Susquehanna Fundamental Investments LLC Purchases 73,362 Shares of BlackLine, Inc. (NASDAQ:BL)

Susquehanna Fundamental Investments LLC raised its position in shares of BlackLine, Inc. (NASDAQ:BL) by 430.5% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 90,403 shares of the technology company’s stock after purchasing an additional 73,362 shares during the quarter. Susquehanna Fundamental Investments LLC owned 0.15% of BlackLine worth $4,380,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. YHB Investment Advisors Inc. purchased a new stake in shares of BlackLine during the first quarter valued at $33,000. EntryPoint Capital LLC bought a new stake in shares of BlackLine in the first quarter worth approximately $36,000. 1620 Investment Advisors Inc. purchased a new position in shares of BlackLine during the second quarter valued at approximately $64,000. Covestor Ltd lifted its position in BlackLine by 29.4% during the first quarter. Covestor Ltd now owns 1,495 shares of the technology company’s stock valued at $97,000 after purchasing an additional 340 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in BlackLine by 13.0% in the second quarter. Fifth Third Bancorp now owns 2,306 shares of the technology company’s stock worth $112,000 after purchasing an additional 266 shares during the last quarter. 95.13% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at BlackLine

In other BlackLine news, Director Barbara Whye sold 5,378 shares of BlackLine stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $52.01, for a total value of $279,709.78. Following the sale, the director now directly owns 6,777 shares in the company, valued at approximately $352,471.77. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other BlackLine news, Director Barbara Whye sold 5,378 shares of BlackLine stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $52.01, for a total value of $279,709.78. Following the sale, the director now owns 6,777 shares of the company’s stock, valued at approximately $352,471.77. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Karole Morgan-Prager sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $50.00, for a total value of $500,000.00. Following the transaction, the insider now owns 115,424 shares of the company’s stock, valued at $5,771,200. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,765 shares of company stock valued at $851,418. 9.93% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. BTIG Research lowered their price target on BlackLine from $71.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Piper Sandler cut their price target on BlackLine from $55.00 to $51.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Citigroup lowered their price objective on shares of BlackLine from $62.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, June 28th. Truist Financial dropped their price objective on shares of BlackLine from $60.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. Finally, Robert W. Baird reduced their target price on shares of BlackLine from $72.00 to $65.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, BlackLine has a consensus rating of “Hold” and an average target price of $58.78.

BlackLine Stock Up 1.1 %

Shares of BL stock opened at $52.85 on Monday. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.95 and a quick ratio of 1.95. BlackLine, Inc. has a one year low of $43.37 and a one year high of $69.31. The company’s fifty day moving average price is $49.50 and its 200-day moving average price is $52.93. The company has a market capitalization of $3.27 billion, a price-to-earnings ratio of 229.78, a PEG ratio of 12.80 and a beta of 0.89.

BlackLine (NASDAQ:BL) last announced its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.50 by $0.08. The business had revenue of $160.51 million for the quarter, compared to the consensus estimate of $158.21 million. BlackLine had a return on equity of 33.96% and a net margin of 19.46%. The business’s revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.69) earnings per share. Sell-side analysts expect that BlackLine, Inc. will post 0.94 EPS for the current fiscal year.

BlackLine Company Profile

BlackLine, Inc provides cloud-based solutions to automate and streamline accounting and finance operations worldwide. It offers financial close management solutions, such as account reconciliations that provides a centralized workspace for users to collaborate on account reconciliations; transaction matching that analyzes and reconciles individual transactions; task management to create and manage processes and task lists; and financial reporting analytics that enables analysis and validation of financial data.