Synovus Financial Corp bought a new position in shares of BlackLine, Inc. (NASDAQ:BL - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 11,332 shares of the technology company's stock, valued at approximately $689,000.
A number of other institutional investors have also recently bought and sold shares of the stock. Geode Capital Management LLC boosted its position in shares of BlackLine by 0.3% during the third quarter. Geode Capital Management LLC now owns 1,282,017 shares of the technology company's stock worth $70,704,000 after buying an additional 3,498 shares during the period. Tidal Investments LLC lifted its stake in BlackLine by 1.6% in the 3rd quarter. Tidal Investments LLC now owns 13,539 shares of the technology company's stock valued at $747,000 after acquiring an additional 219 shares in the last quarter. 272 Capital LP boosted its position in BlackLine by 30.8% during the 3rd quarter. 272 Capital LP now owns 68,437 shares of the technology company's stock worth $3,774,000 after acquiring an additional 16,107 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of BlackLine by 13.6% during the 3rd quarter. Principal Financial Group Inc. now owns 290,775 shares of the technology company's stock worth $16,033,000 after acquiring an additional 34,919 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of BlackLine by 35.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,666,591 shares of the technology company's stock worth $91,896,000 after acquiring an additional 435,271 shares in the last quarter. Institutional investors own 95.13% of the company's stock.
Insider Buying and Selling at BlackLine
In other news, CRO Mark Woodhams sold 9,088 shares of BlackLine stock in a transaction on Friday, February 21st. The stock was sold at an average price of $49.67, for a total transaction of $451,400.96. Following the completion of the sale, the executive now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 8.60% of the company's stock.
Analyst Ratings Changes
Several research analysts recently commented on the stock. Piper Sandler reduced their target price on shares of BlackLine from $60.00 to $58.00 and set an "underweight" rating for the company in a report on Wednesday, February 12th. DA Davidson reduced their price objective on shares of BlackLine from $58.00 to $55.00 and set a "buy" rating for the company in a research note on Monday, April 14th. The Goldman Sachs Group decreased their price objective on BlackLine from $51.00 to $43.00 and set a "sell" rating for the company in a report on Thursday, April 17th. JMP Securities reiterated a "market outperform" rating and set a $86.00 target price on shares of BlackLine in a report on Wednesday, January 15th. Finally, Bank of America upgraded BlackLine from an "underperform" rating to a "buy" rating and raised their price target for the company from $50.00 to $75.00 in a research note on Thursday, January 30th. Three analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $61.00.
Get Our Latest Stock Report on BL
BlackLine Stock Performance
Shares of BL stock traded up $1.58 during trading on Tuesday, reaching $45.06. 547,078 shares of the company's stock were exchanged, compared to its average volume of 806,085. The firm's fifty day moving average price is $47.82 and its 200-day moving average price is $55.91. BlackLine, Inc. has a twelve month low of $40.82 and a twelve month high of $66.25. The stock has a market capitalization of $2.84 billion, a PE ratio of 31.08, a PEG ratio of 10.80 and a beta of 0.97. The company has a quick ratio of 2.69, a current ratio of 2.59 and a debt-to-equity ratio of 2.00.
BlackLine (NASDAQ:BL - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.21 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%. As a group, sell-side analysts anticipate that BlackLine, Inc. will post 0.9 EPS for the current year.
About BlackLine
(
Free Report)
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.
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