Quadrature Capital Ltd Acquires 2,140 Shares of BlackLine, Inc. (NASDAQ:BL)

Quadrature Capital Ltd increased its holdings in BlackLine, Inc. (NASDAQ:BL) by 42.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,133 shares of the technology company’s stock after purchasing an additional 2,140 shares during the period. Quadrature Capital Ltd’s holdings in BlackLine were worth $445,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in BlackLine by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 6,738,189 shares of the technology company’s stock worth $420,733,000 after acquiring an additional 79,649 shares during the last quarter. Brown Advisory Inc. lifted its position in BlackLine by 2.5% during the 4th quarter. Brown Advisory Inc. now owns 1,899,804 shares of the technology company’s stock worth $118,624,000 after acquiring an additional 45,950 shares during the last quarter. Conestoga Capital Advisors LLC lifted its position in BlackLine by 3.5% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,414,835 shares of the technology company’s stock worth $88,342,000 after acquiring an additional 47,420 shares during the last quarter. Meritage Group LP acquired a new position in BlackLine during the 3rd quarter worth $59,530,000. Finally, Northern Trust Corp lifted its position in BlackLine by 16.7% during the 3rd quarter. Northern Trust Corp now owns 787,289 shares of the technology company’s stock worth $43,671,000 after acquiring an additional 112,684 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Jimmy C. Duan acquired 2,000 shares of the firm’s stock in a transaction on Friday, May 31st. The shares were purchased at an average cost of $47.73 per share, with a total value of $95,460.00. Following the completion of the purchase, the insider now owns 50,360 shares of the company’s stock, valued at $2,403,682.80. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Jimmy C. Duan purchased 2,000 shares of the firm’s stock in a transaction dated Friday, May 31st. The shares were acquired at an average cost of $47.73 per share, with a total value of $95,460.00. Following the completion of the purchase, the insider now directly owns 50,360 shares of the company’s stock, valued at $2,403,682.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Owen Ryan purchased 3,000 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were bought at an average cost of $49.88 per share, for a total transaction of $149,640.00. Following the completion of the purchase, the chief executive officer now directly owns 145,948 shares of the company’s stock, valued at $7,279,886.24. The disclosure for this purchase can be found here. Insiders own 9.93% of the company’s stock.

BlackLine Price Performance

Shares of BlackLine stock opened at $45.84 on Monday. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 4.08. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 199.30, a P/E/G ratio of 5.17 and a beta of 0.86. BlackLine, Inc. has a 1-year low of $43.79 and a 1-year high of $69.31. The firm’s 50-day moving average price is $53.49 and its two-hundred day moving average price is $58.62.

BlackLine (NASDAQ:BL) last issued its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.10. The firm had revenue of $157.46 million for the quarter, compared to analysts’ expectations of $155.05 million. BlackLine had a net margin of 2.30% and a return on equity of 9.07%. On average, equities analysts predict that BlackLine, Inc. will post 1.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BL shares. Citigroup cut their price objective on shares of BlackLine from $66.00 to $63.00 and set a “neutral” rating for the company in a research report on Tuesday, April 23rd. William Blair raised shares of BlackLine to a “hold” rating in a research report on Tuesday, May 7th. Wolfe Research started coverage on shares of BlackLine in a research report on Monday, March 18th. They set a “peer perform” rating for the company. Piper Sandler raised shares of BlackLine from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $55.00 to $62.00 in a research report on Tuesday, April 23rd. Finally, BMO Capital Markets upped their price objective on shares of BlackLine from $65.00 to $67.00 and gave the company a “market perform” rating in a research report on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $64.56.

BlackLine Company Profile

BlackLine, Inc provides cloud-based solutions to automate and streamline accounting and finance operations worldwide. It offers financial close management solutions, such as account reconciliations that provides a centralized workspace for users to collaborate on account reconciliations; transaction matching that analyzes and reconciles individual transactions; task management to create and manage processes and task lists; and financial reporting analytics that enables analysis and validation of financial data.