Hel Ved Capital Management Ltd Purchases New Position in BlackLine, Inc. (NASDAQ:BL)

Hel Ved Capital Management Ltd acquired 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 SEC. The institutional investor acquired 45,030 shares of the technology company’s stock, valued at approximately $2,736,000.

Other hedge funds have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of BlackLine by 0.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 119,072 shares of the technology company’s stock valued at $6,566,000 after acquiring an additional 753 shares during the last quarter. Centiva Capital LP bought a new position in BlackLine in the third quarter valued at about $336,000. Point72 Asset Management L.P. boosted its stake in shares of BlackLine by 63.0% during the third quarter. Point72 Asset Management L.P. now owns 317,991 shares of the technology company’s stock valued at $17,534,000 after purchasing an additional 122,849 shares in the last quarter. Weiss Asset Management LP bought a new stake in shares of BlackLine during the third quarter worth about $1,506,000. Finally, XTX Topco Ltd acquired a new position in shares of BlackLine in the third quarter valued at approximately $1,099,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

Insider Buying and Selling at BlackLine

In other BlackLine news, CRO Mark Woodhams sold 9,088 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $49.67, for a total value of $451,400.96. Following the transaction, the executive now directly owns 65,414 shares of the company’s stock, valued at approximately $3,249,113.38. This trade represents a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 9.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BL shares. StockNews.com downgraded shares of BlackLine from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Truist Financial reduced their price objective on shares of BlackLine from $60.00 to $55.00 and set a “hold” rating on the stock in a research note on Wednesday, February 12th. JMP Securities reaffirmed a “market outperform” rating and set a $86.00 target price on shares of BlackLine in a research report on Wednesday, January 15th. DA Davidson started coverage on BlackLine in a research report on Tuesday. They issued a “buy” rating and a $58.00 price target on the stock. Finally, Piper Sandler cut their price objective on BlackLine from $60.00 to $58.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, BlackLine currently has a consensus rating of “Hold” and a consensus target price of $65.64.

BlackLine Stock Down 4.3 %

BlackLine stock opened at $44.10 on Friday. The company has a quick ratio of 2.69, a current ratio of 2.59 and a debt-to-equity ratio of 2.00. The company has a market capitalization of $2.78 billion, a PE ratio of 30.41, a PEG ratio of 10.80 and a beta of 0.97. The firm’s fifty day moving average is $52.79 and its 200 day moving average is $56.69. BlackLine, Inc. has a 12-month low of $43.02 and a 12-month high of $69.09.

BlackLine (NASDAQ:BL) last issued its 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 net margin of 24.67% and a return on equity of 21.63%. As a group, sell-side analysts predict that BlackLine, Inc. will post 0.9 EPS for the current fiscal 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.