101,439 Shares in BlackLine, Inc. (NASDAQ:BL) Bought by WINTON GROUP Ltd

WINTON GROUP Ltd acquired a new stake in BlackLine, Inc. (NASDAQ:BL) in the 4th quarter, Holdings Channel reports. The fund acquired 101,439 shares of the technology company’s stock, valued at approximately $6,163,000.

Other hedge funds also recently made changes to their positions in the company. Thrivent Financial for Lutherans boosted its holdings in shares of BlackLine by 4.8% in the third quarter. Thrivent Financial for Lutherans now owns 44,639 shares of the technology company’s stock valued at $2,462,000 after acquiring an additional 2,046 shares during the period. Intech Investment Management LLC acquired a new stake in BlackLine during the 3rd quarter worth $818,000. Charles Schwab Investment Management Inc. grew its position in 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 last quarter. FMR LLC grew its position in BlackLine by 1.3% during the 3rd quarter. FMR LLC now owns 5,153,275 shares of the technology company’s stock worth $284,152,000 after purchasing an additional 64,435 shares during the last quarter. Finally, Hardy Reed LLC purchased a new stake in shares of BlackLine in the third quarter valued at about $244,000. Hedge funds and other institutional investors own 95.13% of the company’s stock.

BlackLine Stock Down 0.3 %

BL stock opened at $50.52 on Thursday. The company has a current ratio of 2.59, a quick ratio of 2.69 and a debt-to-equity ratio of 2.00. The company’s 50-day moving average price is $54.49 and its 200 day moving average price is $56.79. BlackLine, Inc. has a 52 week low of $43.37 and a 52 week high of $69.09. The company has a market cap of $3.17 billion, a P/E ratio of 34.84, a P/E/G ratio of 10.80 and a beta of 1.03.

BlackLine (NASDAQ:BL) last announced its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.21 EPS 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%. On average, research analysts expect that BlackLine, Inc. will post 0.9 earnings per share for the current fiscal year.

Insider Buying and Selling at BlackLine

In other BlackLine news, CRO Mark Woodhams sold 9,088 shares of BlackLine stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $49.67, for a total transaction of $451,400.96. Following the completion of the transaction, the executive now owns 65,414 shares in the company, valued at approximately $3,249,113.38. The trade was a 12.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 9.93% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BL. Citigroup lowered their price target on BlackLine from $73.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. BMO Capital Markets lowered their target price on BlackLine from $68.00 to $60.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 12th. StockNews.com cut BlackLine from a “buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Piper Sandler lowered their price objective on shares of BlackLine from $60.00 to $58.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 12th. Finally, JMP Securities restated a “market outperform” rating and set a $86.00 price objective on shares of BlackLine in a research report on Wednesday, January 15th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, BlackLine has a consensus rating of “Hold” and an average price target of $66.40.

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.