XTX Topco Ltd Acquires Shares of 11,018 BlackLine (NASDAQ:BL)

XTX Topco Ltd acquired a new position in shares of BlackLine (NASDAQ:BL - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 11,018 shares of the technology company's stock, valued at approximately $533,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bridgewater Associates LP acquired a new stake in BlackLine during the fourth quarter worth about $244,000. Deutsche Bank AG boosted its stake in BlackLine by 59.2% in the 4th quarter. Deutsche Bank AG now owns 53,811 shares of the technology company's stock worth $3,270,000 after purchasing an additional 20,008 shares during the period. New York State Common Retirement Fund boosted its stake in BlackLine by 7.8% in the 1st quarter. New York State Common Retirement Fund now owns 159,076 shares of the technology company's stock worth $7,702,000 after purchasing an additional 11,549 shares during the period. Wells Fargo & Company MN boosted its stake in BlackLine by 62.9% in the 4th quarter. Wells Fargo & Company MN now owns 96,597 shares of the technology company's stock worth $5,869,000 after purchasing an additional 37,285 shares during the period. Finally, Procyon Advisors LLC lifted its position in BlackLine by 21.6% during the 1st quarter. Procyon Advisors LLC now owns 7,834 shares of the technology company's stock worth $379,000 after buying an additional 1,392 shares in the last quarter. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at BlackLine

In other BlackLine news, CRO Mark Woodhams sold 1,856 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $54.65, for a total value of $101,430.40. Following the transaction, the executive owned 61,390 shares in the company, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Michelle D. Stalick sold 795 shares of the business's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $55.14, for a total transaction of $43,836.30. Following the sale, the chief accounting officer directly owned 25,235 shares in the company, valued at $1,391,457.90. The trade was a 3.05% decrease in their position. The disclosure for this sale can be found here. 8.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

BL has been the topic of several research analyst reports. Wall Street Zen cut shares of BlackLine from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Truist Financial raised their target price on shares of BlackLine from $45.00 to $50.00 and gave the company a "hold" rating in a research report on Thursday. Raymond James Financial upgraded shares of BlackLine from a "market perform" rating to an "outperform" rating and set a $67.00 target price on the stock in a research report on Tuesday, July 29th. Piper Sandler raised their target price on shares of BlackLine from $46.00 to $50.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Finally, The Goldman Sachs Group decreased their price target on shares of BlackLine from $51.00 to $43.00 and set a "sell" rating for the company in a research note on Thursday, April 17th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $61.08.

BlackLine Stock Down 4.3%

Shares of BL traded down $2.15 during midday trading on Friday, hitting $48.35. The stock had a trading volume of 995,655 shares, compared to its average volume of 680,524. BlackLine has a twelve month low of $40.82 and a twelve month high of $66.25. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.64 and a quick ratio of 1.66. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of 37.48, a price-to-earnings-growth ratio of 6.66 and a beta of 0.91. The company has a 50 day simple moving average of $55.66 and a two-hundred day simple moving average of $52.90.

BlackLine (NASDAQ:BL - Get Free Report) last posted its earnings results on Tuesday, August 5th. The technology company reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.01. BlackLine had a net margin of 13.05% and a return on equity of 15.95%. The company had revenue of $172.03 million for the quarter, compared to analyst estimates of $170.87 million. During the same quarter in the prior year, the business posted $0.58 EPS. The firm's revenue was up 7.2% compared to the same quarter last year. On average, analysts anticipate that BlackLine will post 0.9 EPS for the current year.

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.