BlackLine (NASDAQ:BL) Shares Bought by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC boosted its position in shares of BlackLine (NASDAQ:BL - Free Report) by 167.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 275,898 shares of the technology company's stock after acquiring an additional 172,860 shares during the period. Segall Bryant & Hamill LLC owned 0.44% of BlackLine worth $13,359,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its position in shares of BlackLine by 1.6% during the 1st quarter. Victory Capital Management Inc. now owns 17,967 shares of the technology company's stock valued at $870,000 after purchasing an additional 285 shares during the last quarter. New York State Common Retirement Fund increased its position in BlackLine by 7.8% during the first quarter. New York State Common Retirement Fund now owns 159,076 shares of the technology company's stock valued at $7,702,000 after acquiring an additional 11,549 shares during the last quarter. Xponance Inc. increased its position in BlackLine by 6.8% during the first quarter. Xponance Inc. now owns 4,422 shares of the technology company's stock valued at $214,000 after acquiring an additional 280 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in BlackLine by 2.2% during the 1st quarter. Bank of New York Mellon Corp now owns 571,054 shares of the technology company's stock valued at $27,650,000 after purchasing an additional 12,057 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in BlackLine by 2.8% during the 1st quarter. Principal Financial Group Inc. now owns 313,527 shares of the technology company's stock valued at $15,181,000 after purchasing an additional 8,496 shares during the last quarter. Institutional investors own 95.13% of the company's stock.

Insider Buying and Selling

In related news, CRO Mark Woodhams sold 1,856 shares of the firm's stock in a transaction dated Wednesday, May 21st. The stock was 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Michelle D. Stalick sold 795 shares of BlackLine stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $55.14, for a total transaction of $43,836.30. Following the sale, the chief accounting officer owned 25,235 shares of the company's stock, valued at approximately $1,391,457.90. This represents a 3.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Morgan Stanley reduced their target price on BlackLine from $80.00 to $65.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. 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. Citigroup restated a "buy" rating and issued a $67.00 target price (up from $58.00) on shares of BlackLine in a research note on Wednesday. Cantor Fitzgerald assumed coverage on shares of BlackLine in a research note on Tuesday, June 3rd. They issued a "neutral" rating and a $58.00 target price on the stock. Finally, Wall Street Zen downgraded BlackLine from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $60.31.

BlackLine Stock Performance

Shares of BL traded up $0.92 during trading hours on Thursday, hitting $55.93. The stock had a trading volume of 444,433 shares, compared to its average volume of 720,791. The firm has a 50-day moving average price of $55.76 and a 200 day moving average price of $53.45. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of 40.53, a PEG ratio of 9.08 and a beta of 0.93. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.66 and a current ratio of 1.66. BlackLine has a fifty-two week low of $40.82 and a fifty-two week high of $66.25.

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.