UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $6.57 Million Stock Position in BlackLine, Inc. (NASDAQ:BL)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of BlackLine, Inc. (NASDAQ:BL) by 0.6% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 119,072 shares of the technology company’s stock after buying an additional 753 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.19% of BlackLine worth $6,566,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC grew its position in shares of 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 in the last quarter. Conestoga Capital Advisors LLC raised its stake in BlackLine by 24.9% during the third quarter. Conestoga Capital Advisors LLC now owns 1,759,098 shares of the technology company’s stock worth $96,997,000 after buying an additional 350,143 shares during the last quarter. Geneva Capital Management LLC raised its stake in BlackLine by 2.8% during the third quarter. Geneva Capital Management LLC now owns 895,810 shares of the technology company’s stock worth $49,395,000 after buying an additional 24,446 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in BlackLine by 65.4% in the second quarter. Dimensional Fund Advisors LP now owns 579,481 shares of the technology company’s stock worth $28,076,000 after purchasing an additional 229,151 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in BlackLine by 4.2% in the third 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 period. Institutional investors and hedge funds own 95.13% of the company’s stock.

Insider Activity

In other BlackLine news, CFO Mark Partin sold 85,308 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $54.84, for a total value of $4,678,290.72. Following the completion of the sale, the chief financial officer now owns 226,844 shares in the company, valued at $12,440,124.96. This represents a 27.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Karole Morgan-Prager sold 10,000 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $55.00, for a total value of $550,000.00. Following the completion of the transaction, the insider now directly owns 113,865 shares of the company’s stock, valued at approximately $6,262,575. This trade represents a 8.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 134,108 shares of company stock valued at $7,488,826 in the last 90 days. 9.53% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on BL shares. JMP Securities lifted their price objective on shares of BlackLine from $81.00 to $86.00 and gave the company a “market outperform” rating in a report on Friday, November 22nd. Truist Financial boosted their price target on shares of BlackLine from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Morgan Stanley boosted their price objective on shares of BlackLine from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. JPMorgan Chase & Co. boosted their price target on shares of BlackLine from $47.00 to $50.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $60.00 price objective on shares of BlackLine in a research note on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, BlackLine has an average rating of “Hold” and an average target price of $64.10.

BlackLine Stock Performance

Shares of BL stock opened at $63.33 on Wednesday. BlackLine, Inc. has a one year low of $43.37 and a one year high of $69.31. The company’s 50-day moving average is $58.87 and its 200 day moving average is $52.22. The company has a market capitalization of $3.96 billion, a price-to-earnings ratio of 64.62, a price-to-earnings-growth ratio of 15.08 and a beta of 0.90. The company has a debt-to-equity ratio of 2.42, a quick ratio of 2.69 and a current ratio of 2.69.

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.