BlackLine, Inc. (NASDAQ:BL) Stock Position Raised by ProShare Advisors LLC

ProShare Advisors LLC boosted its holdings in BlackLine, Inc. (NASDAQ:BL - Free Report) by 42.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,736 shares of the technology company's stock after purchasing an additional 5,309 shares during the quarter. ProShare Advisors LLC's holdings in BlackLine were worth $1,078,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in BL. SBI Securities Co. Ltd. purchased a new position in BlackLine in the 4th quarter worth approximately $31,000. Global Retirement Partners LLC boosted its stake 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 during the period. Quadrant Capital Group LLC grew its holdings in BlackLine by 243.5% during the 4th quarter. Quadrant Capital Group LLC now owns 584 shares of the technology company's stock valued at $35,000 after purchasing an additional 414 shares in the last quarter. Headlands Technologies LLC purchased a new stake in BlackLine during the 4th quarter worth $50,000. Finally, Huntington National Bank increased its stake in BlackLine by 596.4% during the 4th quarter. Huntington National Bank now owns 968 shares of the technology company's stock worth $59,000 after buying an additional 829 shares during the period. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

BlackLine Trading Down 0.3%

Shares of BL stock traded down $0.19 during trading hours on Wednesday, reaching $55.00. 59,516 shares of the stock traded hands, compared to its average volume of 766,556. The company has a quick ratio of 2.69, a current ratio of 2.59 and a debt-to-equity ratio of 2.00. The firm has a market capitalization of $3.43 billion, a PE ratio of 37.94, a PEG ratio of 10.80 and a beta of 0.94. BlackLine, Inc. has a 1-year low of $40.82 and a 1-year high of $66.25. The business has a fifty day moving average price of $48.93 and a 200 day moving average price of $54.96.

Insider Activity 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 shares were 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 8.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on BL. Citigroup cut their price target on BlackLine from $73.00 to $70.00 and set a "buy" rating on the stock in a research note on Wednesday, February 12th. Piper Sandler upped their target price on BlackLine from $46.00 to $50.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Wall Street Zen lowered shares of BlackLine from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. The Goldman Sachs Group cut their price target on shares of BlackLine from $51.00 to $43.00 and set a "sell" rating on the stock in a report on Thursday, April 17th. Finally, 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. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $60.75.

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.