Bessemer Group Inc. Has $536,000 Holdings in BlackLine (NASDAQ:BL)

Bessemer Group Inc. boosted its position in shares of BlackLine (NASDAQ:BL - Free Report) by 2,276.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,074 shares of the technology company's stock after buying an additional 10,608 shares during the quarter. Bessemer Group Inc.'s holdings in BlackLine were worth $536,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Topline Capital Management LLC acquired a new position in shares of BlackLine in the 4th quarter worth $60,572,000. American Century Companies Inc. lifted its stake in BlackLine by 12,538.0% during the fourth quarter. American Century Companies Inc. now owns 896,665 shares of the technology company's stock valued at $54,481,000 after buying an additional 889,570 shares in the last quarter. Brown Advisory Inc. increased its position in shares of BlackLine by 38.8% in the fourth quarter. Brown Advisory Inc. now owns 783,437 shares of the technology company's stock worth $47,602,000 after acquiring an additional 218,976 shares in the last quarter. Northern Trust Corp lifted its position in shares of BlackLine by 14.9% in the 4th quarter. Northern Trust Corp now owns 745,397 shares of the technology company's stock valued at $45,290,000 after acquiring an additional 96,523 shares in the last quarter. Finally, Tensile Capital Management LP boosted its stake in BlackLine by 16.5% in the 4th quarter. Tensile Capital Management LP now owns 740,997 shares of the technology company's stock worth $45,023,000 after purchasing an additional 105,000 shares during the period. 95.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Michelle D. Stalick sold 795 shares of the company's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $55.14, for a total transaction of $43,836.30. Following the completion of the transaction, the chief accounting officer directly owned 25,235 shares in the company, valued at $1,391,457.90. This represents a 3.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO Mark Woodhams sold 1,856 shares of the stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $54.65, for a total transaction of $101,430.40. Following the completion of the sale, the executive directly owned 61,390 shares of the company's stock, valued at approximately $3,354,963.50. This trade represents a 2.93% 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.

BlackLine Stock Performance

Shares of NASDAQ BL traded up $0.82 during trading hours on Friday, hitting $57.78. 296,408 shares of the stock were exchanged, compared to its average volume of 729,351. BlackLine has a one year low of $40.82 and a one year high of $66.25. The company's 50 day moving average is $54.22 and its 200 day moving average is $53.90. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.66 and a quick ratio of 1.66. The firm has a market capitalization of $3.60 billion, a P/E ratio of 41.87, a P/E/G ratio of 9.43 and a beta of 0.93.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Truist Financial lifted their price target on BlackLine from $40.00 to $45.00 and gave the company a "hold" rating in a report on Thursday, May 8th. DA Davidson lowered their price target on shares of BlackLine from $58.00 to $55.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Wall Street Zen cut BlackLine from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Piper Sandler upped their target price on BlackLine from $46.00 to $50.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Finally, The Goldman Sachs Group reduced 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. Two equities 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. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $60.54.

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.