UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 38,463 Shares of BlackLine, Inc. (NASDAQ:BL)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in BlackLine, Inc. (NASDAQ:BL - Free Report) by 32.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 157,535 shares of the technology company's stock after acquiring an additional 38,463 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.25% of BlackLine worth $9,572,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Conestoga Capital Advisors LLC boosted its stake in BlackLine by 20.2% during the fourth quarter. Conestoga Capital Advisors LLC now owns 2,113,882 shares of the technology company's stock valued at $128,439,000 after buying an additional 354,784 shares in the last quarter. Topline Capital Management LLC bought a new position in shares of BlackLine in the 4th quarter valued at approximately $60,572,000. American Century Companies Inc. increased its position in BlackLine by 12,538.0% in the 4th quarter. American Century Companies Inc. now owns 896,665 shares of the technology company's stock worth $54,481,000 after buying an additional 889,570 shares during the period. Brown Advisory Inc. grew its holdings in shares of BlackLine by 38.8% during the 4th quarter. Brown Advisory Inc. now owns 783,437 shares of the technology company's stock worth $47,602,000 after purchasing an additional 218,976 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in BlackLine by 14.9% in the 4th quarter. Northern Trust Corp now owns 745,397 shares of the technology company's stock valued at $45,290,000 after buying an additional 96,523 shares in the last quarter. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

BlackLine Stock Down 0.3%

BL traded down $0.17 during trading hours on Monday, hitting $55.76. 603,748 shares of the company's stock were exchanged, compared to its average volume of 759,916. The company has a current ratio of 2.59, a quick ratio of 2.69 and a debt-to-equity ratio of 2.00. BlackLine, Inc. has a 12-month low of $40.82 and a 12-month high of $66.25. The firm has a market cap of $3.47 billion, a P/E ratio of 38.46, a price-to-earnings-growth ratio of 10.80 and a beta of 0.94. The firm has a 50 day moving average of $49.22 and a 200 day moving average of $54.77.

Insiders Place Their Bets

In other BlackLine news, CAO Michelle D. Stalick sold 795 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $55.14, for a total transaction of $43,836.30. Following the transaction, the chief accounting officer now owns 25,235 shares in the company, valued at $1,391,457.90. This trade represents a 3.05% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 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 completion of 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 disclosure for this sale can be found here. 8.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

BL has been the subject of a number of research analyst reports. The Goldman Sachs Group decreased their target price on BlackLine from $51.00 to $43.00 and set a "sell" rating for the company in a research note on Thursday, April 17th. Piper Sandler raised their target price on BlackLine from $46.00 to $50.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Wall Street Zen lowered BlackLine from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. BMO Capital Markets decreased their target price on BlackLine from $68.00 to $60.00 and set a "market perform" rating for the company in a research report on Wednesday, February 12th. Finally, Truist Financial lifted their price target on BlackLine from $40.00 to $45.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, BlackLine presently 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.