UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stake in BlackLine, Inc. (NASDAQ:BL)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in BlackLine, Inc. (NASDAQ:BL - Free Report) by 32.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 157,535 shares of the technology company's stock after buying an additional 38,463 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.25% of BlackLine worth $9,572,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new position in shares of BlackLine during the fourth quarter valued at about $31,000. Global Retirement Partners LLC grew its position in shares of BlackLine by 568.4% during the fourth quarter. Global Retirement Partners LLC now owns 528 shares of the technology company's stock valued at $32,000 after purchasing an additional 449 shares in the last quarter. Quadrant Capital Group LLC grew its position in shares of BlackLine by 243.5% during the fourth quarter. Quadrant Capital Group LLC now owns 584 shares of the technology company's stock valued at $35,000 after purchasing an additional 414 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of BlackLine during the fourth quarter valued at about $50,000. Finally, Huntington National Bank grew its position in shares of BlackLine by 596.4% during the fourth quarter. Huntington National Bank now owns 968 shares of the technology company's stock valued at $59,000 after purchasing an additional 829 shares in the last quarter. Hedge funds and other institutional investors own 95.13% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Truist Financial raised their price objective on BlackLine from $40.00 to $45.00 and gave the company a "hold" rating in a research report on Thursday, May 8th. Piper Sandler increased their price target on shares of BlackLine from $46.00 to $50.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Citigroup lowered their price target on shares of BlackLine from $73.00 to $70.00 and set a "buy" rating for the company in a report on Wednesday, February 12th. BMO Capital Markets lowered their price target on shares of BlackLine from $68.00 to $60.00 and set a "market perform" rating for the company in a report on Wednesday, February 12th. Finally, Wall Street Zen downgraded shares of BlackLine from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, BlackLine currently has an average rating of "Hold" and a consensus price target of $60.54.

Insider Transactions at BlackLine

In related news, CAO Michelle D. Stalick sold 795 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The shares were 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 owns 25,235 shares of the company's stock, valued at $1,391,457.90. The trade was a 3.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Mark Woodhams sold 1,856 shares of the business'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 transaction 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 $3,354,963.50. This trade represents a 2.93% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.60% of the company's stock.

BlackLine Trading Up 0.8%

NASDAQ BL traded up $0.46 during trading on Wednesday, hitting $58.05. The stock had a trading volume of 816,065 shares, compared to its average volume of 757,148. 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 stock has a market capitalization of $3.62 billion, a price-to-earnings ratio of 40.03, a P/E/G ratio of 10.80 and a beta of 0.94. BlackLine, Inc. has a one year low of $40.82 and a one year high of $66.25. The stock has a 50 day simple moving average of $49.66 and a 200 day simple moving average of $54.79.

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.