Deutsche Bank AG Buys 20,008 Shares of BlackLine, Inc. (NASDAQ:BL)

Deutsche Bank AG increased its position in BlackLine, Inc. (NASDAQ:BL - Free Report) by 59.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 53,811 shares of the technology company's stock after purchasing 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 filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in BL. Brown Advisory Inc. lifted its position in BlackLine by 38.8% during the fourth quarter. Brown Advisory Inc. now owns 783,437 shares of the technology company's stock valued at $47,602,000 after buying an additional 218,976 shares during the period. Balyasny Asset Management L.P. grew its position in shares of BlackLine by 365.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 405,801 shares of the technology company's stock worth $24,656,000 after buying an additional 318,647 shares during the period. Ameriprise Financial Inc. increased its stake in shares of BlackLine by 17.4% in the 4th quarter. Ameriprise Financial Inc. now owns 388,594 shares of the technology company's stock worth $23,611,000 after acquiring an additional 57,708 shares in the last quarter. Ananym Capital Management LP purchased a new position in BlackLine during the 4th quarter valued at about $17,497,000. Finally, Comerica Bank lifted its position in BlackLine by 18.9% during the 4th quarter. Comerica Bank now owns 168,230 shares of the technology company's stock valued at $10,222,000 after acquiring an additional 26,792 shares during the period. 95.13% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CRO Mark Woodhams sold 1,856 shares of the company's stock in a transaction 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 completion of the sale, the executive now owns 61,390 shares in the company, valued at approximately $3,354,963.50. This represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.60% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on BL shares. Wall Street Zen cut shares of BlackLine from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. DA Davidson dropped their price target on BlackLine from $58.00 to $55.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Morgan Stanley reduced their price objective on BlackLine from $80.00 to $65.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. The Goldman Sachs Group lowered their price objective on BlackLine from $51.00 to $43.00 and set a "sell" rating for the company in a research note on Thursday, April 17th. Finally, Citigroup cut their target price on BlackLine from $73.00 to $70.00 and set a "buy" rating on the stock in a research note on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, BlackLine currently has an average rating of "Hold" and an average target price of $60.75.

BlackLine Stock Performance

Shares of NASDAQ:BL traded down $0.30 during midday trading on Monday, reaching $54.16. 500,384 shares of the company's stock traded hands, compared to its average volume of 770,275. The company has a debt-to-equity ratio of 2.00, a quick ratio of 2.69 and a current ratio of 2.59. BlackLine, Inc. has a one year low of $40.82 and a one year high of $66.25. The company has a market cap of $3.38 billion, a price-to-earnings ratio of 37.35, a P/E/G ratio of 10.80 and a beta of 0.94. The stock has a 50 day moving average of $48.82 and a 200 day moving average of $54.95.

BlackLine Company 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.