Olympiad Research LP Invests $202,000 in BlackLine, Inc. (NASDAQ:BL)

Olympiad Research LP bought a new position in BlackLine, Inc. (NASDAQ:BL) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 3,323 shares of the technology company’s stock, valued at approximately $202,000.

Other large investors also recently modified their holdings of the company. Global Retirement Partners LLC lifted its holdings in shares of BlackLine by 568.4% in the 4th quarter. Global Retirement Partners LLC now owns 528 shares of the technology company’s stock worth $32,000 after purchasing an additional 449 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of BlackLine by 41.2% in the 4th quarter. GAMMA Investing LLC now owns 634 shares of the technology company’s stock worth $39,000 after purchasing an additional 185 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of BlackLine by 19.8% in the 4th quarter. Asset Management One Co. Ltd. now owns 1,266 shares of the technology company’s stock worth $77,000 after purchasing an additional 209 shares in the last quarter. Covestor Ltd lifted its holdings in shares of BlackLine by 31.9% in the 3rd quarter. Covestor Ltd now owns 1,392 shares of the technology company’s stock worth $77,000 after purchasing an additional 337 shares in the last quarter. Finally, KBC Group NV lifted its stake in BlackLine by 44.0% during the 4th quarter. KBC Group NV now owns 2,180 shares of the technology company’s stock valued at $132,000 after acquiring an additional 666 shares in the last quarter. 95.13% of the stock is currently owned by institutional investors.

BlackLine Trading Down 0.3 %

NASDAQ BL opened at $49.17 on Monday. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of 33.91, a PEG ratio of 10.50 and a beta of 0.92. BlackLine, Inc. has a one year low of $43.37 and a one year high of $69.31. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.59 and a quick ratio of 2.69. The business’s fifty day moving average is $59.77 and its 200-day moving average is $57.05.

BlackLine (NASDAQ:BL) last announced its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.29). BlackLine had a return on equity of 21.63% and a net margin of 24.67%. Equities research analysts predict that BlackLine, Inc. will post 0.93 EPS for the current year.

Wall Street Analysts Forecast Growth

BL has been the topic of several recent analyst reports. StockNews.com upgraded BlackLine from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. JMP Securities restated a “market outperform” rating and set a $86.00 price objective on shares of BlackLine in a research note on Wednesday, January 15th. Bank of America upgraded BlackLine from an “underperform” rating to a “buy” rating and raised their price objective for the company from $50.00 to $75.00 in a research note on Thursday, January 30th. Citigroup dropped their price objective on BlackLine from $73.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Finally, Morgan Stanley raised their price objective on BlackLine from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, BlackLine currently has a consensus rating of “Hold” and an average price target of $66.40.

Insider Buying and Selling

In related news, CRO Mark Woodhams sold 24,408 shares of BlackLine stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $64.32, for a total value of $1,569,922.56. Following the completion of the sale, the executive now owns 72,920 shares of the company’s stock, valued at approximately $4,690,214.40. This trade represents a 25.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 9.93% of the stock is currently owned by 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.