Northern Trust Corp Has $45.29 Million Holdings in BlackLine, Inc. (NASDAQ:BL)

Northern Trust Corp grew its stake in BlackLine, Inc. (NASDAQ:BL - Free Report) by 14.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 745,397 shares of the technology company's stock after acquiring an additional 96,523 shares during the period. Northern Trust Corp owned 1.19% of BlackLine worth $45,290,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Conestoga Capital Advisors LLC boosted its holdings in shares of BlackLine by 20.2% during the 4th quarter. Conestoga Capital Advisors LLC now owns 2,113,882 shares of the technology company's stock worth $128,439,000 after buying an additional 354,784 shares during the period. Topline Capital Management LLC bought a new stake in BlackLine during the 4th quarter worth approximately $60,572,000. American Century Companies Inc. grew its holdings in BlackLine by 12,538.0% during the 4th quarter. American Century Companies Inc. now owns 896,665 shares of the technology company's stock worth $54,481,000 after acquiring an additional 889,570 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of BlackLine by 8.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 721,831 shares of the technology company's stock valued at $43,858,000 after purchasing an additional 58,365 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in BlackLine by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 501,699 shares of the technology company's stock worth $30,483,000 after purchasing an additional 6,477 shares in the last quarter. 95.13% of the stock is owned by institutional investors.

BlackLine Stock Performance

Shares of BL traded up $1.68 during mid-day trading on Monday, hitting $54.91. 984,691 shares of the company's stock were exchanged, compared to its average volume of 807,191. BlackLine, Inc. has a fifty-two week low of $40.82 and a fifty-two week high of $66.25. The firm has a market capitalization of $3.46 billion, a P/E ratio of 37.87, a P/E/G ratio of 10.80 and a beta of 0.94. The business's 50 day moving average is $47.50 and its two-hundred day moving average is $55.13. 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 (NASDAQ:BL - Get Free Report) last issued its earnings results on Tuesday, February 11th. The technology company reported $0.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.29). BlackLine had a net margin of 24.67% and a return on equity of 21.63%. On average, equities analysts expect that BlackLine, Inc. will post 0.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. StockNews.com upgraded BlackLine from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. Truist Financial boosted their target price on shares of BlackLine from $40.00 to $45.00 and gave the company a "hold" rating in a report on Thursday. Morgan Stanley decreased their price target on shares of BlackLine from $80.00 to $65.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. The Goldman Sachs Group cut their target price on shares of BlackLine from $51.00 to $43.00 and set a "sell" rating for the company in a research report on Thursday, April 17th. Finally, BMO Capital Markets cut their price target on shares of BlackLine from $68.00 to $60.00 and set a "market perform" rating for the company in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $60.75.

Insider Buying and Selling at BlackLine

In other BlackLine news, CRO Mark Woodhams sold 9,088 shares of the firm's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $49.67, for a total value of $451,400.96. Following the completion of the sale, the executive now owns 65,414 shares in the company, valued at approximately $3,249,113.38. This trade represents a 12.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 8.60% of the company's stock.

About BlackLine

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.