BlackLine, Inc. (NASDAQ:BL) Holdings Raised by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC boosted its stake in shares of BlackLine, Inc. (NASDAQ:BL) by 1,081.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 90,175 shares of the technology company’s stock after buying an additional 82,542 shares during the period. Cubist Systematic Strategies LLC owned about 0.15% of BlackLine worth $4,369,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BL. TFO Wealth Partners LLC lifted its holdings in shares of BlackLine by 9,080.0% in the fourth quarter. TFO Wealth Partners LLC now owns 459 shares of the technology company’s stock valued at $312,000 after purchasing an additional 454 shares in the last quarter. YHB Investment Advisors Inc. purchased a new stake in BlackLine in the 1st quarter worth about $33,000. EntryPoint Capital LLC purchased a new position in BlackLine during the 1st quarter valued at about $36,000. 1620 Investment Advisors Inc. acquired a new position in shares of BlackLine in the 2nd quarter valued at about $64,000. Finally, Covestor Ltd increased its holdings in shares of BlackLine by 29.4% in the 1st quarter. Covestor Ltd now owns 1,495 shares of the technology company’s stock valued at $97,000 after purchasing an additional 340 shares during the period. 95.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on BL shares. Citigroup lowered their price objective on shares of BlackLine from $62.00 to $54.00 and set a “neutral” rating on the stock in a research report on Friday, June 28th. Truist Financial dropped their price target on shares of BlackLine from $60.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. Piper Sandler reduced their price objective on BlackLine from $55.00 to $51.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Robert W. Baird dropped their target price on BlackLine from $72.00 to $65.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Finally, JMP Securities reiterated a “market outperform” rating and set a $81.00 price target on shares of BlackLine in a report on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $58.78.

BlackLine Stock Up 1.1 %

BL opened at $52.85 on Friday. The firm has a market cap of $3.27 billion, a P/E ratio of 229.78, a price-to-earnings-growth ratio of 12.80 and a beta of 0.89. The company has a debt-to-equity ratio of 2.74, a quick ratio of 1.95 and a current ratio of 1.95. The business has a 50 day moving average price of $49.50 and a 200 day moving average price of $53.14. BlackLine, Inc. has a twelve month low of $43.37 and a twelve month high of $69.31.

BlackLine (NASDAQ:BL) last posted its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.08. The business had revenue of $160.51 million during the quarter, compared to the consensus estimate of $158.21 million. BlackLine had a net margin of 19.46% and a return on equity of 33.96%. BlackLine’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.69) EPS. Research analysts forecast that BlackLine, Inc. will post 0.94 EPS for the current year.

Insider Buying and Selling

In other news, insider Karole Morgan-Prager sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $50.00, for a total value of $500,000.00. Following the completion of the sale, the insider now directly owns 115,424 shares of the company’s stock, valued at $5,771,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CRO Mark Woodhams sold 1,387 shares of BlackLine stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $51.70, for a total transaction of $71,707.90. Following the sale, the executive now directly owns 97,582 shares of the company’s stock, valued at $5,044,989.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Karole Morgan-Prager sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $50.00, for a total value of $500,000.00. Following the completion of the transaction, the insider now directly owns 115,424 shares of the company’s stock, valued at approximately $5,771,200. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,765 shares of company stock valued at $851,418. Insiders own 9.93% of the company’s stock.

BlackLine 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.