25,221 Shares in BlackLine, Inc. (NASDAQ:BL) Acquired by Man Group plc

Man Group plc purchased a new stake in BlackLine, Inc. (NASDAQ:BL - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 25,221 shares of the technology company's stock, valued at approximately $1,532,000.

Other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its stake in BlackLine by 4.9% in the fourth quarter. Principal Financial Group Inc. now owns 305,031 shares of the technology company's stock valued at $18,534,000 after acquiring an additional 14,256 shares during the last quarter. Conestoga Capital Advisors LLC lifted its stake in shares of BlackLine by 20.2% during the 4th quarter. Conestoga Capital Advisors LLC now owns 2,113,882 shares of the technology company's stock worth $128,439,000 after buying an additional 354,784 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of BlackLine by 154.1% during the 4th quarter. Pacer Advisors Inc. now owns 4,159 shares of the technology company's stock worth $253,000 after buying an additional 2,522 shares during the last quarter. Sei Investments Co. lifted its stake in shares of BlackLine by 6.2% during the 4th quarter. Sei Investments Co. now owns 147,381 shares of the technology company's stock worth $8,955,000 after buying an additional 8,558 shares during the last quarter. Finally, Bridgewater Associates LP acquired a new stake in shares of BlackLine during the 4th quarter worth about $244,000. Institutional investors and hedge funds own 95.13% of the company's stock.

BlackLine Price Performance

Shares of BlackLine stock traded up $0.05 during midday trading on Thursday, hitting $55.10. 132,533 shares of the company traded hands, compared to its average volume of 762,182. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 37.99, a PEG ratio of 10.80 and a beta of 0.94. The company has a debt-to-equity ratio of 2.00, a quick ratio of 2.69 and a current ratio of 2.59. The firm's fifty day moving average price is $49.02 and its 200-day moving average price is $54.96. BlackLine, Inc. has a 12 month low of $40.82 and a 12 month high of $66.25.

Insider Activity at BlackLine

In related news, CRO Mark Woodhams sold 1,856 shares of BlackLine 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 sale, the executive now directly owns 61,390 shares in the company, valued at $3,354,963.50. This trade represents a 2.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BL. Bank of America upgraded shares of BlackLine from an "underperform" rating to a "buy" rating and raised their target price for the stock from $50.00 to $75.00 in a research note on Thursday, January 30th. The Goldman Sachs Group cut their target price on shares of BlackLine from $51.00 to $43.00 and set a "sell" rating for the company in a research note on Thursday, April 17th. Citigroup cut their target price on shares of BlackLine from $73.00 to $70.00 and set a "buy" rating for the company in a research note on Wednesday, February 12th. Morgan Stanley lowered their price target on shares of BlackLine from $80.00 to $65.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, Piper Sandler raised their price target on shares of BlackLine from $46.00 to $50.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, BlackLine currently has an average rating of "Hold" and an average 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.