Asset Management One Co. Ltd. Buys 209 Shares of BlackLine, Inc. (NASDAQ:BL)

Asset Management One Co. Ltd. lifted its holdings in BlackLine, Inc. (NASDAQ:BL) by 19.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,266 shares of the technology company’s stock after buying an additional 209 shares during the quarter. Asset Management One Co. Ltd.’s holdings in BlackLine were worth $77,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Schwartz Investment Counsel Inc. increased its holdings in BlackLine by 17.1% during the 4th quarter. Schwartz Investment Counsel Inc. now owns 480,000 shares of the technology company’s stock worth $29,165,000 after purchasing an additional 70,000 shares during the period. Louisiana State Employees Retirement System increased its holdings in BlackLine by 0.8% during the 4th quarter. Louisiana State Employees Retirement System now owns 25,100 shares of the technology company’s stock worth $1,525,000 after purchasing an additional 200 shares during the period. Stratos Wealth Partners LTD. purchased a new position in BlackLine during the 4th quarter worth $263,000. Conestoga Capital Advisors LLC increased its holdings in BlackLine by 20.2% during the 4th quarter. Conestoga Capital Advisors LLC now owns 2,113,882 shares of the technology company’s stock worth $128,439,000 after purchasing an additional 354,784 shares during the period. Finally, Rheos Capital Works Inc. purchased a new position in BlackLine during the 4th quarter worth $6,076,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the company. BMO Capital Markets reduced their price objective on BlackLine from $68.00 to $60.00 and set a “market perform” rating on the stock in a report on Wednesday, February 12th. StockNews.com raised BlackLine from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Citigroup dropped their target price on BlackLine from $73.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Truist Financial dropped their target price on BlackLine from $60.00 to $55.00 and set a “hold” rating on the stock in a research report on Wednesday, February 12th. Finally, Morgan Stanley increased their target price on BlackLine from $70.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $66.40.

Insiders Place Their Bets

In other BlackLine news, CRO Mark Woodhams sold 24,408 shares of BlackLine stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $64.32, for a total transaction of $1,569,922.56. Following the completion of the transaction, the executive now owns 72,920 shares in the company, valued at approximately $4,690,214.40. This trade represents a 25.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 9.93% of the stock is currently owned by insiders.

BlackLine Stock Performance

Shares of BL opened at $49.17 on Friday. The stock has a 50-day moving average of $59.77 and a two-hundred day moving average of $56.91. BlackLine, Inc. has a one year low of $43.37 and a one year high of $69.31. The company has a debt-to-equity ratio of 2.00, a quick ratio of 2.69 and a current ratio of 2.59. The stock has a market cap of $3.07 billion, a P/E ratio of 33.91, a P/E/G ratio of 10.64 and a beta of 0.92.

BlackLine (NASDAQ:BL) last issued its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates 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, research analysts predict that BlackLine, Inc. will post 0.93 EPS for the current year.

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.