Susquehanna Fundamental Investments LLC Purchases New Holdings in BlackLine, Inc. (NASDAQ:BL)

Susquehanna Fundamental Investments LLC bought a new position in BlackLine, Inc. (NASDAQ:BL - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 104,301 shares of the technology company's stock, valued at approximately $6,337,000. Susquehanna Fundamental Investments LLC owned 0.17% of BlackLine at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Topline Capital Management LLC purchased a new stake in BlackLine during the fourth quarter worth $60,572,000. American Century Companies Inc. lifted its stake in shares of 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 purchasing an additional 889,570 shares during the last quarter. JPMorgan Chase & Co. boosted its position in BlackLine by 35.3% during the third quarter. JPMorgan Chase & Co. now owns 1,666,591 shares of the technology company's stock valued at $91,896,000 after purchasing an additional 435,271 shares in the last quarter. Raymond James Financial Inc. purchased a new position in BlackLine in the fourth quarter valued at about $23,770,000. Finally, Conestoga Capital Advisors LLC grew its stake in BlackLine by 20.2% in 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 purchasing an additional 354,784 shares during the last quarter. Institutional investors own 95.13% of the company's stock.

Insider Transactions at BlackLine

In other BlackLine news, CRO Mark Woodhams sold 9,088 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $49.67, for a total value of $451,400.96. Following the sale, the executive now directly owns 65,414 shares of the company's stock, valued at approximately $3,249,113.38. This trade represents a 12.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 8.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BL. JMP Securities restated a "market outperform" rating and issued a $86.00 price target on shares of BlackLine in a report on Wednesday, January 15th. The Goldman Sachs Group reduced their price target on BlackLine from $51.00 to $43.00 and set a "sell" rating on the stock in a research report on Thursday, April 17th. BMO Capital Markets dropped their target price on BlackLine from $68.00 to $60.00 and set a "market perform" rating on the stock in a research note on Wednesday, February 12th. Truist Financial reduced their target price on BlackLine from $55.00 to $40.00 and set a "hold" rating on the stock in a research report on Monday, April 7th. Finally, Citigroup lowered their price target on BlackLine from $73.00 to $70.00 and set a "buy" rating for the company in a report on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, BlackLine has an average rating of "Hold" and a consensus target price of $60.00.

BlackLine Stock Performance

Shares of NASDAQ:BL traded down $0.06 during midday trading on Friday, reaching $47.27. The company's stock had a trading volume of 548,000 shares, compared to its average volume of 801,587. The company has a quick ratio of 2.69, a current ratio of 2.59 and a debt-to-equity ratio of 2.00. The stock has a fifty day moving average of $47.32 and a 200 day moving average of $55.41. BlackLine, Inc. has a twelve month low of $40.82 and a twelve month high of $66.25. The firm has a market capitalization of $2.98 billion, a PE ratio of 32.60, a P/E/G ratio of 10.80 and a beta of 0.94.

BlackLine (NASDAQ:BL - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate 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 EPS for the current fiscal year.

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.