BlackLine, Inc. (NASDAQ:BL) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lifted its position in shares of BlackLine, Inc. (NASDAQ:BL - Free Report) by 8.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 721,831 shares of the technology company's stock after acquiring an additional 58,365 shares during the period. Dimensional Fund Advisors LP owned approximately 1.16% of BlackLine worth $43,858,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new position in BlackLine during the fourth quarter valued at $31,000. Global Retirement Partners LLC grew its holdings in shares of BlackLine by 568.4% in the fourth quarter. Global Retirement Partners LLC now owns 528 shares of the technology company's stock valued at $32,000 after purchasing an additional 449 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in shares of BlackLine by 243.5% in the 4th quarter. Quadrant Capital Group LLC now owns 584 shares of the technology company's stock worth $35,000 after buying an additional 414 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of BlackLine by 41.2% in the 4th quarter. GAMMA Investing LLC now owns 634 shares of the technology company's stock valued at $39,000 after purchasing an additional 185 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of BlackLine during the 4th quarter worth about $50,000. Institutional investors own 95.13% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on BL shares. StockNews.com upgraded shares of BlackLine from a "hold" rating to a "buy" rating in a report on Wednesday. Truist Financial upped their target price on BlackLine from $40.00 to $45.00 and gave the company a "hold" rating in a research report on Thursday. BMO Capital Markets reduced their price target on BlackLine from $68.00 to $60.00 and set a "market perform" rating for the company in a research report on Wednesday, February 12th. DA Davidson cut their price objective on BlackLine from $58.00 to $55.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Piper Sandler lifted their price objective on BlackLine from $46.00 to $50.00 and gave the stock a "neutral" rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $60.75.

BlackLine Stock Performance

Shares of BL traded up $0.49 during midday trading on Friday, reaching $53.45. 232,918 shares of the stock were exchanged, compared to its average volume of 804,350. The business's 50-day moving average price is $47.40 and its 200 day moving average price is $55.18. The company has a market capitalization of $3.37 billion, a price-to-earnings ratio of 36.86, a PEG ratio of 10.80 and a beta of 0.94. BlackLine, Inc. has a twelve month low of $40.82 and a twelve month high of $66.25. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.59 and a quick ratio of 2.69.

BlackLine (NASDAQ:BL - Get Free Report) last issued its earnings results on Tuesday, February 11th. The technology company reported $0.21 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%. On average, sell-side analysts expect that BlackLine, Inc. will post 0.9 EPS for the current fiscal year.

Insiders Place Their Bets

In other 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 transaction, the executive now owns 65,414 shares of the company's stock, 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 document filed with the SEC, which is accessible through this hyperlink. 8.60% 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.