Nomura Holdings Inc. Acquires New Shares in BlackLine, Inc. (NASDAQ:BL)

Nomura Holdings Inc. purchased a new position in shares of BlackLine, Inc. (NASDAQ:BL - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 5,768 shares of the technology company's stock, valued at approximately $350,000.

Several other hedge funds have also recently added to or reduced their stakes in BL. HighTower Advisors LLC lifted its stake in shares of BlackLine by 2.5% in the 4th quarter. HighTower Advisors LLC now owns 6,475 shares of the technology company's stock valued at $393,000 after acquiring an additional 161 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of BlackLine by 1.3% in the 4th quarter. Arizona State Retirement System now owns 15,322 shares of the technology company's stock valued at $931,000 after acquiring an additional 192 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of BlackLine by 0.8% in the 4th quarter. Louisiana State Employees Retirement System now owns 25,100 shares of the technology company's stock valued at $1,525,000 after acquiring an additional 200 shares during the last quarter. Asset Management One Co. Ltd. lifted its stake in shares of BlackLine by 19.8% in the 4th quarter. Asset Management One Co. Ltd. now owns 1,266 shares of the technology company's stock valued at $77,000 after acquiring an additional 209 shares during the last quarter. Finally, Covestor Ltd lifted its stake in shares of BlackLine by 20.1% in the 4th quarter. Covestor Ltd now owns 1,672 shares of the technology company's stock valued at $102,000 after acquiring an additional 280 shares during the last quarter. Institutional investors own 95.13% of the company's stock.

BlackLine Stock Up 1.6%

Shares of BL stock traded up $0.88 during midday trading on Tuesday, reaching $55.04. 220,340 shares of the stock were exchanged, compared to its average volume of 768,106. BlackLine, Inc. has a 1 year low of $40.82 and a 1 year high of $66.25. The company's 50 day moving average is $48.82 and its two-hundred day moving average is $54.95. The company has a current ratio of 2.59, a quick ratio of 2.69 and a debt-to-equity ratio of 2.00. The firm has a market cap of $3.43 billion, a PE ratio of 37.95, a price-to-earnings-growth ratio of 10.80 and a beta of 0.94.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BL. DA Davidson lowered their target price on BlackLine from $58.00 to $55.00 and set a "buy" rating for the company in a research note on Monday, April 14th. The Goldman Sachs Group reduced their price target on BlackLine from $51.00 to $43.00 and set a "sell" rating on the stock in a report on Thursday, April 17th. Citigroup reduced their price target on BlackLine from $73.00 to $70.00 and set a "buy" rating on the stock 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 on the stock in a report on Wednesday, April 16th. Finally, Truist Financial boosted their price target on BlackLine from $40.00 to $45.00 and gave the company a "hold" rating in a report on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, BlackLine currently has a consensus rating of "Hold" and an average target price of $60.75.

Insider Buying and Selling

In related 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 sale, the executive now owns 61,390 shares in the company, valued at $3,354,963.50. This represents a 2.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 8.60% of the stock is currently owned by company insiders.

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.