Swiss National Bank Buys 1,200 Shares of BlackLine, Inc. (NASDAQ:BL)

Swiss National Bank boosted its stake in shares of BlackLine, Inc. (NASDAQ:BL) by 1.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 104,000 shares of the technology company’s stock after buying an additional 1,200 shares during the period. Swiss National Bank owned approximately 0.17% of BlackLine worth $6,319,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. SBI Securities Co. Ltd. bought a new position in shares of BlackLine during the fourth quarter valued at approximately $31,000. Global Retirement Partners LLC lifted its stake in BlackLine by 568.4% in the fourth quarter. Global Retirement Partners LLC now owns 528 shares of the technology company’s stock worth $32,000 after acquiring an additional 449 shares during the period. GAMMA Investing LLC grew its holdings in BlackLine by 41.2% during the 4th quarter. GAMMA Investing LLC now owns 634 shares of the technology company’s stock worth $39,000 after acquiring an additional 185 shares in the last quarter. Asset Management One Co. Ltd. increased its position in BlackLine by 19.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 1,266 shares of the technology company’s stock valued at $77,000 after purchasing an additional 209 shares during the period. Finally, KBC Group NV raised its holdings in shares of BlackLine by 44.0% in the 4th quarter. KBC Group NV now owns 2,180 shares of the technology company’s stock valued at $132,000 after purchasing an additional 666 shares in the last quarter. 95.13% of the stock is currently owned by institutional investors.

BlackLine Stock Performance

Shares of BL opened at $50.29 on Monday. 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 50-day moving average of $54.93 and a two-hundred day moving average of $56.80. The stock has a market cap of $3.16 billion, a P/E ratio of 34.68, a P/E/G ratio of 10.80 and a beta of 1.03. BlackLine, Inc. has a one year low of $43.37 and a one year high of $69.09.

BlackLine (NASDAQ:BL) last announced its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.21 earnings per share (EPS) 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, research analysts predict that BlackLine, Inc. will post 0.9 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on BL shares. Piper Sandler cut their price objective on shares of BlackLine from $60.00 to $58.00 and set an “underweight” rating on the stock in a report on Wednesday, February 12th. Truist Financial reduced their price target on BlackLine from $60.00 to $55.00 and set a “hold” rating for the company in a research report on Wednesday, February 12th. JMP Securities restated a “market outperform” rating and set a $86.00 price objective on shares of BlackLine in a research note on Wednesday, January 15th. StockNews.com lowered BlackLine from a “buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Finally, Bank of America raised shares of BlackLine from an “underperform” rating to a “buy” rating and increased their price target for the company from $50.00 to $75.00 in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $66.40.

Insider Activity

In related news, CRO Mark Woodhams sold 9,088 shares of BlackLine stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $49.67, for a total transaction of $451,400.96. Following the completion of the transaction, the executive now directly owns 65,414 shares in the company, valued at approximately $3,249,113.38. This trade represents a 12.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 9.93% of the company’s stock.

About BlackLine

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.