CWM LLC raised its holdings in shares of BlackLine by 94.8% in the 4th quarter. CWM LLC now owns 452 shares of the technology company’s stock worth $28,000 after purchasing an additional 220 shares during the period. CVA Family Office LLC purchased a new stake in BlackLine during the fourth quarter valued at about $38,000. Federated Hermes Inc. increased its stake in shares of BlackLine by 505.2% in the third quarter. Federated Hermes Inc. now owns 926 shares of the technology company’s stock worth $51,000 after purchasing an additional 773 shares in the last quarter. Operose Advisors LLC boosted its holdings in BlackLine by 291.2% in the 3rd quarter. Operose Advisors LLC now owns 978 shares of the technology company’s stock worth $54,000 after buying an additional 728 shares during the period. Finally, Cutler Group LLC CA purchased a new position in BlackLine in the 3rd quarter valued at approximately $74,000. Institutional investors own 95.13% of the company’s stock.

Insider Activity

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

BlackLine Trading Up 2.0 %

BL stock opened at $60.91 on Monday. The company has a market capitalization of $3.76 billion, a PE ratio of -609.10, a price-to-earnings-growth ratio of 10.82 and a beta of 0.87. The company has a debt-to-equity ratio of 4.37, a quick ratio of 2.19 and a current ratio of 2.19. BlackLine, Inc. has a one year low of $47.26 and a one year high of $69.31. The company’s 50 day moving average price is $62.35 and its two-hundred day moving average price is $59.54.

BlackLine (NASDAQ:BL) last issued its earnings results on Tuesday, February 13th. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.28. BlackLine had a negative net margin of 1.50% and a positive return on equity of 2.15%. The company had revenue of $155.73 million for the quarter, compared to analysts’ expectations of $154.24 million. As a group, analysts predict that BlackLine, Inc. will post 1.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BL has been the subject of a number of analyst reports. Wolfe Research assumed coverage on BlackLine in a report on Monday, March 18th. They issued a “peer perform” rating for the company. William Blair cut shares of BlackLine from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 14th. JMP Securities restated a “market outperform” rating and set a $81.00 price target on shares of BlackLine in a research report on Wednesday, February 14th. The Goldman Sachs Group lifted their price objective on BlackLine from $49.00 to $54.00 and gave the company a “sell” rating in a research note on Tuesday, January 23rd. Finally, Robert W. Baird lowered their price target on BlackLine from $65.00 to $61.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, BlackLine has a consensus rating of “Hold” and a consensus price target of $62.56.

About BlackLine

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.