Nomura Holdings Inc. Takes $350,000 Position in BlackLine, Inc. (NASDAQ:BL)

Nomura Holdings Inc. acquired a new stake in BlackLine, Inc. (NASDAQ:BL - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 5,768 shares of the technology company's stock, valued at approximately $350,000.

Other institutional investors have also added to or reduced their stakes in the company. Topline Capital Management LLC purchased a new stake in shares of BlackLine during the fourth quarter valued at $60,572,000. American Century Companies Inc. boosted its holdings in shares of BlackLine by 12,538.0% during the 4th quarter. American Century Companies Inc. now owns 896,665 shares of the technology company's stock valued at $54,481,000 after acquiring an additional 889,570 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of BlackLine in the fourth quarter worth approximately $23,770,000. Conestoga Capital Advisors LLC grew its stake in shares of BlackLine by 20.2% in the fourth quarter. Conestoga Capital Advisors LLC now owns 2,113,882 shares of the technology company's stock worth $128,439,000 after acquiring an additional 354,784 shares during the period. Finally, Shannon River Fund Management LLC purchased a new position in shares of BlackLine during the fourth quarter valued at approximately $19,827,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at BlackLine

In related news, CRO Mark Woodhams sold 1,856 shares of the firm's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $54.65, for a total value of $101,430.40. Following the completion of the transaction, the executive now directly owns 61,390 shares of the company's stock, valued at approximately $3,354,963.50. This trade represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on BL. The Goldman Sachs Group dropped their target price 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. Piper Sandler lifted their price objective on BlackLine from $46.00 to $50.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. 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. Bank of America raised 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 report on Thursday, January 30th. Finally, DA Davidson reduced their price target on shares of BlackLine from $58.00 to $55.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $60.75.

BlackLine Price Performance

Shares of NASDAQ:BL traded down $0.19 during trading on Wednesday, hitting $55.00. 59,516 shares of the company's stock were exchanged, compared to its average volume of 766,546. The business's 50-day simple moving average is $48.93 and its 200 day simple moving average is $54.96. The company has a market cap of $3.43 billion, a price-to-earnings ratio of 37.94, a PEG ratio of 10.80 and a beta of 0.94. BlackLine, Inc. has a 52-week low of $40.82 and a 52-week high of $66.25. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.59 and a quick ratio of 2.69.

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.