Charles Schwab Investment Management Inc. Grows Stock Holdings in BlackLine, Inc. (NASDAQ:BL)

Charles Schwab Investment Management Inc. raised its stake in BlackLine, Inc. (NASDAQ:BL) by 1.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 501,699 shares of the technology company’s stock after buying an additional 6,477 shares during the period. Charles Schwab Investment Management Inc. owned about 0.80% of BlackLine worth $30,483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. FMR LLC boosted its position in BlackLine by 1.3% in the 3rd quarter. FMR LLC now owns 5,153,275 shares of the technology company’s stock valued at $284,152,000 after buying an additional 64,435 shares during the period. Conestoga Capital Advisors LLC boosted its position in BlackLine by 20.2% in the 4th quarter. Conestoga Capital Advisors LLC now owns 2,113,882 shares of the technology company’s stock valued at $128,439,000 after buying an additional 354,784 shares during the period. JPMorgan Chase & Co. boosted its position in BlackLine by 35.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,666,591 shares of the technology company’s stock valued at $91,896,000 after buying an additional 435,271 shares during the period. Geode Capital Management LLC boosted its position in BlackLine by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,282,017 shares of the technology company’s stock valued at $70,704,000 after buying an additional 3,498 shares during the period. Finally, Engaged Capital LLC bought a new stake in shares of BlackLine in the 3rd quarter valued at about $33,620,000. 95.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. StockNews.com lowered shares of BlackLine from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th. BMO Capital Markets reduced their price target on shares of BlackLine from $68.00 to $60.00 and set a “market perform” rating for the company in a report on Wednesday, February 12th. Truist Financial reduced their price target on shares of BlackLine from $60.00 to $55.00 and set a “hold” rating for the company in a report on Wednesday, February 12th. Bank of America upgraded shares of BlackLine from an “underperform” rating to a “buy” rating and boosted their price target for the company from $50.00 to $75.00 in a report on Thursday, January 30th. Finally, Citigroup reduced their price target on shares of BlackLine from $73.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $66.40.

BlackLine Trading Up 5.1 %

NASDAQ BL opened at $49.89 on Monday. 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 firm has a market cap of $3.13 billion, a PE ratio of 34.41, a price-to-earnings-growth ratio of 10.80 and a beta of 1.03. The company has a 50 day moving average price of $55.68 and a 200 day moving average price of $56.78. BlackLine, Inc. has a 52 week low of $43.37 and a 52 week high of $69.09.

BlackLine (NASDAQ:BL) last released its earnings results on Tuesday, February 11th. The technology company reported $0.21 earnings per share 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%. As a group, sell-side analysts forecast that BlackLine, Inc. will post 0.9 EPS for the current fiscal year.

Insiders Place Their Bets

In other BlackLine news, CRO Mark Woodhams sold 9,088 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $49.67, for a total transaction of $451,400.96. Following the sale, the executive now owns 65,414 shares of the company’s stock, valued at approximately $3,249,113.38. The trade was a 12.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 9.93% of the stock is owned by insiders.

BlackLine Company 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.