2,511 Shares in BlackLine, Inc. (NASDAQ:BL) Purchased by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC bought a new stake in BlackLine, Inc. (NASDAQ:BL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,511 shares of the technology company’s stock, valued at approximately $153,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its position in shares of BlackLine by 13.6% in the third quarter. Principal Financial Group Inc. now owns 290,775 shares of the technology company’s stock valued at $16,033,000 after buying an additional 34,919 shares during the last quarter. Weiss Asset Management LP acquired a new position in BlackLine in the 3rd quarter valued at $1,506,000. Charles Schwab Investment Management Inc. lifted its stake in shares of BlackLine by 4.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 495,222 shares of the technology company’s stock worth $27,307,000 after purchasing an additional 20,027 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of BlackLine by 35.3% during the third quarter. JPMorgan Chase & Co. now owns 1,666,591 shares of the technology company’s stock worth $91,896,000 after purchasing an additional 435,271 shares during the last quarter. Finally, Conestoga Capital Advisors LLC grew its position in shares of BlackLine by 20.2% in the fourth quarter. Conestoga Capital Advisors LLC now owns 2,113,882 shares of the technology company’s stock valued at $128,439,000 after purchasing an additional 354,784 shares during the period. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

BlackLine Price Performance

BL stock opened at $49.44 on Thursday. The firm has a market cap of $3.11 billion, a P/E ratio of 34.10, a price-to-earnings-growth ratio of 10.80 and a beta of 1.03. 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 1 year low of $43.37 and a 1 year high of $69.09. The stock has a 50-day simple moving average of $53.40 and a 200-day simple moving average of $56.80.

BlackLine (NASDAQ:BL) last issued its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.29). BlackLine had a net margin of 24.67% and a return on equity of 21.63%. On average, equities analysts predict that BlackLine, Inc. will post 0.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BL. DA Davidson initiated coverage on BlackLine in a research note on Tuesday. They issued a “buy” rating and a $58.00 price target on the stock. Citigroup lowered their target price on shares of BlackLine from $73.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. JMP Securities reaffirmed a “market outperform” rating and set a $86.00 price target on shares of BlackLine in a research note on Wednesday, January 15th. StockNews.com cut shares of BlackLine from a “buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Finally, Piper Sandler cut their target price on BlackLine from $60.00 to $58.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $65.64.

Insiders Place Their Bets

In other BlackLine news, CRO Mark Woodhams sold 9,088 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $49.67, for a total transaction of $451,400.96. Following the completion of the sale, the executive now owns 65,414 shares in the company, valued at $3,249,113.38. This trade represents a 12.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 9.93% of the stock is currently owned by company insiders.

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.