Smartleaf Asset Management LLC Acquires 1,692 Shares of BlackLine, Inc. (NASDAQ:BL)

Smartleaf Asset Management LLC boosted its holdings in shares of BlackLine, Inc. (NASDAQ:BL) by 167.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,702 shares of the technology company’s stock after purchasing an additional 1,692 shares during the period. Smartleaf Asset Management LLC’s holdings in BlackLine were worth $163,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its stake in 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 period. Louisiana State Employees Retirement System increased its holdings in shares of BlackLine by 0.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 25,100 shares of the technology company’s stock worth $1,525,000 after buying an additional 200 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of BlackLine by 19.8% during the fourth quarter. Asset Management One Co. Ltd. now owns 1,266 shares of the technology company’s stock worth $77,000 after buying an additional 209 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of BlackLine by 1.6% during the third quarter. Tidal Investments LLC now owns 13,539 shares of the technology company’s stock worth $747,000 after buying an additional 219 shares in the last quarter. Finally, Covestor Ltd increased its holdings in shares of BlackLine by 31.9% during the third quarter. Covestor Ltd now owns 1,392 shares of the technology company’s stock worth $77,000 after buying an additional 337 shares in the last quarter. Institutional investors own 95.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BL shares. BMO Capital Markets dropped their price objective on shares of BlackLine from $68.00 to $60.00 and set a “market perform” rating for the company in a report on Wednesday, February 12th. StockNews.com lowered shares of BlackLine from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th. JMP Securities reaffirmed a “market outperform” rating and set a $86.00 price objective on shares of BlackLine in a report on Wednesday, January 15th. Truist Financial dropped their price objective on shares of BlackLine from $60.00 to $55.00 and set a “hold” rating for the company in a report on Wednesday, February 12th. Finally, Bank of America raised shares of BlackLine from an “underperform” rating to a “buy” rating and raised their price target for the company from $50.00 to $75.00 in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $66.40.

Insiders Place Their Bets

In other news, CRO Mark Woodhams sold 9,088 shares of BlackLine stock in a transaction on Friday, February 21st. The shares were sold at an average price of $49.67, for a total transaction of $451,400.96. Following the transaction, the executive now directly owns 65,414 shares of the company’s stock, valued at $3,249,113.38. This trade represents a 12.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 9.53% of the company’s stock.

BlackLine Price Performance

BL opened at $48.87 on Friday. The company has a fifty day moving average price of $57.16 and a two-hundred day moving average price of $56.78. 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 $43.37 and a 52 week high of $69.31. The firm has a market capitalization of $3.07 billion, a PE ratio of 33.70, a P/E/G ratio of 10.80 and a beta of 1.03.

BlackLine (NASDAQ:BL) last released its earnings results 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 return on equity of 21.63% and a net margin of 24.67%. As a group, analysts anticipate that BlackLine, Inc. will post 0.9 earnings per share for the current year.

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.