Ananym Capital Management LP Invests $17.50 Million in BlackLine, Inc. (NASDAQ:BL)

Ananym Capital Management LP purchased a new stake in shares of BlackLine, Inc. (NASDAQ:BL - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 287,976 shares of the technology company's stock, valued at approximately $17,497,000. BlackLine accounts for about 10.6% of Ananym Capital Management LP's investment portfolio, making the stock its 6th biggest position. Ananym Capital Management LP owned 0.46% of BlackLine as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Tidal Investments LLC increased its holdings in shares of BlackLine by 1.6% in the third quarter. Tidal Investments LLC now owns 13,539 shares of the technology company's stock valued at $747,000 after buying an additional 219 shares in the last quarter. Principal Financial Group Inc. boosted its position in BlackLine by 13.6% during the 3rd quarter. Principal Financial Group Inc. now owns 290,775 shares of the technology company's stock worth $16,033,000 after acquiring an additional 34,919 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of 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 purchasing an additional 435,271 shares during the period. GAMMA Investing LLC raised its holdings in shares of BlackLine by 41.2% during the fourth 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. Finally, Dakota Wealth Management purchased a new position in BlackLine in the fourth quarter valued at about $244,000. Institutional investors own 95.13% of the company's stock.

BlackLine Stock Performance

BL stock traded down $0.12 on Monday, reaching $47.15. 892,551 shares of the company were exchanged, compared to its average volume of 801,951. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.59 and a quick ratio of 2.69. The firm has a market capitalization of $2.97 billion, a PE ratio of 32.52, a PEG ratio of 10.80 and a beta of 0.94. The stock's fifty day moving average price is $47.28 and its 200 day moving average price is $55.30. BlackLine, Inc. has a 12 month low of $40.82 and a 12 month high of $66.25.

BlackLine (NASDAQ:BL - Get Free Report) 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 net margin of 24.67% and a return on equity of 21.63%. On average, research analysts anticipate that BlackLine, Inc. will post 0.9 EPS for the current fiscal year.

Analyst Ratings Changes

BL has been the subject of several recent research reports. Piper Sandler raised BlackLine from an "underweight" rating to a "neutral" rating and lowered their price target for the company from $58.00 to $46.00 in a research note on Wednesday, April 23rd. Bank of America upgraded shares of BlackLine from an "underperform" rating to a "buy" rating and raised their price target for the company from $50.00 to $75.00 in a report on Thursday, January 30th. BMO Capital Markets decreased their price objective 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. The Goldman Sachs Group cut their target price on BlackLine from $51.00 to $43.00 and set a "sell" rating on the stock in a report on Thursday, April 17th. Finally, DA Davidson lowered their price objective on BlackLine from $58.00 to $55.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, BlackLine presently has an average rating of "Hold" and an average target price of $60.00.

Insider Activity at BlackLine

In other BlackLine news, CRO Mark Woodhams sold 9,088 shares of the stock in a transaction dated 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 $3,249,113.38. This represents a 12.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.60% of the stock is currently owned by corporate insiders.

BlackLine 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.