40,000 Shares in BlackLine, Inc. (NASDAQ:BL) Acquired by BDF Gestion

BDF Gestion bought a new position in shares of BlackLine, Inc. (NASDAQ:BL - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 40,000 shares of the technology company's stock, valued at approximately $1,937,000. BDF Gestion owned 0.06% of BlackLine as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the company. Louisiana State Employees Retirement System increased its stake in BlackLine by 0.8% in the fourth quarter. Louisiana State Employees Retirement System now owns 25,100 shares of the technology company's stock valued at $1,525,000 after purchasing an additional 200 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in BlackLine by 19.8% in the fourth 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 last quarter. Principal Financial Group Inc. increased its stake in BlackLine by 4.9% in the fourth quarter. Principal Financial Group Inc. now owns 305,031 shares of the technology company's stock valued at $18,534,000 after purchasing an additional 14,256 shares during the last quarter. New York State Common Retirement Fund increased its stake in BlackLine by 43.9% in the fourth quarter. New York State Common Retirement Fund now owns 147,527 shares of the technology company's stock valued at $8,964,000 after purchasing an additional 45,028 shares during the last quarter. Finally, Global Retirement Partners LLC boosted 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 acquiring an additional 449 shares during the period. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on BL shares. Piper Sandler increased their price objective on BlackLine from $46.00 to $50.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. DA Davidson decreased their price objective on BlackLine from $58.00 to $55.00 and set a "buy" rating for the company in a report on Monday, April 14th. The Goldman Sachs Group decreased their price target on BlackLine from $51.00 to $43.00 and set a "sell" rating for the company in a report on Thursday, April 17th. Wall Street Zen downgraded BlackLine from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Finally, Truist Financial raised their target price on BlackLine from $40.00 to $45.00 and gave the company a "hold" rating in a report on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $60.54.

BlackLine Stock Down 3.1%

BL opened at $54.06 on Monday. 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 stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of 37.28, a price-to-earnings-growth ratio of 10.80 and a beta of 0.94. The business has a 50-day moving average of $51.12 and a two-hundred day moving average of $54.49. BlackLine, Inc. has a 12 month low of $40.82 and a 12 month high of $66.25.

Insider Transactions at BlackLine

In related news, CRO Mark Woodhams sold 1,856 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $54.65, for a total transaction of $101,430.40. Following the transaction, the executive now directly owns 61,390 shares of the company's stock, valued at approximately $3,354,963.50. The trade was a 2.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Michelle D. Stalick sold 795 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $55.14, for a total value of $43,836.30. Following the transaction, the chief accounting officer now directly owns 25,235 shares in the company, valued at $1,391,457.90. This trade represents a 3.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.60% 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.

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