71,773 Shares in BlackLine, Inc. (NASDAQ:BL) Bought by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio acquired a new position in shares of BlackLine, Inc. (NASDAQ:BL - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 71,773 shares of the technology company's stock, valued at approximately $4,361,000. Public Employees Retirement System of Ohio owned approximately 0.11% of BlackLine as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. HighTower Advisors LLC increased its position in shares of BlackLine by 2.5% during the 4th quarter. HighTower Advisors LLC now owns 6,475 shares of the technology company's stock worth $393,000 after purchasing an additional 161 shares during the last quarter. Arizona State Retirement System increased its position in shares of BlackLine by 1.3% during the 4th quarter. Arizona State Retirement System now owns 15,322 shares of the technology company's stock worth $931,000 after purchasing an additional 192 shares during the last quarter. Louisiana State Employees Retirement System increased its position in shares of BlackLine by 0.8% during the 4th quarter. Louisiana State Employees Retirement System now owns 25,100 shares of the technology company's stock worth $1,525,000 after purchasing an additional 200 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings 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 buying an additional 209 shares during the period. Finally, Covestor Ltd raised its holdings 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 buying an additional 280 shares during the period. Hedge funds and other institutional investors own 95.13% of the company's stock.

BlackLine Price Performance

Shares of BL stock traded down $0.20 during mid-day trading on Monday, hitting $55.74. 283,782 shares of the stock traded hands, compared to its average volume of 758,682. BlackLine, Inc. has a twelve month low of $40.82 and a twelve month high of $66.25. The firm has a market cap of $3.47 billion, a price-to-earnings ratio of 38.39, a price-to-earnings-growth ratio of 10.80 and a beta of 0.94. The company's 50-day simple moving average is $49.22 and its 200-day simple moving average is $54.77. The company has a debt-to-equity ratio of 2.00, a quick ratio of 2.69 and a current ratio of 2.59.

Insider Buying and Selling at BlackLine

In other BlackLine news, CRO Mark Woodhams sold 1,856 shares of BlackLine stock in a transaction that occurred 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 sale, the executive now directly owns 61,390 shares of the company's stock, valued at approximately $3,354,963.50. The trade was a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Michelle D. Stalick sold 795 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $55.14, for a total value of $43,836.30. Following the completion of the transaction, the chief accounting officer now directly owns 25,235 shares in the company, valued at $1,391,457.90. The trade was a 3.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.60% of the company's stock.

Wall Street Analysts Forecast Growth

BL has been the topic of several research analyst reports. Citigroup cut their price objective on BlackLine from $73.00 to $70.00 and set a "buy" rating on the stock in a report on Wednesday, February 12th. Truist Financial boosted their price objective on BlackLine from $40.00 to $45.00 and gave the company a "hold" rating in a report on Thursday, May 8th. Piper Sandler boosted their target price on BlackLine from $46.00 to $50.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Morgan Stanley lowered their target price on BlackLine from $80.00 to $65.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Finally, Wall Street Zen cut BlackLine from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Two 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. Based on data from MarketBeat, the stock 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.