Deutsche Bank AG Grows Stock Holdings in BlackLine, Inc. (NASDAQ:BL)

Deutsche Bank AG lifted its stake in BlackLine, Inc. (NASDAQ:BL - Free Report) by 59.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,811 shares of the technology company's stock after buying an additional 20,008 shares during the quarter. Deutsche Bank AG owned approximately 0.09% of BlackLine worth $3,270,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of BL. SBI Securities Co. Ltd. acquired a new position in BlackLine in the 4th quarter worth about $31,000. Global Retirement Partners LLC raised its holdings in BlackLine by 568.4% in the 4th quarter. Global Retirement Partners LLC now owns 528 shares of the technology company's stock worth $32,000 after purchasing an additional 449 shares during the period. Quadrant Capital Group LLC raised its holdings in 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 purchasing an additional 414 shares during the period. Headlands Technologies LLC acquired a new position in BlackLine in the 4th quarter worth about $50,000. Finally, Huntington National Bank raised its holdings in BlackLine by 596.4% in the 4th quarter. Huntington National Bank now owns 968 shares of the technology company's stock worth $59,000 after purchasing an additional 829 shares during the period. Hedge funds and other institutional investors own 95.13% of the company's stock.

Analyst Upgrades and Downgrades

BL has been the subject of a number of analyst reports. 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 report on Wednesday, February 12th. Morgan Stanley reduced their price target on BlackLine from $80.00 to $65.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Bank of America raised BlackLine from an "underperform" rating to a "buy" rating and upped their price target for the stock from $50.00 to $75.00 in a report on Thursday, January 30th. Piper Sandler upped their price target on BlackLine from $46.00 to $50.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Finally, DA Davidson reduced their price target on BlackLine from $58.00 to $55.00 and set a "buy" rating for the company in a report on Monday, April 14th. Two research 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, BlackLine currently has an average rating of "Hold" and a consensus price target of $60.75.

Insider Activity

In other news, CRO Mark Woodhams sold 1,856 shares of the company'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 value of $101,430.40. Following the completion of the sale, the executive now directly owns 61,390 shares in the company, valued at $3,354,963.50. This represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 8.60% of the company's stock.

BlackLine Price Performance

Shares of BlackLine stock traded down $0.30 during mid-day trading on Friday, reaching $54.16. 500,384 shares of the stock traded hands, compared to its average volume of 771,460. The business has a 50-day moving average of $48.74 and a 200 day moving average of $55.05. BlackLine, Inc. has a fifty-two week low of $40.82 and a fifty-two week high of $66.25. The stock has a market capitalization of $3.38 billion, a PE ratio of 37.35, a PEG ratio of 10.80 and a beta of 0.94. The company has a quick ratio of 2.69, a current ratio of 2.59 and a debt-to-equity ratio of 2.00.

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.